Private equity firm Sycamore Partners announced the division of the Nine West Footwear Group, an operating unit of Nine West Holdings.
The group has been reorganized into four separate businesses: Nine West (which includes the Nine West, Bandolino, Enzo Angiolini and Circa Joan & David brands, and the handbags division), Easy Spirit, NW Jewelry Group and Anne Klein. Each will have its own leadership team.
As part of the restructuring, each business will be able to focus on greater efficiency and long-term profitability. Kathy Nedorostek has chosen to step down as chief executive officer of the Nine West Footwear Group, and Andrew Hede will serve as interim CEO of Nine West.
The company also named Peggy Eskenasi as the executive chairman of Easy Spirit, NW Jewelry Group and Anne Klein. The former senior executive vice president for product development at Kohl’s Corp., will also advise Sycamore on brand development across its portfolio.
Sycamore Partners managing director Stefan Kaluzny, said, “We are pleased to welcome Peggy and look forward to working closely with her as we continue to focus on acquiring and nurturing leading brands in the consumer and retail sector.” He added, “Peggy is an accomplished leader in the retail industry with a proven track record of success. With her considerable experience and expertise in marketing and branding, we are confident she will play a meaningful role in helping our portfolio companies reach their full potential.”
Eric Dauwalter, president of Easy Spirit, and Fran Lukas, president of NW Jewelry will continue to lead at their respective companies. Eskenasi will direct the recruitment of a management team for the newly formed Anne Klein business.