Tanenbaum Exits Metropark
Orv Madden’s Metropark stores are on a growth spurt. But the company will have to move on without its founding president, Lawrence Tanenbaum. The 38-year-old entrepreneur quietly left the Industry, Calif.–based company in October.
Tanenbaum said the departure was amicable and that he left to explore other business opportunities that would not be competitive with Metropark. He remains a large stakeholder in the contemporary premium retailer, which runs 25 fashion stores across the United States.
Metropark’s former president was trained as an investment banker. He and Hot Topic founder Orv Madden founded Metropark, and the store launched in four malls in October 2004.
The store’s purpose was to take the fashion and often music-inspired styles of hip boutique neighborhoods such as Los Angeles’ West Third Street and offer them in a mall setting.
Since 2004, the company has continued to sell brands such as Obey Clothing, Hause of Howe, True Religion and RVCA. However, the company plans to double its store locations, said a company spokesperson, who also said the company is planning to grow to more than 50 stores by the end of 2007.
—Andrew Asch
