Mosaic Brands has appointed Erica Berchtold, former The Iconic CEO and Rebel Sport MD, as its new CEO.

Berchtold succeeds Scott Evans who is retiring after serving the company for nearly a decade.

“As we accelerate our big box and digital strategy, Erica not only has the right skillset to drive the future direction of the group but also a strong understanding of our customers as a former GM of of two of our brands,” said Mosaic Brands chairman Richard Facioni.

The incoming CEO expressed optimism about the company, noting the growing fashion market and demand for affordability.

“The huge shift to online in recent years also provides an enormous amount of data and information about those consumers’ shifting expectations and choices which will drive our strategy and direction,” said Berchtold.

“Low price is also not the antithesis of style. I will be looking to amplify the pride in our brands and the people behind them, in providing affordable fashion for all.”

Berchtold left The Iconic to take over as CEO of Best & Less Group in April last year and was due to start the role in September 2023. However, after BBRC acquired the company in June, it was announced that she would no longer be joining the business as CEO, and instead Ray Itaoui, a co-investor and long-time partner of BBRC would continue as CEO of the business.

Profit lifts on lower sales

During the fiscal first half, Mosaic Brands’ net profit surged 121 per cent to $5.4 million despite revenue decreasing 12.5 per cent to $234.1 million.

“The group has also made significant progress in securing a refinancing package with Hilco Capital that we expect to sign in the coming weeks which provides greater operational flexibility for Mosaic,” said outgoing CEO Evans.