Something Navy's CEO is out as Arielle Charnas' company stops producing clothing, closes stores, and explores a sale
Something Navy, the beleaguered apparel company founded by the fashion influencer Arielle Charnas, is struggling to survive. Its CEO is leaving the company, most employees have either quit or been laid off, and production of new clothing is on hold, several people told Insider.Insider investigation published in December
Meanwhile, a credit report from the business-analytics company Dun & Bradstreet this week described"significant stability and payment behavior concerns" for Something Navy over the next year and gave the company a maximum credit recommendation of $2,500, down from $9,000 in December. "I know a lot of you have been asking about what is happening at the moment with @somethingnavy and rightfully so!" Charnas wrote."The brand has been in the process of bringing in a whole new management team to run the company. A lot of changes had to be made so that it can be the best brand that it can be. This mini hiatus is part of that."
But for the past several months, Charnas hasn't been on speaking terms with the CEO, said the recently departed Something Navy employee who worked closely with the C-suite. Two people close to the company said last year that Charnas was devastated when she found out about the company's struggles in the spring of 2022."If she would've known what was really going on, I think she would've done things differently," the recently departed employee close to the C-suite said.
But it couldn't keep up the momentum. From 2021 to 2022, the company's gross sales dropped by 22%. A former employee of Leap, the retail startup Something Navy partnered with to finance its stores, said Something Navy recently closed its Upper East Side and Los Angeles stores because sales were"dropping month over month." Sales reports Insider viewed last year showed that Something Navy's most popular styles were selling only a handful of units in its stores weekly.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Newest, most advanced Burke-class destroyer accepted by Navy, will operate out of San DiegoThe $2.4 billion warship features an advanced air and missile defense radar system that will help it protect aircraft carrier and amphibious assault groups
Les mer »
Lily-Rose Depp Defends Graphic ‘The Idol’ Sex: “Not Interested in Something Puritanical”The star weighed in on criticism of the HBO series' 'torture porn' sex scenes with co-star/co-creator the Weeknd.
Les mer »
A3 Artists Agency Signs Ain’t That Something Entertainment Founder Matt SolomonA3 Artists Agency has signed Ain’t That Something Entertainment founder Matt Solomon for representation. Solomon has cast some of the biggest reality TV hits, including Bravo’s Real Hou…
Les mer »
Something About Kate Middleton's Waves Is Hitting Different TodayThis is shampoo commercial-level goodness.
Les mer »
Post Malone Unveils Upcoming Album’s Tracklist, Shares Snippet of ‘Something Real’: ListenAustin will contain 17 tracks, and is scheduled to arrive in July.
Les mer »
AUKUS: First cohort of Australian submariners graduate United States Navy's 'Nuke School'The graduates are important in Australia's plans to field a fleet of nuclear-powered, conventionally-armed submarines under the trilateral Australia-United Kingdom-United States partnership.
Les mer »