Brylane restructures into 3 divisions
July 13, 2001,
New York — Responding to a "challenging market environment," Brylane announced it is restructuring into three divisions for its catalogs, allowing for the elimination of 5 percent of its executive work force.
"We remain confident in the future of the Brylane business and look forward to the new model promoting growth and profitability," said Russell Stravitz, chairman and ceo. "This new structure will enable us to improve our products and presentation, while offering greater service to our customers. We believe these actions will strengthen our business by utilizing shared talent and lowering our cost structure, thus improving our bottom-line."
Steve Goldberg, who joined the company as president of the Home Lifestyles Group in April, will also oversee the Misses Apparel Group on an interim basis. The Home Lifestyles Group consists of Brylane Home catalog, launched in 1998, and future extensions.Brylane Inc. joined HTT's Top 50 Retailing Giants in home textiles for the first time for the year 2000, ranking 27th.
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