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Rag & Bone’s David Neville Steps Down as CEO

Photo: Slaven Vlasic/Getty Images

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Another day, another exit in the fashion industry: Rag & Bone is losing one of its CEOs. Business of Fashion reports that David Neville is stepping down from his day-to-day responsibilities with the brand.

Neville will stay on Rag & Bone's board of directors and will not be replaced. He has been with the brand 10 years and has known Wainwright since childhood. Now, Marcus Wainwright will become the brand's only CEO.

The pair founded Rag & Bone in 2004, as friends without any design experience or training. They were driven to create clothes for themselves — as Wainwright told Women's Wear Daily in 2014, he couldn't find "the perfect pair of jeans." The brand expanded into womenswear as well as accessories, including women's leather booties that became an ubiquitous trend item around 2013. In 2014, they were nominated for CFDA Fashion Award for Menswear Designer of the Year.

Neville's exit comes as Rag & Bone's overall sales are up 20% in 2016, and the New York-based brand is opening more stores. The company also dropped a new ad campaign just this month, called the Men's Project, that "speaks to the diversity of the Rag & Bone man," Neville told Women's Wear Daily.

Now it sounds like Neville wants to try something new, telling BoF that his next step will involve helping his wife makeup artist Gucci Westman start her own beauty and skincare brand. That's something to look forward to, even as Rag & Bone is in the midst of transition.