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AllSaints CEO exits

AllSaints chief executive William Kim has left the business, Drapers understands.

Chief operating officer Peter Wood replaces Kim, who has moved to private equity firm Lion Capital to look after its digital investments.

Lion Capital bought a majority stake in AllSaints in 2011 with its US partner Goode. Lion Capital was co-founded in 2004 by Lyndon Lea, a former Goldman Sachs investment banker. 

Wood joined AllSaints in 2010 as chief finance officer and became chief operating officer in September 2016.

In its most recent results, for the year to 28 January 2017, sales at AllSaints leapt by 20% to £303m in the year, but its profits slipped as it invested in launching in Japan.

UK revenue was up 11.5% to £160m, while international sales were up 31% to £142m.

EBITDA before exceptional items was down 9% to £26m, which the retailer attributed to start-up and pre-opening costs associated with its entry into the Japanese market, as well as investments in technology and its new travel retail channel.

Drapers has contacted AllSaints for comment.

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