LOS ANGELES--(BUSINESS WIRE)--MadaLuxe Group, North America’s leading distributor of luxury fashion, today announced that Adam Freede, President, will assume the role of CEO, effective immediately. MadaLuxe Group’s co-founder and CEO emeritus, Sandy Sholl, has been named Executive Chairman and will continue to oversee retail, e-commerce and marketing.
As part of the announcement, MadaLuxe Group also stated that it has signed a lease on a 9,000-square-foot office in New York City, where it will open a showroom this spring. Additionally, MadaLuxe Group has identified a second location in Southern California for its new, luxury off-price boutique concept, MadaLuxe Vault. The first MadaLuxe Vault opened in December 2017 in Los Angeles.
Freede most recently served as President of MadaLuxe Group which he co-founded with Sandy Sholl in 2010 after graduating from the Goizueta Business School at Emory University. As President, Freede was responsible for driving market demand by forging lucrative business deals with the world’s most distinguished brands and retailers, resulting in MadaLuxe’s exclusive foothold in the luxury market. Under his leadership, MadaLuxe identified a unique market opportunity in off-price luxury distribution within the North American wholesale market. He later brought off-price luxury directly to consumers through MadaLuxe Timepieces and the MadaLuxe Vault concept, both in-store and online. As CEO, Freede will lead visionary growth strategies and infrastructure evolutions that continue to position MadaLuxe Group as the leader in the luxury space and further diversify the company’s portfolio through new strategic partnerships. Freede serves on the Board of Governors of the World of Children.
“I’m thrilled to be transitioning into the role of CEO at an exciting time in our company’s history,” said Freede. “The off-price sector is experiencing faster acceleration in both store count and sales than the North American retail industry overall. As the dominant distributor of off-price luxury in the wholesale market, MadaLuxe Group is uniquely positioned to modernize the off-price market by meeting the needs of the informed consumer who wants affordable, curated items with a steady flow of luxury product. We are working strategically with our retail and brand partners to position us for success as we build out the MadaLuxe Vault concept, our full-price timepieces division, and the opening of a new showroom in New York City.”
A retail industry veteran and successful entrepreneur, Sandy Sholl has pioneered cultural movements in the fashion industry for more than 25 years. In addition to co-founding and formerly serving as CEO of MadaLuxe Group, Sholl has founded several other successful retail and consumer ventures, including Carlen Enterprises, Focus H.K. and Instinct Fashion, and has served as CEO of Haute Hippie. Following eight years of growth, Sandy stepped aside from her role to usher in an exciting new era with Freede as the company’s CEO. From investing in brands to launching new direct-to-consumer concepts, she maintains unsurpassed industry relationships and has a keen understanding of the consumer. In her new role, Sandy will continue to trailblaze innovative business ventures that drive the company forward. Sholl serves on the Board of Governors of the World of Children and on the Board of Trustees of Tikva Children’s Home.
"As the retail industry continues to evolve driven by tech savvy consumers, we have created a new luxury off-price boutique shopping experience with the MadaLuxe Vault," said Sholl. "As Executive Chairman, I will be bringing new experiences to consumers so they can engage with the MadaLuxe brand, which will also complement our retail and brand partners, offering access to carefully curated products both in-store and online.”
Since 2010, MadaLuxe Group has been a trusted partner for Europe’s iconic luxury maisons seeking a North American distribution strategy for excess inventory. The company has grown its retail sales to more than $200 million.
About MadaLuxe Group
Since 2010, MadaLuxe Group and its co-founders, Sandy Sholl and Adam Freede, have created a unique and different luxury market – which the company now dominates – for luxury distribution in the retail industry, specializing in full-line and off-price distribution. MadaLuxe Group also imports and distributes full-price timepieces from Ferragamo, Versace and Versus Versace, and is an equity owner of Haute Hippie, the high-end brand known for its strong, fashion-forward designs targeting the well-travelled woman with an international style.