Catalyst Brands Bolsters Retail Team with Michael Fernandez Appointment
Catalyst Brands, the retail group formed by the merger of J.C. Penney and Sparc Group, has continued its restructuring efforts. In April 2023, the company cut around 9% of its corporate roles, following a previous reduction of about 250 people in February. The new CEO, Marc Rosen, has appointed Michael Fernandez as Chief Wholesale and Business Development Officer to drive growth.
Fernandez brings over two decades of retail experience, most recently serving as chief commercial officer and chief merchandising officer at The Levy Group Inc. He will report to Rosen and oversee all wholesale operations, business-to-business, licensing, and business development efforts across Catalyst Brands' portfolio, which includes J.C. Penney, Aéropostale, Brooks Brothers, Eddie Bauer, Lucky Brand, and Nautica.
The appointment comes as the retail landscape shifts. Forever 21's U.S. operator filed for Chapter 11 bankruptcy in March 2023, leading to the closure of all stores. Authentic Brands Group has since found new operators for the brand, which will now operate only online and via wholesale. Meanwhile, Catalyst Brands sold Reebok to Galaxy Universal after the merger with Sparc Group.
Catalyst Brands aims to bolster its retail and wholesale presence with the appointment of Michael Fernandez. The company continues to adapt to industry changes, having already made significant cuts to its corporate roles earlier this year. Fernandez's extensive experience is expected to strengthen Catalyst Brands' position in the market.
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