MONTREAL, May 13, 2019 /CNW/ - LXRandCo, Inc. ("LXRandCo" or the "Company") (TSX: LXR, LXR.WT), a North American omni-channel retailer of branded vintage luxury handbags and accessories today announced that Eric Graveline, Valerie Sorbie and Nicolas Topiol have been appointed to the Company's Board of Directors. Ms. Sorbie has also been named Chair of the Board.
"LXRandCo is fortunate to have these three accomplished retail executives join the Board as directors," said Steven Goldsmith, President and Chief Executive Officer, LXRand Co Inc. "Mr. Graveline, Ms. Sorbie and Mr. Topiol each bring proven and relevant industry experience to complement and strengthen our existing board expertise and capabilities."
Eric Graveline is Managing Director DEK Investments LLC. Prior to starting his own investment firm, Eric worked for 20 years as an investment banker for Salomon Brothers, BMO Nesbitt Burns and then Citigroup. Before leaving Citigroup in 2007, Eric ran the bank's North American Derivatives Solutions Group out of New York City. Eric's team provided financial structuring and risk management solutions to Fortune 500 companies, pension funds, insurance companies as well as governmental entities. In addition to his professional successes, Eric won several Canadian and North American sailing championships and proudly represented Canada in the Los Angeles 1984 Olympics. More recently, Eric has brought his financial acumen to real estate, technology, and consumer goods startups. He is a significant shareholder in Guru Beverage Co., an organic energy drinks company. Eric sits on several boards of directors in the United States, Asia, and Canada.
Valerie Sorbie is Partner and Managing Director at Gibraltar & Company, Venture Capital and Board Director. Valerie's current and former board experience includes: Bishop Strachan School (Chair), Steam Whistle Brewing, Tilley Endurables, TKEES, Harvard Kennedy School Women's Leadership Board, Kahuso, and Black Business and Professionals Association. Previously, Valerie was Chief Administrative Officer, BMO Capital Markets and SVP Office of Strategic Management, BMO Financial Group. Valerie has been COO of several software companies in Canada, U.S, U.K., and Israel. Valerie began her career as a strategy consultant after a brief stint teaching business principles in Russia. Valerie holds an Honours Bachelor of Arts in Anthropology from The University of Western Ontario, a Premier Diploma from the University of Grenoble and an MBA from the Ivey School of Business at The University of Western Ontario.
Nicolas Topiol joined the Falic Family Group of Companies in 2002 and currently serves as Chief Executive Officer of Christian Lacroix SNC, a Haute Couture, Fashion and Lifestyle House. During his tenure as CEO of Christian Lacroix, Nicolas negotiated and structured its acquisition from LVMH and subsequently lead it to profitability for the first time since its inception in 1987. From 2002 to 2009, Nicolas was General Manager and a Board member of both Hard Candy, LLC and Urban Decay Cosmetics, LLC, two worldwide fashion forward cosmetics companies based in Southern California. Nicolas started his career at Societe Generale and Apax Partners before joining the founders of an investment trading and holding company in 1994. From 1999 to 2002, he developed watch and jewelry e-commerce businesses (Timezone.com and then Ashford.com, Diamond.com and Worldofwatches.com). Throughout his career, Nicolas has developed international expertise in acquisitions and direct investments in private companies and has further complemented this expertise with both hands-on and operational work in the US & Europe and with worldwide business development. Nicolas was awarded a Masters in Business Administration from the Wharton School of the University of Pennsylvania.
The Company also announced that Stephane Guerin and Laurie Kien Kotcher have stepped down as Directors of the Company.
"On behalf of the Board, I would like to thank Mr. Guerin and Ms. Kotcher for their valuable contributions during their tenures as Directors," said Mr. Goldsmith.
LXRandCo is a North American 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 primarily in major department stores in the United States and Canada; 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 concerning future objectives and strategies to achieve those objectives, including, without limitation, store openings, as well as other statements with respect to management's beliefs, plans, estimates and intentions, and similar statements concerning anticipated future events, results, outlook, circumstances, performance or expectations that are not historical facts. Forward-looking statements reflect management's current beliefs, expectations and assumptions and are based on information currently available to management, which includes assumptions about continued revenues based on historical past performance, 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, the expected growth of the Company's e-Commerce revenue, the expected number and timing of store openings in North America and internationally, entering into new and/or expanded retail partnerships in North America and internationally, the Company's ability to source products, the Company's competitive position in the vintage luxury industry, and beliefs and intentions regarding the ownership of material trademarks and domain names used in connection with the marketing, distribution and sale of the Company's products as well as assumptions concerning 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: Nadine Eap, Interim Chief Financial Officer, LXRandCo. Inc., +1 (514) 564-9993 ext: 037, firstname.lastname@example.org; Lawrence Chamberlain, Investor Relations, LodeRock Advisors, +1 (416) 519-4196, email@example.com