Happy New Year!
Has anyone worked for any brands that were taken over by Sycamore Group? Our parent company was acquired and I was curious what types of changes were made? Deal gets signed January 3!
Nothing will happen in the short-term but they will eventually streamline operations (cost cutting). Are you able to share your company or the parent company?
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Yes it’s Chicos FAS. Chicos, WHBM and Soma. We are currently located in Florida and I’m curious if they would move design. Also wondered how benefits and such might change.
I know no one has magic answers but knowing they’ve acquired many retail brands wondered if anyone had Insight
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Based on what I’ve seen with their other acquisitions, I doubt they would move design and development from Fort Meyers. That being said, you never really know.
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Sycamore Partners is first and foremost a venture capital company. They are all about the bottom line. Be prepared for consolidation of roles, and people who have long tenure/ higher salaries will be cycled out for a younger, less experienced and cheaper workforce. They may keep you headquartered in Florida for now since you have an established infrastructure there, but don’t be surprised if down the road when leases expire etc if your operations are moved near where more of the Sycamore businesses are located.
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