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Hugo Boss merchandising chief joins AllSaints

AllSaints has hired former Hugo Boss merchandising chief Matthew Corin as buying and merchandising director, in a newly created role.

Corin, former vice president of merchandising, Americas, at Hugo Boss, joined the troubled retailer last week.

AllSaints confirmed the appointment to Drapers, but declined to comment further.

Last September, chief executive Stephen Craig quit the retailer after a disagreement with chairman Kevin Stanford. Craig has yet to be replaced. Chief financial officer Peter Wood is maintaining chief executive responsibilities in the interim.

AllSaints profits plunged 9% to £21.5m despite soaring sales for the year ending January 2011, according to figures filed at Companies House.

Gross margin had dropped 68.6% to 62.6% in the 12 months. The group mainly blamed “financial constraints” and “significant liquidity challenges”.

But turnover jumped 57% to £208.6m. Revenue generated by markets outside the UK was five times higher than the previous year.

Private equity firms Lion Capital and Goode Partners rescued AllSaints from administration in May, injecting £105m into the business to help it pay off debt and give it a significant net cash surplus.

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