Madaluxe Group promotes in-house for CEO

Madaluxe Group just announced a new chief executive officer. Formerly serving the role as president, Adam Freede has now been promoted as CEO to help grow the company.

Freede's new position was announced on Tuesday, February 13, according to WWD. He will be taking over the role from his mother Sandy Sholl, who was named executive chairman for the company. Together, the two cofounded the company approximately seven years ago. While Sholl moves on to executive chairman, she will oversee and manage the retail, marketing and e-commerce side of the business. As CEO, Freede will help build out the company and continue its growth strategy. “We are aggressively pursuing expansion and going down a lot of different roads,” Freede told WWD in an interview.

As part of the comapany's strategy, Madaluxe plans to open some of its off-price luxury boutiques including one called Madaluxe Vault. Another location is set to open in San Clemente in California later this year. As reported by the publication, the group also plans to open a store in Manhattan boasting 9,000 square feet. It seems with Freede taking over, he will help lead and direct these new moves.