Supertrash CEO Olcay Gulsen steps down
Supertrash CEO Olcay Gulsen is leaving the company. The Dutch entrepreneur announced on Monday that after twelve years at Supertrash, she is now focusing on her television career.
According to Dutch business magazine Quote, Gulsen is succeeded by Charles Paape, effective immediately. At the moment Gulsen is a contestant in a popular television show. She also works as a lifestyle reporter for the Dutch television program, RTL Boulevard. She told the latter: “I feel the need to be more creative.”
Before joining Supertrash, Paape held positions at Free Record Shop, The Phone House and Dixons, where he was CFO and CEO.
Supertrash was founded by Ava Rily in Los Angeles. Gulsen imported the brand to the Netherlands, as part of her company 2Stepzahead. From 2009, when Gulsen became the owner of the label, Supertrash quickly grew to 1,600 points of sale internationally and 30 brand stores in the Netherlands, Belgium, the United Kingdom and Hong Kong.
In 2016 Supertrash announced that it would transform all 30 brand stores into ST.studio, a high-end label targeted towards women aged 30-45, and focused on exclusive service and customer experience. Supertrash remained available as a wholesale brand.
A year later, Quote reported that Supertrash recorded a loss of three million euros in 2016. In March 2017, the fashion company received a capital injection to avoid liquidity shortages. The investment amounted to ‘several millions’, which was paid by a group of anonymous investors, according to Quote.
However, Gulsen stated the story was not true and told the magazine: “It is true that ST.Studio is not yet profitable, but we only launched a year ago.” She added that the only problem the company was facing at the time had to do with a foreign bank.
Olcay Gulsen will remain creatively involved with Supertrash.
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