An L Brands veteran has joined one of the largest specialty candy retailers in North America.
It’Sugar has appointed Mike Koempel as COO. Most recently, from 2017 to 2020, he served as executive VP/COO at Victoria’s Secret Lingerie.
Prior to Victoria’s Secret, Koempel served as executive VP/CFO at L Brands’ Mast Global Division from 2007 to 2017. Before that, he spent over eight years in other various leadership and business roles at L Brands, which he joined in 2004.
Founded by candy veteran Jeff Rubin in 2006, It’Sugar operates 96 stores, with locations that include New York, Las Vegas, Los Angeles, San Francisco, Miami, Dallas, Houston and Chicago. In December 2019, the company opened what it called the “world’s first department store of candy”, a three-level, 22,000-sq.-ft. store at American Dream, the 3 million-sq.-ft. mega-retail and entertainment center in East Rutherford, N.J.
It’Sugar has opened 10 stores in the past six months, including a two-story, 10,000-sq.-ft. outpost at Faneuil Hall in Boston. The company expects to announce more openings this year including its second “candy department store” in the United States, at the Ala Moana Center in Honolulu, Hawaii.
“I am thrilled to be joining It’Sugar at an exciting time when there is a significant opportunity for growth,” said Koempel. “I look forward to helping take the company to the next level."
It’Sugar was acquired in 2017 by BBX Capital Corp. family of companies and a subsidiary of BBX Sweet Holdings.