New office will position Lands’ End to improve efficiencies and strengthen processes
DODGEVILLE, Wis., Sept. 05, 2019 (GLOBE NEWSWIRE) -- Lands’ End, Inc., (NASDAQ:LE) a leading uni-channel retailer, today announced the opening of a new buying and sourcing office in Hong Kong. The new office will position Lands’ End to improve its own internal processes, get products to market faster and strengthen its execution on business strategy. This is the first independent buying and sourcing facility in the region for Lands’ End.
“Lands’ End continues to make strategic changes across our supply chain to position ourselves for sustained, long-term growth,” said Jerome Griffith, chief executive officer and president, Lands’ End. “Opening our own buying and sourcing office will provide for better management of the team, which will allow us to better execute on corporate strategies. This is an exciting step on our path ahead, and we look forward to continuing to serve our global customer base with increased speed and efficiency.”
To lead the new office, Lands’ End today announced the appointment of Diaz Kwok as managing director. Ms. Kwok brings a wealth of fashion industry knowledge to Lands’ End, with more than 20 years of experience in senior management roles. Most recently, she served as executive vice president of global supply chain at LF Americas, where she managed wholesale private label business with more than 20 accounts in the United States and globally. Throughout her career, Ms. Kwok has established a reputation as a credible, reliable business partner with strong negotiating skills.
“We are thrilled to welcome Diaz to lead our new team in Hong Kong,” Griffith said. “With her decades of experience building and managing extensive supply chains across the globe, Diaz brings a depth of valuable knowledge to the new office and will help deepen Lands’ End’s footprint in a competitive global marketplace.”
About Lands' End, Inc.
Lands’ End, Inc. is a leading multi-channel retailer of casual clothing, accessories, footwear and home products. We offer products online at www.landsend.com, on third party online marketplaces and through retail locations. We are a classic American lifestyle brand with a passion for quality, legendary service and real value, and seek to deliver timeless style for men, women, kids and the home.
Forward-Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties, including the expected benefits of the new buying and sourcing office, such as improving internal processes, increasing speed to market and strengthening execution of business strategy; and expectations of sustained, long-term growth. All statements other than statements of historical fact are forward-looking statements. The following important factors and uncertainties, among others, could cause actual results to differ materially from those described in these forward-looking statements: the buying and sourcing office may not yield its expected benefits; we may be unsuccessful in implementing our strategic initiatives, or our initiatives may not have their desired impact on our business; our ability to offer merchandise and services that customers want to purchase; changes in customer preference from our branded merchandise; our results may be materially impacted if all imports from China are subject to increased tariffs and we are unable to offset these increased costs through pricing negotiations with our vendor base, moving production out of China, passing through a portion of the cost increases to the customer, or other savings opportunities; fluctuations and increases in costs of raw materials; impairment of our relationships with our vendors; our failure to compete effectively in the apparel industry; legal, regulatory, economic and political risks associated with international trade and those markets in which we conduct business and source our merchandise; our failure to timely and effectively obtain shipments of products from our vendors and deliver merchandise to our customers; our failure to efficiently manage inventory levels; the adverse effect on our reputation if our independent vendors do not use ethical business practices or comply with applicable laws and regulations; the impact on our business of adverse worldwide economic and market conditions, including economic factors that negatively impact consumer spending on discretionary items; and other risks, uncertainties and factors discussed in the "Risk Factors" section of our Annual Report on Form 10-K for the fiscal year ended February 1, 2019, and Quarterly Reports on Form 10-Q. We intend the forward-looking statements to speak only as of the time made and do not undertake to update or revise them as more information becomes available, except as required by law.
Contacts:
Lands' End, Inc.
Jim Gooch
Chief Operating Officer and Chief Financial Officer
(608) 935-9341
Investor Relations:
ICR, Inc.
Jean Fontana
(646) 277-1214
Jean.Fontana@icrinc.com
Source: Lands' End, Inc.
