Industry veteran Peter Arnold has joined Cushnie et Ochs as CEO, and the brand has sold a significant minority stake in the label to an investor group-led private equity firm, Farol Asset Management. Arnold joins designers Michelle Ochs and Carly Cushnie fresh from a short-lived stint at Swarovski, which he joined earlier this year as SVP of corporate branding and communications and global licensing. Previously, he spent eight years as CEO of Cynthia Rowley, one year as president of John Varvatos, and four years as executive director of the CFDA. This is Farol Asset Management’s first foray into fashion and they count 24 Hour Fitness and software company iBwave in their portfolio. Others investors are lined up, including Hilldun’s Gary Wassner, who is making a personal investment.
Cushnie et Ochs was established in 2008 and is sold in more than 100 stores worldwide. The designers have received the 2009 Ecco Domani Fashion Foundation Award, and were finalists of the 2011 CFDA/Vogue Fashion Fund and nominees of the 2013 CFDA Swarovski Award.