German womenswear brand Olsen has appointed Michael Simon as managing director.
Simon has 20 years experience in fashion and retail, and has previously held positions as managing director of sales and marketing at Gelco, chief operating officer at S.Oliver and he was chief executive of German womenswear brand Gardeur from 2008 to 2012. Following from his appointment, Simon will become a member of the Veldhoven Group board of directors.
Simon said: “By becoming part of the Veldhoven Group, Olsen has averted bankruptcy proceedings. As a team we have the ambition to regain and even improve the position Olsen has in the marketplace.”
Olsen continues to act as an independent company under the umbrella of the VeldhovenGroup, consisting of the brands Sandwich, Turnover and DEPT, who acquired Olsen on December 1.
Olsen filed for insolvency in August after a potential investor walked away at the eleventh hour, however the group said the acquisition would secure its long term future.