The retailer has struggled to keep pace with the times and has occupied an increasingly untenable spot: not prestigious enough to compete with the luxury brands, yet too expensive to go head-to-head with rapidly growing low-cost rivals.
The secondhand fashion company will be joined by Klemen Drole, Arnaud Collin, and Bernard Osta, while Seun Sodipo will join Glossier from Stripe.
Banana Republic, J.Crew, Express and others are all promoting a new, more digital and fashion-forward identity in a bid to regain relevance. But a rebrand is no easy feat.
The company is betting on e-commerce and a better product assortment to turn its fortunes around.
The company's failure to hit expected sales figures underscores how competition has narrowed the room for error among apparel retailers.