Luxury Fashion Game Drest Appoints New CEO
Luxury fashion game developer Drest announced a change in leadership Friday morning, with founder and chief executive officer Lucy Yeomans handing the CEO reins to chief operating officer Lisa Bridgett.
The London-based start-up described the move as “part of a planned management team evolution,” necessitated by high growth and traction for the business. Yeomans, previously of Harper’s Bazaar U.K. and Net-a-porter, will step away from the position, but not the company, as she transitions to co-chairman and chief brand and product officer. Drest did not specify when the switch will take effect.
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Bridgett called Yeomans a “visionary in the content and technology product innovation space” and credited her predecessor with changing users’ experience of luxury.
The new CEO brings extensive experience in technology, digital and e-commerce, having worked at Ralph Lauren, Net-a-porter, Accenture and Universal Music before joining the company. Her first priorities will be on driving development across gaming, media, data and e-commerce.
“In my role, I will be focused on scaling Drest through our developer ecosystem, marketing channels and strategic revenue streams, building on the impressive growth our user base is experiencing,” Bridgett said in prepared remarks. She will also take a seat on the board.
Yeomans has been the face of Drest since its launch in October 2019. Some of her new responsibilities will resemble her old ones, including spearheading strategic product, partnerships, brand and creative development, though she looks forward to focusing on them more deeply, she said.
In addition, she will also help carve the platform’s path into metaverse development.
“We have reached an exciting moment in Drest’s trajectory and, as is necessary for all start-ups at this stage, we are setting up all elements of our business for long-term success,” the outgoing CEO said.
In two years’ time, the app has amassed more than 250 luxury brand partners, including Gucci, Bottega Veneta, Prada, Off-White, Loewe, Chloé, Cartier, Burberry and Stella McCartney. Last year, the app saw 250 percent user growth, according to Drest’s data, so it’s embracing the executive shuffle in hopes of keeping the acceleration going.
For Yeomans, Bridget was “the natural choice,” she explained. “She is an inspiring and impressive global business leader, having achieved success with her dynamic digital competence across the industries of music, fashion and gaming.”
She’s also thrilled that, even with the changes, Drest remains a women-led gaming business.
“I’m especially proud of the fact that, in an industry where women make up the majority of the market — 62 percent of mobile games players are female and yet 84 percent of all executive positions are held by men — Drest has two women at the helm,” Yeomans added.
“We’re challenging the status quo and, hopefully, setting a trend.”
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