❗Help close the gap: We still need to raise $40,000 by the end of March. Donate now

American Apparel closes a challenging year

Stan Alcorn Dec 31, 2014
HTML EMBED:
COPY

American Apparel closes a challenging year

Stan Alcorn Dec 31, 2014
HTML EMBED:
COPY

American Apparel once stood for some combination of sexy, creepy, and made-in-the-USA. But after a year of flat sales, the company is making some changes, at least at the top. As of Jan. 5, the company will have a new CEO, since its infamous self-proclaimed “dirty guy” was fired after a long string of harassment allegations (and flat sales). And now hedge fund Lion Capital is reportedly pushing the company to find a new owner. But can a change at the top alter the brand’s bottom line? 

Marshal Cohen, chief retail analyst at the NPD Group, says American Apparel faces new competition in the “fashionable basics” category. And Jennifer Black, CEO of Jennifer Black & Associates, says to succeed in this new environment will take both low prices and the ability to nail the next fashion trend.

Click the media player above to hear more.

There’s a lot happening in the world.  Through it all, Marketplace is here for you. 

You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible. 

Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.