Women’s fashion and accessories chain Talbots has appointed a new CEO and president, the result of its acquisition by investment fund Sycamore Partners.
Michael Archbold, a former executive vice president of Saks who also served as president of the Vitamin Shoppe, is joining as CEO. Lizanne Kindler, previously the executive vice president of product development at Kohl’s Department Stores, has been named company president. A former vice president at Talbots, Kindler will be responsible for product development, merchandising, and marketing.
Michele Mandell, a 26-year veteran of Talbots and formerly the company’s executive vice president of stores, has been appointed chief operating officer.
The company also announced that Sycamore Partners has completed its acquisition of the 516-store chain, in a transaction valued at $391 million.
Sycamore’s managing director, Stefan Kaluzny, is a former board member at Zale Corp., where he represented Golden Gate Capital.
As a result of the transaction, Talbots will no longer be publicly traded.