Dive Brief:
- As it works to build out its C-suite, DTC bedding brand Parachute on Tuesday announced it appointed Jeff Barker as its first chief financial officer.
- Barker previously served as the CFO and COO of JLab Audio and the CFO of TaylorMade Golf Company, according to a company press release. He helped co-lead the sale of TaylorMade from Adidas to private equity firm KPS Capital Partners. Barker also held a director-level position with Adidas in Brazil.
- In his new role, Barker will be responsible for leading all financial activities at the brand and building out his team.
Dive Insight:
Over the past three months, Parachute has built out its leadership team, naming a number of “firsts” to its C-suite.
In December, the DTC brand hired Amazon vet Drew Sheriff as its first chief commercial officer, focusing on retail, trade and customer service, including supporting Parachute’s store expansion and customer acquisition efforts. And in late January, the brand brought on Meredith Lamont to serve as its first chief merchandising officer. Lamont previously held leadership roles at Gap, Pottery Barn and Levi Strauss.
Hiring Barker as its first CFO follows the company’s previous moves of bringing seasoned retail veterans into its C-suite.
“Jeff has proven himself to be an exceptional financial leader in the consumer goods space, and I am so pleased to welcome him to Parachute and our growing C-Suite team,” Ariel Kaye, founder and CEO of Parachute, said in a statement. “As a financial leader, Jeff has significant experience managing large, diverse teams, and has repeatedly demonstrated his ability to successfully set up companies for sustained profitable growth. Beyond financial acumen, he brings a deep understanding of business operations from his COO experience, which gives him a unique business perspective that will undoubtedly add value to our team.”
Parachute, which began selling bedding in 2014, has expanded into other product categories like mattresses and furniture. In the year ahead, the brand said it will focus on launching into new product categories, expanding into new domestic and international markets, and growing its physical footprint. In January, Parachute said it plans to operate 30 stores by the end of the year, up from the 15 it currently has.
Over the years, many DTC brands have turned to brick and mortar in some fashion, whether through owned stores or partnerships with traditional retailers, as the limitations of selling exclusively online become apparent.
