Wet Seal revamps under new chief executive

After an exhausting year of ups and downs, Wet Seal is beginning its revamp. The retailer, known for trendy women’s clothing, underwent bankruptcy protection filing and new executive employee changes. Through these new alterations and after enduring hardships, the company is finally putting plans in motion to move forward.

The youthful women’s retailer is planning an entire reboot under fairly new chief executive officer Melanie Cox. Starting with the company six months ago, she’s starting to implement new changes for improvements. Her initiatives including restructuring designs, increasing profit margins, and more. After researching the market for teen clothing, Cox has continued to create new strategies to make Wet Seal successful again. Her duties so far have included relocating main offices, hiring sales associates, and leading the product development team at the company. In addition, Cox believes that keeping the clothing chic and affordable is a key component. “The contemporary market has gotten way too expensive,” she told WWD. “Teens want the look, but very few can afford that approach.”

Though the brand has undergone major changes in the last couple years, the company is moving towards improvement with Cox’s new ideas. However, there is no doubt that the company struggled previously. The company had filed for bankruptcy protection last in January 2015. As a result, Wet Seal had to shutter over 300 stores. Afterwards, with 173 remaining operating stores, the company was acquired by Versa Capital Management auction. With the new initiatives, Cox is hoping to make Wet Seal prosperous yet again. “Wet Seal can be a 300-store chain,” she told WWD. “There’s always market share to steal.”