One of the new owners, former Canadian Tire marketing executive David Lui, to become CEO of the new brand
Mr. Wilson told The Globe and Mail at the time that Kit and Ace had run into problems with suppliers, and had misjudged customer demand for certain items.
Kit and Ace now has four stores across Canada, which make up roughly 25 per cent of its sales with e-commerce accounting for the remainder. The brand sells online to Canada, the U.S., Australia and New Zealand, and parts of Europe and Asia. The new owners plan to revamp the product assortment starting in spring of next year, redesigning some of the women’s line, adding new styles and colours, and building on the popularity of strong sellers such as its men’s Commute Pant and polo shirts.
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