Everlane has a new CEO.
On Tuesday, the apparel brand named Alfred Chang, who previously held top roles at Fear of God and PacSun, as chief executive. Chang will start his role on Oct. 7, replacing Andrea OâDonnell, a former Decker Brands executive who joined Everlane in 2021 and left this past January. The role was left vacant in the interim.
During OâDonnellâs tenure, Everlane charted a path to profitability by streamlining operations, such as enacting layoffs and switching logistics providers. The brand generated nearly $8 million in earnings before interest, taxes, depreciation and amortisation in 2023, the most profitable year in its history.
Everlane is now focused on reigniting sales growth. The company ended 2023 with sales up 1 percent to $200 million after seeing sales dip 3 percent in 2022. To get there, Everlane has been revamping its image from a basics brand into a company known for its design chops. In 2022, the company hired Mathilde Mader, previously a designer at Marni, to create seasonal collections, and it will now increase its focus on marketing those wares. Changâs experience at Fear of God, a brand known for its distinct aesthetic, could also help further that mission.
Founder Michael Preysman, who stepped down as chief executive in 2022, will remain in his role as executive chairman and climate lead.
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Everlane Still Wants to Be a $1 Billion Brand. Is That Even Possible?
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