The co-president of Liz Claiborne’s Juicy Couture brand, David Bassuk, is set to leave after just two months in the post.
David Bassuk is rejoining his former employer, turnaround specialist AlixPartners, and will continue to work for Liz Claiborne Inc as a consultant. LeAnn Nealz who was co-president with Bassuk, will become Juicy’s sole president.
Speaking to analysts alongside the company’s first-quarter results last week, Liz Claiborne CEO William McComb said Bassuk will work with the company at a corporate level on some “critical projects” around the brands, “project work that will directly enable the cost savings and efficiencies” the group has been working on.
“As these projects will be taking on more importance over the coming months, Dave has indicated to both Leann and me, his desire to focus on these efforts,” said McComb.
Liz Claiborne changes its name to Fifth & Pacific Companies this month. Bassuk will advise McComb on the transition. “Dave will return to help run the retail practice at AlixPartners while partnering with Fifth & Pacific on our corporate transformation,” McComb added. “While this is a bit unusual, it’s a highly pragmatic move… We will not be replacing the Juicy co-president role imminently.”
Juicy Couture has been weighing down the parent company’s results, with sales in the unit down 4.4% to US$110m over the first quarter.