EXCLUSIVE: Marcus Wainwright to Step Down From Rag & Bone
It’s the end of an era at Rag & Bone.
Marcus Wainwright, who cofounded the brand with David Neville in 2002, is stepping down as chief brand officer. Upon his departure at the end of this month, he will remain a “significant” shareholder and a member of the board of directors, the company said.
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The creative duties will be split between two of the brand’s longtime employees: Jennie McCormick, chief merchandising and design officer, who will oversee womenswear, footwear and accessories, and Kyle Sweeney, senior vice president of men’s design and merchandising. The wider management team — chief operating officer Nicolas Vermot, chief people officer Rebecca Seidenstein and chief commercial officer Benjamin Harris — will remain in place.
Vermot runs the company on a daily basis and industry veteran Andrew Rosen, who serves as chairman of the board of Rag & Bone, is also quite involved in the operation of the business, a spokesperson said. At one point, Wainwright and Neville had served as co-chief executive officers but Neville left the company in 2016 to work more closely in the beauty industry with his wife Gucci Westman and her brand. Wainwright served as sole CEO until Stephanie Strack assumed that position in 2018 at which point Wainwright became chief brand officer. Strack’s tenure with the brand lasted only eight months, however, and Wainwright stepped in to lead the company with the executive management team and board of directors.
“Under Marcus’ leadership, Rag & Bone stood the test of time, and his talent and dedication over the past two decades enabled the brand to leave an indelible imprint on the American fashion scene,” Rosen said. “Marcus’ legacy will be felt in those who will carry on the culture he created, his vision, and the Rag & Bone aesthetic.” He was unavailable for further comment.
Wainwright, who also declined to be interviewed, provided a statement about his departure: “I arrived in New York in 2001 with nothing but a backpack and no idea what to do with my life. Rag & Bone began 21 years ago, and after 84 seasons, 168 collections, a completely wild ride and some of the greatest experiences imaginable, I’ve earned a bit of a break. I am incredibly proud of this brand, all it stands for and everything it has become. I am also beyond grateful to our amazing team and every single person who has contributed so much along the way. I leave in place a passionate and supremely talented group of people, who I know will continue building the company that will forever be a massive part of my life.”
Wainwright broke the news of his departure to his staff Thursday in a letter where he said his decision to leave was “complicated…in a million ways. I love you guys, I love working with you every day, I love making stuff and coming up with ideas for things that I hope are worth making and that mean something to the people that wear them. But the time has come for me to turn the page. After over 30,000 designs, hundreds of shoots, endless discussions on pocket shapes and whether to use riri zips, I will have spent over 7,500 days thinking about clothes. For now, that’s enough and I’ll be saying farewell at the end of this month.”
He said the creation and growth of the brand over the past 21 years has been “a crazy ride, full of ups and downs, blood, sweat and tears, fun, emotion, creativity and innovation. Looking back, it’s hard to believe how much has happened. I leave with the brand as strong as ever and with an incredible team driving it forward. It’s beyond emotional for me…but it’s time.”
Rag & Bone was created by Wainwright and Neville, who met as teenagers in England. They had no design training but thought it would be fun to make clothes, so they found a factory in Kentucky to make jeans. The brand expanded into sportswear in 2005 and Rosen became a partner in 2006. Although its heritage was in menswear, today Rag & Bone offers a wide range of men’s and women’s ready-to-wear that combines classic English heritage with an updated New York-skewed aesthetic. It is best known for its denim and workwear-influenced tailoring but also creates a wide range of accessories and footwear. The company operates 37 stores globally and is available in more than 53 countries.
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