Adam Frisby, the entrepreneur founder of recently-floated online fashion retailer In The Style, is stepping down as chief executive.
The man who steered his start-up to the stock market this March when it floated on AIM at 200p per share, will switch to be chief brand officer.
Stepping down: In The Style chief executive Adam Frisby is leaving his job to be chief brand officer
After a strong start as a listed company, it announced a profit warning in September, blaming increased freight and shipment costs as well as customers sending back clothes. Shares are currently 117.5p.
Sam Perkins, the former managing director of The Very Group and one time Tesco executive, will take over as chief executive in January.
Frisby, 34, said: ‘With the scale of the business that we are, and with the many growth opportunities we have to go after, now is the right time to strengthen our senior team.’
Analysts at Liberum said: ‘The appointment brings some substantial benefits. It allows Adam Frisby the time and scope to focus on his core skillset of managing the group’s growing influencer base, the product and everything creative.’
