Jim Gold has joined Moda Operandi as interim CEO. Getty Images
The online luxury e-commerce company know for its trunk shows, which offer designer items after they debut on the runway and before they hit stores, has a new leader. Srivats, who joined from Tesla in 2018, has exited and Jim Gold, former president of Neiman Marcus, is stepping in on an interim basis as of January 11.
Co-founder Lauren Santo Domingo remains in her role as chief brand officer. She is also on the board of the company, which counts Adrian Cheng, Apax Digital and New Enterprise Associates as investors.
Srivats joined the company shortly after it raised a $165 million round at the end of 2017, and his tenure was marked by an uptick in hiring — with several executives coming from Tesla and Jetblack, Walmart’s now-closed personal shopping services — as well as a high rate of staff turnover. A challenging warehouse move in 2018 that disrupted orders for many months.
In 2020, Moda Operandi started the year with layoffs and by shutting down its office in Shanghai before raising $100 million in equity and debt financing from existing investors. Facing further challenges, the company later shut down its men’s business and closed its London office with the exception of a few employees as part of further layoffs that saw the company cut around 100 jobs, about 30 percent of the workforce.
Gold stepped down from his role as president and chief merchandising officer of Neiman Marcus Group in 2019 after nearly 30 years with the company, and he previously worked as Bergdorf Goodman’s chief executive from 2004 to 2010.
“Jim brings with him extensive fashion retail experience and a deep understanding of Moda Operandi’s luxury consumer,” said Santo Domingo in a statement. “I look forward to working with Jim as we envision new and exciting ways to serve our extraordinary clients.”