Just one year after losing its namesake, Joe Mimran, Joe Fresh will be saying goodbye to its current president, Mario Grauso. Loblaws Cos. Limited reported today that, come September, Grauso will be leaving the company to accept the role of president at Holt Renfrew and Co.
The news comes after a complicated year for the Canadian fast-fashion brand; a start-and-stop U.S. expansion ended with the closure of all of its American storefronts, and the end of a troubled distribution deal with J.C. Penney. Grauso began his tenure as president with the opening of the U.S. stores—he will leave just months after the closure of the final New York City location.
Loblaws has yet to announce Grauso’s successor, but has said that it is “assured of Grauso’s orderly departure and succession as Holt Renfrew”—both companies are owned by the Weston family.
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