River Island CEO Will Kernan to stand down
River Island CEO Will Kernan is to stand down after the three years at the helm of the fashion chain.
Kernan, who joined the business from online cycling retailer Wiggle in 2019, is leaving to "pursue personal interests", according to Retail Week. He had previously been CEO at The White Company.
River Island is owned by the Lewis fashion retail dynasty and Kernan is understood to be working with Clive Lewis, chairman of the business and son of founder Bernard Lewis, on a handover. He will be leaving the business in 2023.
Kernan is reported to have told executives at River Island: “My affection for the River business, its core values and the Lewis family make my decision to move on all the more difficult, but I am excited by the prospect of my next chapter.”
Will Kernan
Meanwhile Clive Lewis said: “I am sorry to see Will go and wish him all the best for the future. We have a very strong team and full confidence in our ability to transition smoothly.”
The River Island business returned to profit in its accounts filed for the year to December 2021 showing an operating profit of £73.5m on sales up 23% to £740m. In the prior in which it bore the brunt of the impact from the pandemic, it had posted losses of more than £36m.
River Island has been a pioneering force on the British high street. It was founded by the now 96-year-old Bernard Lewis in 1946 as Lewis Separates, which went on to become a national chain. It was transformed into Chelsea Girl in the 1960s and then River Island in the 1980s. The business was believed to have been the first to manufacture its own clothes, rather than buy through wholesalers, and the first UK fashion retailer to source from Hong Kong.
More recently it has innovated once more with the new River Studios concept at the Derbion shopping destination with more to follow at Rushden Lakes, Blackpool, Luton and Thurrock.
Bernard Lewis was the guest of honour at the 125th anniversary dinner of retail members group The 20 Club, held last month. Read the report of our columnist Eric Musgrave, who carried out an on-stage interview with "Mr Bernard" at the event, here.
