MONTREAL, Jan. 26, 2018 /CNW/ - LXRandCo, Inc. ("LXRandCo" or the "Company") (TSX: LXR, LXR.WT), an international omni-channel retailer of branded vintage luxury handbags and accessories, is pleased to announce the appointment of Ms. Audrey Lara as Chief Financial Officer of LXRandCo, Inc. Ms. Lara will officially assume her duties with the Company on April 1st, 2018.
A French citizen, Ms. Lara brings to LXRandCo more than 15 years of finance and capital markets experience, with an extensive background in financial planning and operations, management and strategy, and a deep knowledge of retail and especially retail technology. She joins from Paris-based Criteo SA (NASDAQ:CRTO) where she was Chief Financial Officer for the Europe, Middle East and Africa (EMEA) region, overseeing a business with revenues exceeding US$500 million across 12 different subsidiaries. During her seven years at Criteo SA ("Criteo"), she participated through varying finance roles and responsibilities in the initial stages of the company's growth to the company's eventual listing on the NASDAQ in 2013. Prior to her role at Criteo, Ms. Lara served in varying roles of increasing responsibility at Deloitte SAS in the retail vertical of the financial audit department.
"Audrey's experience in retail and especially retail technology will be very valuable for LXRandCo, as we continue building our omni-channel brand internationally. With LXRandCo positioned where traditional retail and technology intersect, Audrey will play a key role in helping us execute this strategy" said Fred Mannella, Chief Executive Officer of LXRandCo. "Audrey has a passion for the luxury product category and understands deeply the importance of experiential retail, we are very enthusiastic to have her join the team." Added Mr. Mannella.
"This is a great opportunity for me to further my career with a company that is reshaping the future of the branded vintage luxury business and more broadly the retail industry. LXRandCo has a culture of entrepreneurship, innovation and a will to transform traditional retail by giving a second life to iconic luxury products, which is evident in all its people across the organization. I'm thrilled to join such a talented team and contribute to the continued success of the Company." Said Ms. Lara.
Ms. Lara will oversee LXRandCo's finance, accounting and investor relations areas of the business. She will also be involved in the strategy formulation and execution aspects of the omni-channel strategy of the Company.
The company also noted today that Mr. Jeremy Stepak, currently LXRandCo' s Interim Chief Financial Officer will remain in his current role until the finalization and approval of the Company's annual filings for 2017, expected no later than March 31, 2018. The Company and its Board of Directors would like to extend its sincere thanks for the role Mr. Stepak played in facilitating both the reverse-takeover of and the subsequent listing of LXRandCo on the public markets. "Jeremy has deep knowledge of the capital markets and a passion for our brand. We wish him the best in his future projects." said Mr. Mannella.
LXRandCo is a rapidly growing, international omni-channel retailer of branded vintage luxury handbags and other personal luxury products. LXRandCo sources and authenticates high-quality, pre-owned products from iconic brands such as Hermès, Louis Vuitton, Gucci and Chanel, among others, and sells them at attractive prices through: a retail network of stores located in major department stores in Canada, the United States and Europe; wholesale operations primarily in the United States; and its own e-Commerce website, www.lxrco.com.
Caution Regarding Forward-Looking Statements
Certain statements in this press release are prospective in nature and constitute forward-looking information and/or forward-looking statements within the meaning of applicable securities laws (collectively, "forward-looking statements"). Forward-looking statements generally, but not always, can be identified by the use of forward-looking terminology such as "outlook", "objective", "may", "could", "would", "will", "expect", "intend", "estimate", "forecasts", "project", "seek", "anticipate", "believes", "should", "plans" or "continue", or similar expressions suggesting future outcomes or events and the negative of any of these terms. Forward-looking statements in this news release include, but are not limited to, statements regarding the Company's intended use of proceeds from the offering and the expected closing date of the Offering. Forward-looking statements reflect management's current beliefs, expectations and assumptions and are based on information currently available to management, which includes assumptions about management's historical experience, perception of trends and current business conditions, expected future developments and other factors which management considers appropriate. With respect to the forward-looking statements included in this press release, management has made certain assumptions with respect to, among other things, the Company's ability to meet its future objectives and strategies, the Company's ability to achieve its future projects and plans and that such projects and plans will proceed as anticipated. as well as assumptions concerning the satisfaction of all conditions of closing to the Offering, including receipt of all necessary regulatory and stock exchange approvals, and the successful completion of the Offering within the anticipated timeframe, general economic and market growth rates, currency exchange and interest rates and competitive intensity.
Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the future circumstances, outcomes or results anticipated or implied by such forward-looking statements will occur or that plans, intentions or expectations upon which the forward-looking statements are based will occur.
All forward-looking statements included in and incorporated into this press release are qualified by these cautionary statements. Unless otherwise indicated, the forward-looking statements contained herein are made as of the date of this press release, and except as required by applicable law, the Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Readers are cautioned that the actual results achieved will vary from the information provided herein and that such variations may be material. Consequently, there are no representations by LXRandCo that actual results achieved will be the same in whole or in part as those set out in the forward-looking statements.
SOURCE LXRandCo, Inc.
For further information: Jeremy Stepak, Interim Chief Financial Officer, LXRandCo, Inc., +1 (416) 301-1333