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In The Style CEO Sam Perkins has announced that he is stepping down from his position at the company.
The company’s founder Adam Frisby will replace Perkins as CEO on an interim basis. He led the group as CEO for nine years until January 2022.
The fashion retailer also announced that it is launching a strategic review of the business that could lead to a potential sale.
In The Style has hired investment bank Lincoln International to help lead on a strategic view of the business as the listed business said it’s current market cap undervalues the business
This news comes after the company posted losses of £3.1m in the half year ending 30 September 2022.
Its revenues dropped 11% to £27m. Direct-to-consumer sales remained broadly flat at £23m, and wholesale revenues dropped 45% to £4m.
In The Style has hired investment bank Lincoln International to help lead on a strategic view of the business as the listed business said its current market cap undervalues the business.
Jim Sharp, chair of In The Style, said: “On behalf of the board, I would like to place on record my thanks to Sam for his contributions during his time as the Group’s CEO. Adam is excited to return to the role of CEO at this important time. As the Group’s founder and major shareholder, Adam is well placed to lead the business and ensure it delivers its considerable potential.”
