Madison Reed has raised $32.1 million since launching 15 months ago.
Edmond Thomas had returned to the apparel retailer in 2007.
Edmond Thomas, president, CEO and director of The Wet Seal Inc., plans to leave the retailer of trendy apparel to young women when his contract expires Oct. 8. However, he could serve until the company finds a successor.
Thomas in 2007 signed a three-year contract to lead Wet Seal, No. 338 in the Internet Retailer Top 500 Guide. He had worked as the retailer’s president and chief operating officer from 1992 and 2000. Prior to his return, he worked as president and CEO of apparel retailer Tilly’s Inc.
"Ed led The Wet Seal during a difficult economic period. He leaves us with a strong foundation and exceptional balance sheet,” says Harold D. Kahn, chairman of the retailer’s board of directors. “We look forward to working with Ed during the transition period following the end of his term. We also plan to seek Ed's counsel in our deliberations to find a fitting successor."
Wet Seal in December launched its first mobile commerce site, and in April launched another one for the retailer’s Arden B. brand.