How Ashley Stewart leveraged its brand power and saved a business

Reed Karaim

Ashley Stewart, the plus-size clothing retailer for women, drew upon an extremely strong brand for support as it sought to rebuild its ailing business.

Ashley Stewart, a plus-size women's clothing company, was almost universally considered to be a lost cause.

One person who did not share this gloomy perspective was James Rhee, who took over as the retailer's CEO in 2013 – even stepping down from the board of FirePine Group, the private-equity company he founded, in order to do so.

The prospects were not good: Ashley Stewart, which primarily operated in inner-city neighborhoods, was on the verge of a second bankruptcy in three years. "Unfortunately, the history of the business was that it was a bit of a laughing-stock business – or a...

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