Catalyst Brands Names Michael Fernandez as New Chief Wholesale Officer
Catalyst Brands, formed eight months ago from the merger of J.C. Penney and Sparc Group, has appointed Michael Fernandez as its new chief wholesale and business development officer. Fernandez will report to CEO Marc Rosen and oversee wholesale operations, business-to-business, licensing, and business development efforts.
Fernandez brings over 20 years of retail experience, most recently serving as chief commercial officer and chief merchandising officer at The Levy Group Inc. His appointment comes after a series of changes at Catalyst Brands. In April, the company cut about 9% of its corporate roles, following an earlier reduction of about 250 people. This followed the sale of Reebok to Galaxy Universal, reducing its retail brand portfolio.
The changes at Catalyst Brands coincide with shifts in the broader retail landscape. Forever 21, which once operated hundreds of stores, filed for Chapter 11 bankruptcy in March. All stores closed, and operations shifted to online and wholesale only. Authentic Brands Group has since found new operators for the brand, which will continue to operate online and via wholesale.
Michael Fernandez's appointment signals Catalyst Brands' commitment to growing its wholesale and business development efforts. Despite recent staff reductions and the sale of Reebok, the company continues to adapt to the evolving retail environment, as seen in the changes at Forever 21.
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