Stephen Craig exits fashion retailer Blanco amid management shake-up

Craig, the former chief executive of All Saints, joined the fashion retailer in July last year after a four-year absence from the industry.

In a statement late yesterday, Blanco’s owner, the Saudi-based retail franchise giant Alhokair confirmed the exit of Craig.

Creative director Amy Molyneaux, chief operating officer Paul Seston and production director Matt Arrowsmith have also left the firm, which was formerly known as Suiteblanco before a rebrand last year.

No reason was given for their departures.

Craig, who spent five years at All Saints, was charged with leading a turnaround of Blanco, which as of last year had 190 branches internationally, including 121 in Spain. 

Suiteblanco was established in the 1960s during Spain’s Franco dictatorship by Bernardo Blanco, but hit difficulties and went into administration in 2013.

On joining Blanco, Craig said: “I embrace the opportunity to revitalise the brand and return it to its former glory.”

Simon Marshall, Alhokair’s group chief executive and head of business development, has taken on the running of Blanco with immediate effect.

“The future of the business will be monitored directly by the group general management during the next two years for the next stage of growth,” a statement said.

But it added: “Alhokair confirms its confidence in the project, its total commitment to grant viability and the continuity of the business in the international market.”

Alhokair Fashion, which acquired Suiteblanco in 2014, runs 2,100 stores in 17 countries with partners including M&S and Tesco’s F&F.