Juicy Couture CEO Paul Blum to leave, announces closure of New York flagship store
Juicy Couture CEO Paul Blum has said he will leave the brand at the end of January after just one year at the company. Former chief executive officer at both Kenneth Cole and David Yurman, Blum was brought on at Juicy Couture in December 2012 to lead the brand’s turnaround and international expansion.
A replacement for Blum has yet to be found, but the new owner Authentic Brands Group (ABG) is expected to make its choice in the coming weeks.
In November 2013, parent group Fifth & Pacific completed the sale of Juicy Couture intellectual property to ABG. Fifth & Pacific will continue to operate Juicy Couture stores until June 2014. The company announced today that he had come to an agreement with the landlord of its flagship Fifth Avenue store in New York for the early termination of its lease in exchange for $51 million. The completion of this transaction is expected in the first half of 2014, at which time the store will close.
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