True Religion CEO Search Continues as Chelsea Grayson Exits Interim Post
LOS ANGELES — True Religion’s search for a chief executive officer continues as the company’s interim ceo Chelsea Grayson has exited the firm, the company said on Wednesday.
Grayson is succeeded by interim ceo Farla Efros. True Religion said Grayson is “resigning to pursue other opportunities” and declined through a spokesperson to provide additional details.
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Efros is president of retail consultancy HRC Retail Advisory, a position she will continue to hold while at True Religion. True Religion chairman Eugene Davis said in a statement her operational and financial expertise would be “valuable assets” to the company.
Grayson joined True Religion in late 2018 when John Ermatinger announced his retirement. She had previously served on the True Religion board, and before that served as ceo of American Apparel, leading the company after a tumultuous stretch that included the ouster of its founder, two bankruptcies, layoffs and subsequent sale to Gildan.
Under Grayson, True Religion has revived a focus on streetwear, with the strategy most recently calling for the hire in May of online magazine UpscaleHype cofounder Allen Onyia as artistic director. Onyia’s impact on the brand is expected to begin filtering through with the fall and holiday collections.
Part of the strategy also calls for more limited-edition product, in addition to a more diverse assortment beyond denim, all while keeping retail price points the same, Grayson said at the time of Onyia’s hiring.
True Religion in summer 2017 filed for Chapter 11 bankruptcy and emerged from it later that year. The company said the business is so far seeing positive comps in its direct-to-consumer and online channels this year, with international another growth driver.
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