FINANCE

Drybar receives $20 million investment

BY Marianne Wilson

Los Angeles — Drybar, the leading blowdry-only salon concept, has received a $20 million investment led by SPK Capital and existing investor, Castanea Partners.

Also participating in the round were Drybar Board member Janet Gurwitch, founder and former CEO of Laura Mercier Cosmetics, and previously executive VP of merchandising at Neiman Marcus, and Ron Frasch, former president and chief merchandising officer at Saks Fifth Avenue and previously CEO at Bergdorf Goodman. Paul Pressler, former CEO at Gap Inc. and president at The Walt Disney Company, is also an investor and sits on Drybar’s board of directors.

"We are extraordinarily proud, honored, and fortunate to have such a talented and experienced group of investors and advisors helping us further grow this brand," said Michael Landau, Drybar co-founder and executive chairman.

Drybar, which has raised more than $50 million of capital to date, currently has 37 retail locations. It recently expanded distribution of its hair styling products and tools from 70 to more than 200 Sephora locations nationwide.

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FINANCE

Chico’s names new CFO

BY Marianne Wilson

Fort Myers, Fla. — Chico’s FAS announced that it has appointed Todd E. Vogensen as senior VP, CFO, replacing Pamela Knous, who has left the organization to pursue other interests.

Prior to his appointment as CFO, Vogensen had been the Chico’s senior VP finance. He has served Chico’s in numerous roles over the past five years. Previously, Vogensen held multiple positions of increasing scope and responsibility with Michaels Stores.

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OPERATIONS

Schnuck Markets names CIO

BY Marianne Wilson

St. Louis — Schnuck Markets announced that Robert Hardester has been appointed the company’s new CIO. Hardester succeeds Mark Zimmerman, who recently announced that he would be leaving the company.

Hardester most recently served as a VP corporate systems at Express Scripts, where he was responsible for application development. He previously held the position of CIO at Furniture Brands International and at General Electric.

The Schnucks executive team is interested in moving forward in ways that appeal to the individual customer rather than to the masses,” Hardester said. “That requires more analytics and more emphasis on consumer trends. Maintaining a secure IT environment is a top priority in today’s retail world, but Schnucks is a company that wants to do more with IT — leveraging segmentation, merchandising, mobile apps, social networking and using what is learned to help deliver positive and exciting in-store experiences.”

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