– Veteran Retail Executive
Steven Goldsmith Appointed President and Chief Executive
Officer/LXRandCo Co-Founder and CEO Frederick Mannella Appointed
Vice-Chair and Chief Development Officer –
MONTREAL, April 12, 2018 /CNW/ - LXRandCo, Inc.
("LXRandCo" or the "Company") (TSX: LXR, LXR.WT), an
international omni-channel retailer of branded vintage luxury
handbags and accessories, today announced that current independent
director, Steven Goldsmith, has been
appointed President and Chief Executive Officer ("CEO"), with
responsibility for all aspects of the Company's activities.
Mr. Goldsmith, who will report to the Board of Directors, brings to
LXRandCo more than 25 years of executive leadership experience in
retail, merchandising and marketing across multiple distribution
platforms, including retail and wholesale channels, department
stores, internet, catalogue and television.
The Company also today announced that Frederick Mannella, Co-Founder and CEO of
LXRandCo, has been appointed Vice-Chair of the Board of Directors
and Chief Development Officer ("CDO"). In the newly created
role of CDO, Mr. Mannella will be responsible for LXRandCo's
business development activities, including managing relationships
with key business partners, growth of the Company's e-commerce and
wholesale channels, and new initiatives.
"Having, together with my co-founder, Kei Izawa, led the rapid growth of LXRandCo from
start up to an international omni-channel retailer with more than
130 locations and 500 employees, it is now the right time to add
experienced leadership that will enable our Company to more fully
capitalize on the opportunities ahead of us and, importantly, to
focus on increasing the productivity and profitability of our store
network at this important time in our growth," said Frederick Mannella. "To date, Steven has been an
excellent mentor as a Director, and now, as our full-time President
and CEO, I am confident he will add an invaluable depth and breadth
of expertise in managing and operating our growing
organization. I, personally, very much look forward to working
with him in our respective new roles to realize the full potential
of LXRandCo."
"I am delighted to join LXRandCo as President and CEO," said
Steven Goldsmith. "In such a short
time, Fred and Kei have built a truly exciting business that
remains uniquely positioned for long-term success within the
rapidly emerging vintage luxury sector. I look forward to mentoring
the incredible talent at LXRandCo to help them achieve their
fullest potential and am particularly enthusiastic about this
industry vertical and to helping the business grow and succeed in a
disciplined and profitable manner within it."
Mr. Goldmsith joins LXRandCo from Brookstone, a U.S.-based
product developer and retailer of wellness, entertainment, and
travel products at more than 200 retail locations, as well as more
than 2,000 locations with retail partners, where he served as Chief
Executive Officer and President. Prior to joining Brookstone, from
2012 to 2016 Mr. Goldsmith served as President of The Shopping
Channel, Canada's leading
multi-channel retailer. From 2011 to 2012 he was Executive
Vice President, Merchandising at Sears Canada Inc. Prior thereto,
from 2007 to 2011 he served as Executive Vice President, Limited
Brands Direct, where he led the marketing, merchandising, and
eCommerce for Victoria's Secret Direct and Bath & Body Works
Direct. Throughout his career, Mr. Goldsmith has held
leadership positions for major brands, including Amazon,
SmartBargains (now RueLaLa) and ShopNBC, where the eCommerce
business increased six-fold over the two-year period he was there.
After graduating in 1988 from The State
University of New York, Albany, Mr. Goldsmith joined the May
Department Stores Company, spending the first decade of his retail
career in the Lord & Taylor, Filene's, and Foley's
divisions.
The appointments are expected to be effective on or about
April 30, 2018, subject to the
receipt of requisite work visa approvals for Mr. Goldsmith.
About LXRandCo
LXRandCo is a rapidly growing, international omni-channel
retailer of branded vintage luxury handbags and other personal
luxury products. LXRandCo sources and authenticates high-quality,
pre-owned products from iconic brands such as Hermès, Louis Vuitton, Gucci and Chanel, among others,
and sells them at attractive prices through: a retail network of
stores located in major department stores in Canada, the United
States and Europe;
wholesale operations primarily in the
United States; and its own e-Commerce website,
www.lxrco.com.
Caution Regarding Forward-Looking Statements
Certain statements in this press release are prospective in
nature and constitute forward-looking information and/or
forward-looking statements within the meaning of applicable
securities laws (collectively, "forward-looking
statements"). Forward-looking statements generally, but not
always, can be identified by the use of forward-looking terminology
such as "outlook", "objective", "may", "could", "would", "will",
"expect", "intend", "estimate", "forecasts", "project", "seek",
"anticipate", "believes", "should", "plans" or "continue", or
similar expressions suggesting future outcomes or events and the
negative of any of these terms. Forward-looking statements in this
news release include, but are not limited to, statements concerning
future objectives and strategies to achieve those objectives,
including, without limitation, store openings, as well as other
statements with respect to management's beliefs, plans, estimates
and intentions, and similar statements concerning anticipated
future events, results, outlook, circumstances, performance or
expectations that are not historical facts. Forward-looking
statements reflect management's current beliefs, expectations and
assumptions and are based on information currently available to
management, which includes assumptions about continued revenues
based on historical past performance, management's historical
experience, perception of trends and current business conditions,
expected future developments and other factors which management
considers appropriate. With respect to the forward-looking
statements included in this press release, management has made
certain assumptions with respect to, among other things, the
Company's ability to meet its future objectives and strategies, the
Company's ability to achieve its future projects and plans and that
such projects and plans will proceed as anticipated, the expected
growth of the Company's e-Commerce revenue, the expected number and
timing of store openings in North
America and internationally, entering into new and/or
expanded retail partnerships in North
America and internationally, the Company's ability to source
products, the Company's competitive position in the vintage luxury
industry, and beliefs and intentions regarding the ownership of
material trademarks and domain names used in connection with the
marketing, distribution and sale of the Company's products as well
as assumptions concerning general economic and market growth rates,
currency exchange and interest rates and competitive intensity.
Readers are cautioned not to place undue reliance on
forward-looking statements, as there can be no assurance that the
future circumstances, outcomes or results anticipated or implied by
such forward-looking statements will occur or that plans,
intentions or expectations upon which the forward-looking
statements are based will occur.
All forward-looking statements included in and incorporated into
this press release are qualified by these cautionary statements.
Unless otherwise indicated, the forward-looking statements
contained herein are made as of the date of this press release, and
except as required by applicable law, the Company does not
undertake any obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise.
Readers are cautioned that the actual results achieved will vary
from the information provided herein and that such variations may
be material. Consequently, there are no representations by LXRandCo
that actual results achieved will be the same in whole or in part
as those set out in the forward-looking statements.
SOURCE LXRandCo, Inc.