NEW CEO
Blum to Helm Fred Segal
Fred Segal is going global, and Paul Blum was named as the chief executive officer to guide the national and international growth of the Los Angeles–area retail landmark, said Adam I. Sandow, chairman and chief executive officer of Sandow, the New York–headquartered company that acquired the worldwide rights to the Fred Segal brand in 2012.
It was also announced on May 27 that Sandow will partner with Evolution Media Partners, an equity investor, to fuel the growth of Fred Segal. Evolution is a joint venture between Evolution Media Capital, TPG Growth and Participant Media, Sandow said.
"Fred Segal has maintained its authenticity for more than 50 years. Working with powerhouse partners like Evolution, CAA, TPG and Participant Media, as well as Paul Blum, an experienced CEO with deep roots in retail, will allow us to reinvent the retail experience across America and the rest of the world," Sandow said in a statement. Blum—who has worked for brands such as David Yurman, Kenneth Cole and Juicy Couture—will be based out of Sandow's Manhattan headquarters.
The new Fred Segal will offer retail, art, culture and entertainment. A preview of the new concept was unveiled at the Tom Bradley International Terminal of Los Angeles International Airport in 2013. In August, the Fred Segal Collective compound of shops will take a bow at the SLS Hotel & Casino in Las Vegas. A Fred Segal store is scheduled to take a bow in Japan in 2015. Sandow plans to build up to 10 Fred Segal centers around the world in the next seven years. However, locations have not been announced.
