Glassons boss resigns as brand rallies
Glassons chief executive Di Humphries has resigned from her role at the Kiwi fashion chain.
In a statement to the New Zealand stock exchange, Hallenstein Glasson group chief executive Mark Goddard said she returned to the company in April 2016 with a mandate to lead a key transformational change, build an effective management team and restore profitability.
‘‘Having substantially achieved those objectives, Di has now resigned to pursue other interests and projects,’’ he said.
‘‘On behalf of myself, the team and the board of Hallenstein Glasson’s, we wish her all the very best for her future endeavours.’’
Humphries was at the helm of the company from 2000 to 2012, but left to lead doomed childrenswear brand Pumpkin Patch, before a stint as a consultant.
Glassons has been struggling through troubled times.
While Humphries was at Pumpkin Patch, Glassons was initially run by Tracy Shaw, a former general manager of Jag in Melbourne.
But Shaw resigned after a few months and the position remained vacant.
Last year, the group reported a fall in full-year profit of $13.68 million.
The retailer said there had been problems getting effective management for Glassons and it had suffered a lack of ‘‘fashionability’’. But in the first six months of this year, it recorded an increase in total sales and a profit lift of almost 35 per cent, year-on-year.
Retail analyst Chris Wilkinson, of First Retail Group, said the brand had been rallying recently despite the growth of brands such as H&M and Zara in New Zealand.
‘‘Amazon’s launch and continued growth in online spending offshore are other factors our fashion chains are especially mindful of currently,’’ he said.
‘‘It’s likely Humphries has the group on a good trajectory now. However, they will need to maintain that momentum while being agile enough to respond to what the changing market will throw at them.
‘‘Her successor will need to have a strong understanding of what it will take to differentiate from the competitors and leverage the chain’s national footprint to deliver an edge that others can’t.’’
When Humphries resigned from Pumpkin Patch, its chairman Peter Schuyt said Humphries had made positive changes to the company’s underlying performance.
Humphries said that her time away from Hallenstein Glasson had given her fresh perspective on its challenges as well as its opportunities.