REI Names Kristin Shane Chief Merchandising Officer
REI Co-op has brought Kristin Shane on board as its chief merchandising officer.
She succeeds Chris Speyer who left REI last summer. Since that time, Susan Viscon, executive director of the company’s Path Ahead Ventures, has been serving as interim chief merchant.
In this position, Shane will be responsible for developing and implementing the vision and strategy across REI’s different merchandising categories to drive growth. She’ll oversee the teams focused on identifying new category and brand opportunities for the co-op, work to enhance regional and local relevancy in the product assortment, elevate existing brand relationships and grow REI’s private label.
Mary Beth Laughton, REI Co-op president, said Shane’s “leadership and decades of experience working with an array of consumer and retail brands is sure to inspire innovation and play an instrumental role in furthering our mission to help people get outdoors.”
“As a lifelong outdoor enthusiast and longtime co-op member, I’m thrilled to be joining REI,” Shane said. “I look forward to building on the co-op’s legacy in the outdoor industry and continuing to ensure we lead with innovation, newness and incubating emerging brands that will introduce more people to the transformative power of the great outdoors.”
Shane’s background includes executive vice president, chief merchandising and marketing officer for Guitar Center, senior vice president and chief merchandising officer for PetSmart and vice president and merchandise manager for the beauty and personal care business at Target.
REI, the Seattle-based outdoor specialty retailer, reported a net loss of $311 million in 2023, its second consecutive year of losses, on a 2.4 percent decline in sales to $3.76 billion. Figures for 2024 have not yet been made public.
REI is a consumer cooperative and reports its financial results to members every year. Last year, figures were released at the end of April. The company attributed the 2023 loss to continued investment in hourly employee pay, commitment to providing a member reward and a $169 million non-cash valuation against future tax credit.
The company has been making moves to return to profitability. Earlier this year, it said it was shuttering its money-losing Experiences adventure travel business after close to 40 years, eliminating 428 employees: 180 full-time employees and 248 part-time guides. In January of 2024, REI laid off 357 people across its organization and at the end of last year, the company exited the branded footwear business.
