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Page Six is reporting that Aslaug Magnusdottir, the C.E.O. of Moda Operandi, has quit the company following personal differences with co-founder Lauren Santo Domingo. The Vogue contributor apparently didn't think Magnusdottir had the right touch to run a luxury online retailer.
Or as one anonymous source puts it, "Lauren felt Aslaug wasn't hip and cool enough." Ouch.
Magnusdottir, the first Icelandic woman to graduate with an M.B.A. from Harvard, founded a fashion investment fund with former Bloomingdale's president Marvin Traub and was a V.P. at Gilt before leaving to start Moda Operandi. She still appears on the company Web site and she did attend last week's Met Ball, which Moda Operandi sponsored. So if this is true, it's very recent news.
Magnusdottir has been largely absent from the wave of publicity the company has enjoyed in connection with its sponsorship of the gala and the exhibition, "PUNK: Chaos to Couture." It was Santo Domingo who spoke at the show's press preview, and who did numerous television spots and print interviews to promote the show and her company's involvement in it. That isn't necessarily a change from Moda Operandi's usual M.O., however: Santo Domingo has always been the more visible of the two founders.
The company has yet to comment on the rumors of Magnusdottir's departure. We've reached out to Moda Operandi's representative and will update if we hear back. — Jenna Sauers
· Moda Operandi's Fashion Breakup [P6]
· 7 Tips For Successful Start-Ups, Courtesy of Moda Operandi [Racked]
· Moda Operandi's Áslaug Magnúsdóttir On the Best Lipstick, Designer, and Trend of 2012 [Racked]