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Welcome to On the Move. Every week, The Current is rounding up the comings and goings of leaders at brands and retailers across the ecommerce, retail and CPG landscape.
This week, SaksOff5th.com has a new head of ecommerce, Loop appoints a new head of marketing to spearhead ambitious market expansion plans and Ariana Grande’s beauty brand has new leadership in place following a spinout.
SaksOff5th.com hires head of ecommerce
Julie Mares was hired as head of ecommerce at SaksOff5th.com, WWD reported. She will oversee website and app design, customer experience, merchandising and digital content strategy.
Previously Mares served as head of ecommerce and omnichannel at UnTuckIt. She also brings experience from Walmart, Simon Property Group, Gucci, Century 21 and Macy’s over a 20-year career.
“There is incredible opportunity ahead for the SaksOff5th.com business,” Mares said in a statement. “By implementing a holistic, data-driven e-commerce strategy, we will be well equipped to evolve our digital capabilities and positioned to provide a best-in-class site experience for our customers.”
Loop taps head of marketing
Franchesca Hashim was appointed head of marketing at Loop, the baby gear rental startup led by former Glossier CMO Ali Weiss.
Hashim previously served as head of brand marketing at Masterclass, and brings more than 15 years of experience working with brands such as Everlane, Airbnb and Saks Fifth Avenue.
Loop launched in 2021 with $5.6 million in seed funding to bring a shared economy model to the $175 billion durable baby products market. Its catalog includes more than 200 toys and baby gear items for rental, with no setup required.
Hashim comes as Loop is planning expansion into Philadelphia, Boston and Chicago, and is eying age groups beyond 3+.
Hashim will begin by hiring a team to execute in areas including market expansion, customer engagement and experience, as well as community programming.
Ariana Grande’s beauty brand names new CEO
Michelle Shigemasa was hired as CEO of r.e.m beauty, the beauty brand owned by Ariana Grande.
Bringing more than 20 years experience, Shigemasa has previously held leadership positions at skincare brand Murad and color cosmetics company Smashbox.
The hire comes after Grande acquired the assets of r.e.m. beauty from previous parent Forma Brands, which filed for bankruptcy last month.
Farfetch CFO to leave at end of the year
Elliot Jordan is set to depart luxury ecommerce platform Farfetch from the role of chief financial officer by the end of 2023.
Jordan served in the role for more than eight years, as the company transitioned from private to public, and grew GMV to $4.1 billion. He is staying on through 2023 while the company conducts a search for a successor.
“We are some way off from saying our ‘goodbyes’ but his legacy will be formidable finance and business services teams that are part of a company that we believe is extremely well placed to continue to lead the industry and drive profitable growth – and Elliot has been an important building block of our success,” said Farfetch CEO José Neves.
Foot Locker appoints interim CFO
Robert Higginbotham was named interim CFO at Foot Locker. This will be an additional role on top of duties as SVP of investor relations, financial planning and analysis, which he assumed in December 2022. Previously, Higginbotham spent nearly 20 years on Wall Street as an equity research analyst and portfolio manager.
The March 1 transition for Higginbotham comes as the retailer continues a search for a successor to Andrew E. Page, who will be leaving the company on Feb. 28.
Trending in Careers
Father's Day is expected to break records, according to NRF and Prosper Insights.
Consumer spending is expected to break records this Father’s Day, according to new data.
A forecast from the National Retail Federation and Prosper Insights & Analytics shows the following:
Father’s Day spending is expected to total $22.9 billion.
That would be an increase above the $20 billion spent in 2022, and would break the record of $20.1 billion that was recorded in 2021.
Three-quarters of consumers are planning to celebrate Father’s Day this year.
Average spending per person is expected to reach $196.23. That’s up from $171.79 last year and above the record of $174.10 spent in 2021.
“Father’s Day remains a momentous occasion for Americans to honor the important men in their lives,” said NRF President and CEO Matthew Shay, in a statement. “Consumers plan to celebrate the holiday in a big way this year, and retailers are ready to help make it special.”
Here are a few more key data points from the forecast:
Ecommerce for dad: Online is the biggest shopping destination for Father’s Day gifts, as 43% of consumers are turning to ecommerce. That’s up from 40% last year. Meanwhile, 38% will shop at department stores, up from 34% in 2022.
In the box: The survey showed 42% of consumers are interested in giving a subscription box as a gift. That’s up from 37% last year, and amounts to the highest interest since NRF began tracking the gift option in 2019.
Top demographic: People in the 35-44 age group are the “big spenders,” said Prosper Executive Vice President of Strategy Phil Rist. They’re expected to outspend other consumers by $100. The 45-54 age group is expected to see the biggest increase, with $57.04 spent.
Top gifts include clothing (55% plan to buy), a special outing like dinner or brunch (52%), gift cards (48%) and personal care items (32%).
The gift of time together: Nearly one-third plan to give a gift of experience, such as tickets to a sporting event or concert. That’s up 25% from last year, and the highest share since NRF began asking the question in 2016.