Charney is working with one of the same financial partners who backed his $300 million takeover bid for American Apparel, Chad Hagan, president of Hagan Capital Group, reports WWD (h/t Racked). That proposal was rejected by a judge last week in favor of the company’s plan to exit bankruptcy.
According to Hagan, the new company will make basics for men and women, with all manufacturing in the United States. It’ll be focused on wholesale at first.
If that sounds familiar, it’s because it is: American Apparel touted U.S.-made basics for both men and women, and in the early stages, most of its business was in selling blank T-shirts to uniform companies, fashion brands, and other merchandisers.
“What’s important to us now is we’re able to form this new venture and put Dov at the helm and we’re going to do basics again,” Hagan told WWD. “We don’t want to just start with some funny, online brand. We’re going to do what Dov does best and then establish a robust e-commerce system.”
As for those pesky allegations of misconduct that have hounded Charney from his days as CEO of American Apparel, Hagan says he isn’t worried.
“Dov is a colorful CEO, but we’ve been witnessing a lot of emotions from both sides in this bankruptcy,” he says.
American Apparel Rival Led by Dov Charney in Works [WWD, subscriber paywall]
by Mary Beth Quirk via Consumerist
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