- Robyn Turk |
American bridal wear chain David's Bridal will consolidate its design and product development operations. It explained in a statement that its new strategy is decided "in an effort to provide faster delivery of trend-right product to their customers at compelling prices."
David's Bridal had filed for chapter 11 bankruptcy protection in November of last year after years of struggling and debts. In the same week, the majority of its term loan lenders, senior noteholders and equity holders supported a restructuring support agreement that reduced the company's debt and allowed it to operate its business as usual.
The company's new plans for consolidation now brings all of its design functions in-house to David's Bridal's Chinese joint-venture partner Fillberg LTD. A team based in Hong Kong will prioritize designing contemporary products, improving speed to market and keeping prices competitive.
"We are thrilled to build upon the success of our long-standing relationship with Fillberg," said Tom Lynch, the newly-appointed CEO of David's Bridal said in a statement. "Our collective goal is to continually improve upon the product, resources, and customer service David's Bridal is providing to every person who comes into contact with our brand."