Divya Mathur, chief merchant of Intermix, has resigned from the company, WWD has learned.
Intermix officials didn’t return an email seeing comment, but informed market sources said that Mathur resigned Friday.
Mathur had been in the role since January 2020 and earlier was head of buying of women’s apparel at Shopbop, where she worked for nearly four years. Some of her earlier roles included senior director of global e-commerce buying and site merchandising at Michael Kors, head of U.S. merchandising at Yoox Group, and a buyer at Saks Fifth Avenue for five years.
Mathur couldn’t be reached to comment on her plans.
As reported, Intermix, a multi-brand retailer which has been experiencing financial problems, was recently sold to private equity firm Regent L.P. There are 29 Intermix stores across the U.S., along with an online business.
WWD reported last week that vendors were being asked to take a 50 percent cut in what they’re owed for prior shipments, and to take a 50 percent cut in first and second quarter payables.
One vendor told WWD that she was told that Intermix wouldn’t be paying anything to vendors through the end of this year on past shipments, which is wreaking havoc on small manufacturers.
According to sources, Mathur didn’t want to be part of giving this payment plan proposal to her vendor relationships that she didn’t agree with, and didn’t want to put her name behind these agreements. “She didn’t ethically or culturally align with what they asked her to do,” said one source.
Gary Wassner, chief executive officer of Hilldun Corp., the factoring firm, said, “If it’s true, it’s disappointing. She’s great. She had very strong vendor relationships. I’ve known her a long time. She’s really talented and she’ll land on her feet.”
Wassner said Intermix hasn’t paid Hilldun anything since theamultia multi0retailer’s initial determination to stop making trade payments.