-
Ascena’s “Tweenovator” to retire
Michael Rayden, an innovative merchant credited with developing retail concepts that catered to the tween demographic, has announced plans to step down as president and CEO of Ascena’s Justice and Brothers division.
Rayden will leave the company at the end of January 15 following a lengthy career in the apparel industry. Ascena said it has begun a global search for a successor.
-
L'Oreal USA to buy Carol's Daugher
L'Oréal USA has announced plans to acquire multi-cultural beauty brand Carol's Daughter.
Financial terms of the deal were not disclosed.
Created by Lisa Price in 1993, Carol's Daughter offers a range of products that are available at specialty beauty stores, mass retailers, on HSN, through e-commerce and at Carol's Daughter branded stores in New York City. For the 12 months ended Sept. 30, Carol's Daughter had net sales of $27 million.