It’s the tip of an era at Rag & Bone.

Marcus Wainwright, who cofounded the brand with David Neville in 2002, is stepping down as chief brand officer. Upon his departure at the tip of this month, he’ll remain a “significant” shareholder and a member of the board of directors, the corporate said.

The creative duties will likely be split between two of the brand’s longtime employees: Jennie McCormick, chief merchandising and design officer, who will oversee womenswear, footwear and accessories, and Kyle Sweeney, senior vp of men’s design and merchandising. The broader management team — chief operating officer Nicolas Vermot, chief people officer Rebecca Seidenstein and chief business officer Benjamin Harris — will remain in place.

Vermot runs the corporate on a each day basis and industry veteran Andrew Rosen, who serves as chairman of the board of Rag & Bone, can also be quite involved within the operation of the business, a spokesperson said. At one point, Wainwright and Neville had served as co-chief executive officers but Neville left the corporate in 2016 to work more closely in the wonder industry along with his wife Gucci Westman and her brand. Wainwright served as sole CEO until Stephanie Strack assumed that position in 2018 at which point Wainwright became chief brand officer. Strack’s tenure with the brand lasted only eight months, nonetheless, and Wainwright stepped in to steer the corporate with the chief management team and board of directors.

“Under Marcus’ leadership, Rag & Bone stood the test of time, and his talent and dedication over the past twenty years enabled the brand to depart an indelible imprint on the American fashion scene,” Rosen said. “Marcus’ legacy will likely be felt in those that will carry on the culture he created, his vision, and the Rag & Bone aesthetic.” He was unavailable for further comment.

Wainwright, who also declined to be interviewed, provided a press release about his departure: “I arrived in Recent York in 2001 with nothing but a backpack and no idea what to do with my life. Rag & Bone began 21 years ago, and after 84 seasons, 168 collections, a very wild ride and a number of the biggest experiences conceivable, I’ve earned a little bit of a break. I’m incredibly happy with this brand, all it stands for and all the things it has turn out to be. I’m also beyond grateful to our amazing team and each single one that has contributed a lot along the best way. I leave in place a passionate and supremely talented group of individuals, who I do know will proceed constructing the corporate that may without end be an enormous a part of my life.”

Wainwright broke the news of his departure to his staff Thursday in a letter where he said his decision to depart was “complicated…in one million ways. I really like you guys, I really like working with you daily, I really like making stuff and coming up with ideas for things that I hope are price making and that mean something to the those that wear them. However the time has come for me to show the page. After over 30,000 designs, tons of of shoots, infinite discussions on pocket shapes and whether to make use of riri zips, I could have spent over 7,500 days eager about clothes. For now, that’s enough and I’ll be saying farewell at the tip of this month.”

He said the creation and growth of the brand over the past 21 years has been “a crazy ride, filled with ups and downs, blood, sweat and tears, fun, emotion, creativity and innovation. Looking back, it’s hard to imagine how much has happened. I leave with the brand as strong as ever and with an incredible team driving it forward. It’s beyond emotional for me…however it’s time.”

Rag & Bone was created by Wainwright and Neville, who met as teenagers in England. That they had no design training but thought it will be fun to make clothes, so that they found a factory in Kentucky to make jeans. The brand expanded into sportswear in 2005 and Rosen became a partner in 2006. Although its heritage was in menswear, today Rag & Bone offers a wide selection of men’s and ladies’s ready-to-wear that mixes classic English heritage with an updated Recent York-skewed aesthetic. It’s best known for its denim and workwear-influenced tailoring but in addition creates a wide selection of accessories and footwear. The corporate operates 37 stores globally and is accessible in greater than 53 countries.