Centric Brands LLC, which emerged from bankruptcy proceedings in mid-October, said Marc Schneider has been appointed chairman of its Board of Directors. Schneider is a veteran in the retail and wholesale industry with more than 35 years of experience in building brands and global businesses.
Schneider was most recently CEO of Kenneth Cole Productions where he was responsible for its retail, outlet, e-commerce, international, licensing, and wholesale businesses. Prior to joining Kenneth Cole Productions, Schneider was Group President of the Heritage Brands at PVH Corp. where he was responsible for the dress furnishings, sportswear, licensing, and retail divisions. Schneider has also served in senior executive and officer roles at Timberland, Macy’s, and Melville Corporation/Bob’s Stores, and also serves as a Principal at JKLM Advisors LLC, a Senior Advisor at TZP Group and on the Board of Directors at RG Barry and the Saatva Company.
“We are pleased to welcome Marc as Chairman of our Board of Directors. His insight and significant experience within the industry will be invaluable as we look to execute our long-term strategies for growth and expansion,” said Jason Rabin, the company’s chief executive officer. Mr. Rabin continued, “Marc is a friend and trusted advisor who joins our Company at an exciting time as we are well-positioned for success and energized for the future.”
“Centric has long been a leader in lifestyle brands and is now entering an exciting new period of expansion where it is well-positioned to take advantage of market opportunities and growth. I look forward to working with the entire Centric team and contributing to the Company’s continued success,” said Schneider.
As part its bankruptcy exit, the company reduced its debt by roughly $700 million, leaving the bankruptcy process with a “stronger capital structure,” as well as access to “substantial” cash and liquidity. Under the restructuring, Centric Brands has become a private entity with financial backing from majority sponsor Blackstone, Ares Management Corp. and HPS Investment Partners.
The company’s portfolio includes more than 100 licensed brands including for kids apparel, Calvin Klein, Tommy Hilfiger, Nautica, Spyder and Under Armour; for men’s and women’s apparel, Joe’s Jeans, Buffalo and Hudson Jeans; for accessories, Kate Spade, Michael Kors, All Saints, Frye, Timberland, and Jessica Simpson; and for entertainment, Disney, Marvel, Nickelodeon, and Warner Brothers, among others. Owned brands include Hudson, Robert Graham, Swims, Zac Posen, and Avirex.
