Arden B Closing, Wet Seal Inc. Announces
Another brand once riding high in the 90s and 2000s is seeing its doors shut for good. Arden B, the adult-targeted division of Wet Seal Inc., will see all 54 of its stores close this year in a move to shore up Wet Seal Inc., reports Market Watch.
Over the next three months, the company will transition 31 Arden B stores to locations of Wet Seal Plus, the brand's plus size line, and the remaining 23 spaces will become Wet Seal stores. In a statement, Chief Executive Officer John D. Goodman explained the decision:
“This was a difficult decision that followed a comprehensive review of the business and market dynamics. With this process underway, our management team and Board of Directors will be focusing greater attention on our sweeping strategic initiatives, and this change positions us to take advantage of opportunities for growth within the Wet Seal brand.”
Recent reports have confirmed that Wet Seal Inc., as part of their turnaround plan, has decided to take a higher stake in the plus size market and this may be step one of that strategy. Perhaps a hard push into this vastly undeserved market is just the jolt needed to bring the company from the brink.