A DIVISION OF RANDA ACCESSORIES

PRESS RELEASES

Randa Announces New Growth Structure

May 15, 2014

FOR IMMEDIATE RELEASE New York, NY (May 13, 2014) – Over the past year Randa has announced several large growth initiatives. Among these are their new, and much enlarged, offices and presentation spaces at 417 Fifth Avenue in New York City; a $25 million investment in infrastructure; new expanded facilities in Toronto, Canada, and Como, Italy; and a custom-built, LEED-certified, 535,000 square foot distribution center in Reno, Nevada. At their annual managers meeting on May 7th held this year in New Orleans, Randa announced a re-alignment of divisions and resource structure. The structure is designed to continue, support and catalyze exponential growth. Randa created four new product divisions: "Belts & Furnishings,” “Wallets & Seasonal,” “Neckwear & Jewelry,” and “Luggage & Travel.” Additionally, Randa created a new “Key Accounts” division. “The world, and our marketplace, is changing at an accelerated rate,” states Jeffrey Spiegel, chief executive officer of Randa Accessories. "At Randa, re-evaluation, adaptation, innovation, and extraordinary analytics are core competencies. We embrace change and have created a structure to support continued growth and success for not only Randa, but also for our retail and brand partners.” The new divisional structure will roll out over the next few months, with design and merchandising transitioning in June and sales and forecasting functions implementing their transition in August. Additionally, pan-department “Brand Champion” positions were created to cross-pollinate best practices across all divisions and classifications. “Our new structure,” said David J. Katz, Randa’s newly promoted executive vice president and chief marketing officer, "focuses upon increased investments in intellectual property, vertical product expertise, and the ongoing creation of compelling products. Most importantly, it elevates our continuing commitment to our partners’ success. At Randa our own success and that of our partners are not viewed as a ‘zero sum’ equation; wherein one party's gain is at the other party’s loss. We are committed to making our retail and brand partners successful and thereby creating increased loyalty to Randa. We view this loyalty as a currency which we exchange for access to innovative testing and added classifications.”
2
In support of the new structure, several leadership promotions were announced, along with new job openings in virtually every division: Terry Tackett, a 20-year Randa veteran recently made president of Randa’s Swank, Inc. division, will become president of the new “Belts & Furnishings” division, focusing on replenishment-centric items where managed-retail real estate is a core requirement. Ed Turner, formerly senior vice president of Randa leather merchandising, will become president of the “Wallets & Seasonal” division; this division includes gifts, seasonal footwear, and the new addition of headwear and cold weather accessories. John Kammeier, formerly senior vice president merchandising for Randa neckwear, will become president of “Neckwear & Jewelry” division, fully integrating Swank’s jewelry business. Frank Fenton, formerly senior vice president of sales, will become president of “Luggage & Travel,” including mobility solutions beyond luggage. Another new division, “Key Accounts” was created to leverage a dedicated sales team reporting to newly promoted to senior vice president Al Jasman, formerly vice president of sales for Randa Accessories. This division will focus on the needs for specialized account management and best practices.
Judy Person, formerly senior vice president sales, has been promoted to executive vice president and group president over the four product divisions and key accounts. “Our new structure,” explained Judy Person, “provides vertical expertise in each of our major product classifications. It also provides greater dedicated resources for each of our customers. We anticipate growth in sales, penetration and share of wallets for Randa and our partners.” She added, “I am so proud to be part of this extraordinary company and to work closely with our inspirational and talented managers." Randy Kennedy, formerly senior vice president logistics, has been promoted to executive vice president and chief logistics officer. $25 Million has been allocated for upgrades to Randa’s North American logistics system, a process that is nearly complete, and brings Randa nearly one million square feet of distribution space. Mr. Kennedy stated that, “Randa is prepared to double in size; our logistics system is prepared to support that growth." Other promotions include: Melissa Lawrence to senior vice president of “Neckwear & Jewelry,” from vice president of sales; Laura Drnek to senior vice president of merchandising for “Wallets & Seasonal,” from vice president merchandising; Michelle Der to senior vice president of sales for “Belts & Furnishings,” from vice president of sales for Swank, Inc.; Cindi Smith to vice president of sales for “Wallets & Seasonal," Maurice Paradiso to vice president of sales for "Wallets & Seasonal," and Kim Bearry to director of sales for “Neckwear & Jewelry.”
And, Richard Carroll, formerly vice president of marketing, has been promoted to senior vice president marketing and creative director.
3
Two years after the acquisition of Swank, Inc., Swank will no longer operate as a separate division. Its people, brands and products will be fully integrated into Randa’s new growth structure.
######
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, hats, gloves, scarves 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, Williamson-Dickies, Wembley, and Ryan Seacrest Distinction. 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.
4
David J. Katz Ed Turner
Executive Vice President President Wallets and Seasonal
and Chief Marketing Officer
Frank Fenton John Kammeier
President Luggage and Travel President Neckwear and Jewelry
5
Judy Person Randy Kennedy
Executive Vice President and Group Executive Vice President
President, All Product Divisions and Chief Logistics Officer
and Key Accounts
Terry Tackett
President Belts and Furnishings