ITS.L Share News (ITS)

(Sharecast News) - Womenswear brand In the Style said on Friday that founder and chief executive Adam Frisby has decided to take on the newly-created role of chief brand officer and that Sam Perkins will succeed him as CEO with effect from 17 January.
In his new role, Frisby will be responsible for developing the group's influencer partnerships and the brand's creative direction.

"Adam alongside the rest of the In the Style board believe these appointments will enable the group to deliver the next stages of long-term growth ambitions and achieve the brand's significant potential," the company said.

Perkins has a successful and proven track record of delivering strategic and commercial success across multichannel and pureplay retailers, In the Style said. He joins the company from The Very Group, where he has held the role of managing director of the retail division since 2018 and has helped to drive its transformation "from a multi-brand catalogue business to a fast-paced pure-play retailer".

Perkins has also held various leadership roles at Tesco and previously held senior roles at Nestle and PepsiCo.

Non-executive chairman Jim Sharp said: "We are delighted that Sam will join In the Style as the group's new CEO. Not only is Sam a truly outstanding candidate with a proven track record of delivering transformational growth at some of the UK's best-known retail brands, but his appointment as CEO will also enable Adam to focus his energy and talent on the newly created role of chief brand officer with responsibility for developing In the Style's influencer relationships, leading the Group's product design, and spearheading the brand's creative development."

House broker Liberum, which rates the shares at 'buy', said: "The appointment of a new CEO brings some substantial benefits to the group. It allows Adam Frisby the time and scope to focus on his core skill set of managing the group's growing influencer base, the product and everything creative.

"At the same time, the new CEO brings a wealth of operational experience - something that ITS requires as it continues on its rapid growth trajectory. It also means that another senior exec is onboarded to assist with managing and overseeing the group's strategy. Past experience is highly valuable and the moves announced today should enhance the group's scalability to support future growth."