Lulus Appoints Kira Yugay to the Board of Directors

Rhea-AI Summary

Lulu’s Fashion Lounge Holdings (Nasdaq: LVLU) announced the appointment of Kira Yugay to its Board of Directors, effective immediately, replacing Tom Belatti, who resigned on March 30, 2022. CEO David McCreight expressed enthusiasm for Yugay's operational expertise and tech background, anticipating her contributions to the company's growth strategy. Yugay has significant experience in private equity, notably at H.I.G. Capital, focused on technology investments, and has held roles at Warburg Pincus and Greenbriar Equity Group. Lulus emphasizes customer feedback in its digital fashion business with fresh inventory and exceptional service.

Positive

• Kira Yugay's appointment brings operational and technology sector expertise to the Board.
• Yugay's experience in private equity and transaction processes is expected to support Lulus's growth.
• CEO expressed strong confidence in Yugay's capability to enhance shareholder value.

Negative

• Tom Belatti's resignation may raise concerns about continuity and experience on the Board.

CHICO, Calif., March 31, 2022 (GLOBE NEWSWIRE) -- Lulu’s Fashion Lounge Holdings, Inc. (“Lulus” or the “Company”) (Nasdaq: LVLU) today announced the appointment of Kira Yugay to serve on its Board of Directors (“Board”), effective immediately. Ms. Yugay is replacing Tom Belatti on the Board. Mr. Belatti, a Vice President at H.I.G. Growth Partners and a director of Lulus since June 2021, submitted his resignation from the Board, effective March 30, 2022.

“We are very pleased to have Kira join our Board of Directors,” said David McCreight, Chief Executive Officer of Lulus. “Kira’s strong operational background and experience in the technology sector will be a valuable resource as we continue to grow and optimize our unique, digitally native platform.”

“I’m thrilled to join the Lulus Board of Directors and work closely with this talented and dynamic management team,” said Ms. Yugay. “Lulus has an impressive trajectory, and I’m eager to partner with them through their next phase of growth to continue the momentum and deliver value to shareholders.”

Since 2019, Ms. Yugay has served in roles of increasing responsibility at H.I.G. Capital, a leading private equity investment firm, where she currently serves as a Principal. At H.I.G. Capital, Ms. Yugay focuses on private equity investments in middle market businesses in the technology sector and is responsible for all key aspects of the transaction process, including deal origination, transaction structuring and negotiating, and post-closing portfolio company oversight.

Prior to joining H.I.G. Capital, Ms. Yugay held private equity investing roles at Warburg Pincus between 2014 and 2018 and at Greenbriar Equity Group between 2010 and 2012. She has also held operating roles at healthcare services and technology companies. Ms. Yugay began her career at Citigroup, where she advised clients on M&A transactions, capital raises, and other strategic initiatives. Ms. Yugay earned her undergraduate B.A. degree, summa cum laude, from Columbia University and M.B.A., with distinction, from Harvard Business School.

About Lulus

Lulus is a customer driven, digitally native fashion brand for women. Based in California and serving millions of customers worldwide, Lulus develops styles with the customer in mind, using direct consumer feedback and insights to refine its products. With fresh inventory hitting the site almost daily, Lulus features on-trend, high-quality, must-have pieces, at affordable prices. As a brand built on customer feedback, Lulus puts an extreme focus on providing exceptional customer service and a personalized shopping experience. The brand’s world class personal stylists, bridal concierge, and customer care team take pride in offering a personalized shopping experience to every customer. Lulus was founded in 1996. Lulus is a registered trademark of Lulu’s Fashion Lounge, LLC. All rights reserved.

Contacts

Media

Noelle Sadler
Chief Marketing Officer
noelle@lulus.com

Investors

Crystal Landsem
Co-President and Chief Financial Officer
investors@lulus.com

FAQ

Who is Kira Yugay and what is her role at Lulus?

Kira Yugay has been appointed to the Board of Directors of Lulus, replacing Tom Belatti.

What was the reason for Tom Belatti's resignation from the Lulus Board?

Tom Belatti submitted his resignation, effective March 30, 2022.

How might Kira Yugay's experience impact Lulus?

Yugay's operational background and experience in technology investments could enhance Lulus's growth and shareholder value.

What is Lulus's business model?

Lulus is a digitally native fashion brand focused on customer feedback, offering high-quality styles at affordable prices.