Ex-Groupon Exec Patrick Schmidt Joins The Iconic as CEO

Australia’s turbo-charged fashion retailer, The Iconic has announced the appointment of Patrick Schmidt as its CEO.

Schmidt lays claim to 12 years of experience in online, retail and marketing, previously as International Vice-President of Groupon Latin America and Co-Founder of Groupon Australia, where he also held the title of CEO.

The Iconic has appointed Schmidt in order to continue providing an enhanced online customer experience through a “superior product range, continuous innovation and operational excellence,” the announcement states.

Patrick Schmidt
Patrick Schmidt, former Groupon exec has joined The Iconic as its new CEO

“I’m thrilled to be joining the fastest-growing online fashion retailer in Australia. THE ICONIC has redefined shopping in Australia. This is a company with great people, a clear strategy to sustainable success, and a total commitment to delivering an unparalleled customer experience, supported by amazing products, great service and the latest technology,” Schmidt said.

“Consumers are embracing our new iOS application at record levels with ~10,000 downloads per day since launch last week. With the recent investment of an additional AUD28 million, we will continue to expand our market leadership and build the one-stop online shopping destination for fashion, footwear and beyond.”

Co-Founder Adam Jacobs, who is expected to maintain his role as Managing Director, said the inclusion of a CEO with Schmidt’s level of experience will hopefully complement the existing team.

“This is a very exciting time in THE ICONIC’s history. Just as we are celebrating our 2nd anniversary, we are approaching one million orders being shipped,” Jacobs said. “Bringing on a proven CEO like Patrick now is a real coup.”

While The Iconic has weathered a high level of skepticism in the mainstream media – regarding the high level of funding it has received and questions over its long term sustainability – the inclusion of Schmidt should certainly go a long way to moving the business forward over the next 12 months.

What are your thoughts on The Iconic’s latest appointment? Will it be enough to shift this pureplay from a customer acquisition-focused business into a profitable online presence? Share your thoughts in the comments below.

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