American Apparel seeks to rebrand (and rebuild) in new location
The Los Angeles-based retailer is planning to move away from its roots, and loyal California fan base. How might that affect sales? Execs are hoping for a boost. Here’s the scoop.
It’s transition time for American Apparel.
After a tumultuous last couple of years, during which the company booted its controversial CEO and emerge from bankruptcy, it’s now pondering a possible move out of Los Angeles and putting itself up for sale.
The retailer is considering a move to either North Carolina or Tennessee, according to multiple reports. That would save the company a significant amount of money. This year, 500 jobs were removed.
Minimum wage in those states hovers around $7.25. California plans to raise its minimum wage to $15 an hour within the next four years. RELATED: Find out what it REALLY takes to be a best place to work at Salesforce HQ in San Francisco.
American Apparel has also hired an investment bank to explore a possible sale, Fortune.com reports.
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