The CEO of womenswear retailer Long Tall Sally, Andrew Shapin, has announced he will step down from the role after 12 years.
Shapin joined the company in July 2007. He will step down with immediate effect but act in an advisory capacity to the business for the next six months.
Before his tenure at Long Tall Sally, Shapin founded furniture and home furnishings business The Cotswold Company in 1997. It was sold to Findel in August 2006 and Shapin left his role as managing director a year later to join Long Tall Sally. In August 2010, Shapin returned to The Costwold Company as chairman.
Shapin will not be replaced at Long Tall Sally. Daniel Gutting, group CEO of the retailer’s parent company, TriStyle, will take direct operational control alongside the group’s four executive directors and Long Tall Sally board members.
Shapin said: “It has been a rewarding experience to lead the reorientation of a predominantly catalogue-based, retail-driven business to a global direct first brand and drive the exit process which led to the business’s acquisition by Equistone Partners Europe/TriStyle GmbH, as well as to motivate the creative evolution of Long Tall Sally.”
TriStyle bought Long Tall Sally from investment firm Amery Capital in 2016. The deal valued the retailer at £30m.
Long Tall Sally was established by Judy Rich in 1975. It now has around 262 staff.
The business began working with advisers at Financo to explore options for its future, including a potential sale, at the end of 2015, as reported by Drapers.
In January 2016, Long Tall Sally acquired its US competitor, Long Elegant Legs, in a bid to drive its international expansion.