June 20, 2014

American Apparel CEO Sacked

Many of you may not believe it, but there was a time when American Apparel was relevant and meant something to the surf, skate and snow industry… If only for taking customers away in hordes and shifting fashion into a new direction that ultimately led to Quiksilver and Billabong’s near collapse. Still, in their heyday, AA mattered. And their founder, President and CEO, Dov Charney, could get as handsy as he liked with employees cause the people profiting didn’t want to rock the money-boat.

Fast forward to 2014 and with a near 100% failure to deliver a profitable quarter in four years, Uncle Touchy has been ousted from all roles with the company. Shares jumped around 20% on the news with investors believing either that the period of mismanagement has come to an end, or that the decrease in overheads from legal fees and payouts on harassment lawsuits made the company 20% more profitable.

It’s all okay though, I’m sure Dov can get together with his friend and fellow creep, Terry Richardson, to keep up what they would term as ‘experimentation’ but that those on the receiving end tend to think of as more than a little bit ‘rape-y’.

by Dave