MARCUS WAINWRIGHT Now Sole CEO of Rag & Bone
BY KENNETH RICHARD
After ten years with Rag & Bone, Co-Chief Executive Officer David Neville is stepping aside to pursue new business ventures. Neville will remain on its board and retains a sizable stake in the company. Fellow Co-Chief Executive Officer Marcus Wainwright is taking the reigns as sole CEO.
Neville joined Rag & Bone in 2006 to collaborate with childhood friend Wainwright in growing the upstart American brand founded by Wainwright and Nathan Bogle in 2002. Bogle left the company in 2006 paving the way for Neville to join the house and help steer it to a projected $300 million in revenue for 2016. The duo were named co-CEO’s in 2015 when former CEO Mike Tucci exited the company.
In recent months the firm has on boarded a number of senior executives including Chief Commercial Officer Lydia Forstmann, (formerly of Tory Burch and Coach), CMO Johanna Murphy (a veteran of Ivanka Trump and Kate Spade & Co.), and CFO Chris Vieth (previously of Maidenform). All who report directly to Wainwright.
Wainwright, who notably managed the design and marketing aspect to the firm, will continue his focus in these areas relying on the senior management team to manage wholesaling, retail, international and licensing. He joins a short list of a new generation of CEO/Creative Directors such as Christopher Bailey at Burberry who balance both the Chief Creative role with that of CEO.
The house opened their first boutique in 2008 on Christopher Street and currently operates 22 Rag & Bone stores in the United States as well as six outlet doors. In 2012 the duo opened their first international store in their home country of the U.K. in London. Additionally the label has a series of franchise stores located in Japan, UAE, Hong Kong, Thailand, Taiwan, and Lebanon. Rag & Bone is currently sold in 53 countries worldwide.
Outside of his involvement on the Rag & Bone board Neville will be turning his energies to launch a cosmetics and skincare line with his wife, makeup artist Gucci Westman, as well as to scout and shepard emerging brands.
B&W Photos | Danny Clinch for The Impression