Brookfield, Authentic Brands Group and Shein launch Catalyst Brands, a new venture encompassing Lucky Brand, Aéropostale, Nautica, Eddie Bauer, Brooks Brothers, and JCPenney. However, Forever 21's future is unclear as the company explores strategic alternatives for the struggling retailer. Extensive management changes occur with Marc Rosen leading Catalyst Brands.
Brookfield Corp. , Authentic Brands Group and Shein have partnered up to form a new company, Catalyst Brands , consisting of SPARC’s Lucky Brand, Aéropostale, Nautica, Eddie Bauer and Brooks Brothers brands, as well as JCPenney. But executives from Catalyst told WWD they are exploring “strategic alternatives” for Forever 21 , which is currently part of the SPARC portfolio. That could lead to the fast-fashion retailer being sold off.
The formation of Catalyst triggered a round of top management changes. Marc Rosen, the chief executive officer of JCPenney, will become CEO of Catalyst. Michelle Wlazlo, chief merchandising and supply chain officer of JCPenney, has been promoted to brand CEO of JCPenney.Ken Ohashi will continue leading Brooks Brothers and also assume responsibility of Eddie Bauer in his new role as brand CEO of both brands. Natalie Levy will continue in her role as brand CEO of Aéropostale, Lucky Brand and Nautica. Wlazlo, Levy and Ohashi now all report to Rosen. In addition, Kevin Harper, formerly senior vice president of people strategy and operations at Walmart, is coming out of retirement to join Catalyst Brands as chief operating officer. And Marisa Thalberg, currently consulting chief marketing and brand officer of JCPenney, will become chief marketing and growth officer at Catalyst Brands. When asked why Forever 21 will not be part of the Catalyst Brands platform, Rosen told WWD: “As we looked at the brand portfolio, we determined that our high-quality, iconic American brands would be the best fit.” Forever 21 filed for Chapter 11 in 2019, a victim of over-expansion, debt and rising competition, and was was pulled out of bankruptcy by Simon, ABG and Brookfield the following year.With the creation of Catalyst Brands, SPARC continues to be involved in the operating businesses of Lucky Brand, Aéropostale, Nautica, Eddie Bauer and Brooks Brother
Catalyst Brands Forever 21 Jcpenney Brookfield Corp. Authentic Brands Group Shein Retail Fast Fashion Management Changes
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