Fennell will also stand down as a company director. The group said it is in discussions with Fennell regarding a long-term design contract. Fennell said: “Design has always been the hub of my professional life and so it will remain. However, there are a number of other design areas outside luxury goods with which I would like to become involved.”
The retailer revealed that sales in the year to date have soared 13 per cent, compared with the same period last year.
Pamela Harper was appointed chief executive of Theo Fennell at the end of last year. She is understood to have been brought into the business to help drive international expansion.
Seymour Pierce analyst Andrew Wade said: “This change looks to be the next step in the evolution of the business and an acceleration of plans that were already on the table. It seems that Theo will focus his efforts on being a designer, spokesman and
ambassador for the company, releasing his administrative responsibilities. It seems that this has been the medium-term plan for some time, but has been accelerated by the arrival of Pamela Harper as chief executive.”