Jane Shepherdson to head up Whistles |
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| Wednesday, 30 January 2008 | |
 Former TopShop director Jane Shepherdson has accepted the post of chief executive officer of high street chain Whistles. Ms Shepherdson, who will also have a stake in the Company, will be working alongside the Icelandic investment Group, Baugur, who own the brand. A rift between TopShop
owner Philip Green and Shepherdson is already making headlines as other Top Shop executives have been recruited to take up posts at Whistles. Green reportedly stated: "Assuming you have what was the best job in England in the fashion business, why would you end up in a tiny 30-shop chain if you're that good?" According to the Financial Times, Whistles operates 40 standalone stores and 40 concessions in department stores. Top Shop has 300 stores in the UK and is expanding in international markets such as America, where it recently opened a flagship in New York. Ms Shepherdson said: "Baugur approached me quite shortly after I resigned actually and we had a lot of conversations about various things." She added that the Whistles brand had "great heritage and is small enough for it to be a manageable size and something completely different to what I'm used to."
The management buy-in will see Whistles transferred from Mosaic Fashion, a stable of brands majority-owned by Baugur, to a new company that will be shared between Baugur and management. It allows Baugur to gain the respected retailing skills of Ms Shepherdson, who has not taken a full-time job since her departure from Top Shop in October 2006, according to the FT. Ms Shepherdson will be joined by Keith Wilks as finance director, and Jo Farrelly as marketing director to take over the running of the Whistles business through a management buy-in. Both Keith and Jo worked with Jane at Topshop. As a result, Whistles is to be separated from Mosaic Fashions through an acquisition by a newly formed company, in which Shepherdson and her team have part ownership. Jane Shepherdson comments: "This is a very exciting venture. I am thrilled to be taking over such an established British brand with enormous potential. I look forward to drawing on the brand's heritage and developing it into an exciting and stimulating collection and store environment. We see a great opportunity to create something unique for the woman who loves great design, isn't scared of a little edginess and who wants to reference but not slavishly follow trends." Gunnar Sigurdsson, chief executive of Baugur, said: "We are delighted to invest in the business with Jane and her team. Whistles is a fantastic brand with a great potential and with the talent and experience that Jane and her team bring, we have no doubt that they will take advantage of the solid foundation that has already been built and drive Whistles to new heights." www.whistles.co.uk www.baugurgroup.com Image: Whistles SS08 |
