It’s been only six months, but Bruce Fetter’s already putting his touch on Irvine-based St. John Knits International Inc.
Fetter, the former St. John Knits executive who returned in November as president and chief operating officer, is back at the helm of the company.
In late February, he was appointed interim chief executive, taking the reins from Philip Miller, who’s based in New York. Miller stepped in after Richard Cohen, who came on as chief executive in 2004, left abruptly in April.
St. John wanted a local executive to oversee the company’s daily operations. That made Fetter a likely choice.
“One of the challenges we’ve had is having some continuity or some type of stability of leadership,” Fetter said. “The decision was made because I was here on a daily basis and we needed someone here to set direction on a daily basis.”
His appointment shows that the company is making progress toward looking ahead and executing direction, he said.
“[The new role] allows all of us at St. John to know that there’s a single person who is setting direction, someone at the helm to ensure that we’re looking ahead,” he said.
Whether the job becomes permanent for Fetter still remains to be seen.
“The last thing that we’re distracted by is what could happen,” Fetter said. “We’re more focused on continuing to work on the initiatives of creating stronger products and updating our boutiques.”
The change in leadership marks a crucial turning point for the women’s clothing maker as it strives to rebuild its image after nearly two years of management shake-ups and fashion mishaps.
Fetter faces an uphill battle now, particularly after Cohen’s push to make St. John younger backfired.
St. John’s clothing has been a staple among politicians, socialites and affluent women in their 40s, 50s and 60s. Cohen took the company in a different direction, pushing younger, more sleek and fitted clothes.
That strayed far from the business Fetter helped grow when he joined St. John in 1997 as vice president of distribution.
Fetter left shortly after Cohen took the reins and went on to work for Chicago’s Holly Hunt Ltd., an upscale designer of furniture, fabric and light fixtures.
Close with Grays
Fetter’s departure was significant. He worked closely with company founders Marie and Robert Gray, who sold a majority stake of company to New York’s Vestar Capital Partners in 1999.
Fetter and daughter Kelly Gray served as co-presidents and then co-chief executives from 2002 until November 2004. The two started appealing to younger women a decade before Cohen entered the picture, but not nearly as hard.
Cohen’s aggressive push toward young customers saw slow acceptance and turned off loyal shoppers. Sales slowed. The company’s sales through October 2005 dropped 4% to $379 million, according to the most recent Business Journal list.
Fetter’s leading St. John into new fashion territory. The company’s trying to reconnect with loyal customers while broadening its customer base.
“What we’re looking for is a broader demographic,” Fetter said. “The program we have today ensures that our line has plenty of great options for loyal St. John customers and younger consumers. But we will not lose focus on the existing customer.
New Collection
The company launched its fall collection last month. Marie and Kelly Gray worked with designers to create the line,a mix of sport, collection, evening and couture clothes.
St. John’s signature knit suit skirts and cropped jackets have been revamped with clean lines and rich colors. Think deep reds and leopard prints. The collection also introduces soft, pale gold hardware, sleek cocktail dresses and flirty skirts.
Marie and Kelly Gray are set to continue as creative consultants, Fetter said.
“The Grays will still be involved with St. John. They’ve been a positive influence in what we’ve accomplished this year,” he said.
The company plans to launch other lines such as shoes, handbags, glasses and jewelry by the end of this year. St. John’s set to continue updating its boutiques through 2008.
As for Miller, he remains on St. John’s board and will continue to mentor the company, Fetter said.
