Egan, who oversaw the handover of the business to Mosaic in 2006, told Retail Week that he will leave the fashion and footwear business at the end of March, but would remain a shareholder in Mosaic.
He said: “We are 18 months into the acquisition by Mosaic. We have done a lot of integration with the shoes and clothing brands.
“I will take some time out and then I will look at all the different opportunities out there. My next move will be in an investment or management opportunity within the fashion and footwear sector.”
SSG was founded by Baugur board director Don McCarthy in 1991. Egan joined the group, which includes brands such as Principles and Bertie, in 1999 and took over as chief operating officer in November 2006 after the sale of the company to Baugur-owned Mosaic.
Egan said he will assist the company with the search for his replacement, who must be able to “understand brands” and maintain good relationships across businesses. SSG has launched footwear in other Mosaic brands including Warehouse and Karen Millen, as well as in All Saints in which Baugur has a stake.
He added: “The next year or so for Shoe Studio will be one of consolidation. But, if retail remains difficult, it is also the best time to acquire.”
Mosaic chief executive Derek Lovelock said that Egan’s departure will "absolutely" not presage a hiving off of the company from Mosaic, after it was announced this week that Mosaic’s womenswear brand Whistles had been acquired by a company headed up by retail guru Jane Shepherdson and backed by Baugur (Sheperdson's retail return).
Amanda Burrows, who was previously brand director at Whistles, will act as interim managing director at SSG until a replacement is found.
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