The Los Angeles-based company has been in turmoil for quite some time now. With bankruptcy files, new chief executive officers, and underperforming sales; it’s needless to say that American Apparel has gone through a lot.
However, in recent developments, the company is still aiming for a turnaround strategy. Albeit slowly, the business is taking steps to help bring the company around. “Overall, business is tough, but you know the green sprouts are that new product has been awy outperforming things that we had in the store,” chief executive officer Paula Schneider told WWD. Schneider took over American Apparel as the CEO earlier this year in January. The takeover followed after Dov Charney exited the position. Although Schneider is now in charge, Charney is still making contributions to the company. Recently, Charney revealed that he was attempting to work with Los Angeles-based investment first Cardinal Advisors LLC. His attempt was to get Cardinal Advisors to “explore the potential for a big to buy American Apparel out of bankruptcy,” as reported by WWD.
However, Schneider is still focused on stabilizing the company and granting a turnaround producing great products. “That’s the whole idea…for us to be able to really use nice fabrics because we make a great product,” Schneider told the publication. For Spring 2016, the company plans to bring in 130 new styles for menswear and womenswear. As for whether or not new product can save the future of American Apparel, we will just have to wait and see.