Alison Bergen, who served as P448’s first female CEO, is stepping down from the role.
According to the Italian footwear brand, Bergen will transition from CEO to executive consultant. A representative for P448 confirmed to FN that the company will not be filling the CEO role moving forward. Instead, the company plans to operate on a “three-pronged” leadership approach.
As such, P448’s new leadership structure includes EVP and CMO Lori Sigismondo, chief product & sustainability officer Sabrina Cohen, and global CFO Alberto Milanesi. Wayne Kulkin, executive chairman of P448’s parent company StreetTrend, will also support the team in this new format. These moves are effective Aug. 1.
Kulkin told FN that this new leadership structure “streamlines growth” with no silos in the “new reality” of global business. “P448 is projected for high growth, as we are on trend for 40 percent growth this year, as well as next year – and to achieve that we need to break down silo,” Kulkin said. “This approach will funnel fluid communications for a more modern and effective company structure.”
Bergen was officially named P448’s CEO in January but started with the company in October as interim CEO. At the time, the company said she would be tasked with transitioning the company from a start-up business model to a mid-market company organization. She also led efforts in growing the men’s business, international and wholesale partnerships.
Bergen’s previous roles include CEO at Earth Shoes and Aerosoles. She has also held leadership merchandising roles at Louis Vuitton, Michael Kors and Diane von Furstenberg.
This is the latest news from the footwear brand’s parent company. Last week, StreetTrend announced it had partnered with Mark Wahlberg’s Municipal brand on expanding the sports utility brand into footwear.
StreetTrend was established in 2017 as a joint venture between Kulkin, the former CEO of Stuart Weitzman, and Jeffrey B. Hecktman, CEO of the international financial services firm Hilco Global.
In 2018, StreetTrend acquired a 30 percent stake in P448. Prior to this deal, Kulkin had signed an exclusive distribution and marketing agreement with P448 in 2017. Then in Oct. 2020, StreetTrend outright bought the made-in-Italy footwear brand from NoThanks SpA for an undisclosed sum.
