February 27, 2014
FOR IMMEDIATE RELEASE New York, NY (February 26, 2014) – When Randa Accessories, the world’s largest men’s accessories company makes management changes, the bar is set very high. Therefore, it is good news for Randa that the company has a strong, and deep, talent bench from which to draw.
Randa announced today a rotation of several senior managers into new positions at the company. Terry Tackett, currently president of Randa Luggage will become president of Swank, effective March 3, 2014. Mr. Tackett spent 20 years in the belt, small leather goods, and accessories industry as senior vice president of Randa Leather Goods and Randa’s Humphrey¹s acquisition. Tackett will be based at Randa’s New York City office.
Frank Fenton will become president of Randa Luggage, also effective March 3, 2014. Mr. Fenton was vice president of sales for Randa Neckwear, senior vice president of sales for JanSport backpacks, and most recently senior vice president of sales for Randa Luggage. Fenton will be based at Randa Luggage’s Bloomfield, NJ office.
In May, 2012, Randa Accessories acquired Swank, Inc (SNKI), its $150 million competitor. Approaching his nearly two year post-acquisition tenure with Randa, Rick Luft, president of Randa's Swank division, has announced his intention to transition to a new career path: Business and Executive Coaching. Mr. Luft will remain with Randa as a full-time employee through May 2014, at which time he will become a consultant to Randa working on key corporate initiatives. “Randa is an extraordinary company,” says Rick Luft. "Working with its leadership, culture, process, and dominant market share has been a great experience, an education and a pleasure. I am equally pleased to spend the next several months aiding a smooth leadership transition, and look forward to my continued involvement as an advisor to the company on strategy and key business initiatives."
"We expect a seamless transition for these executives over the next several months,” states David J. Katz, Randa¹s Senior Vice President and Chief Marketing Officer. “Terry and Frank are experienced Randa managers with deep knowledge of these divisions and product classifications. Their new assignments and business acumen align with Randa Accessories' strategy to continue to be industry leaders, while reevaluating and optimizing our expertise in each consumer segment, classification, brand, and market position. Concurrently they are charged with penetrating adjacent business opportunities."
About Randa Accessories
Randa Accessories is the world’s largest men’s accessories company. Creating and marketing men's belts, small leather goods, neckwear, luggage, casual bags, jewelry, seasonal footwear, and gifts, Randa collaborates with 75 marquee brands including Levi's, Dockers, Tommy Hilfiger, Kenneth Cole, Geoffrey Beene, Tommy Bahama, Jonathan Adler, Nautica, Timberland, Countess Mara, Guess, and Williamson-Dickies. Randa is the leading global resource for fashion, lifestyle, luxury, and private-branded men’s accessories and in-store merchandise services provided through retailers in all channels of distribution, worldwide. For more information www.randa.net.