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Cygne Designs, Inc. (CYDS) Announces the Appointment of Jay Furrow as Chief Executive Officer

Cygne Designs, Inc. (NASDAQ: CYDS), a designer, merchandiser, manufacturer and distributor of branded and private label women’s denim, casual and career apparel, recently announced the appointment of Mr. Jay Furrow as the company’s new president and chief executive officer effective immediately. Mr. Bernard Manuel, the current chairman, president and chief executive officer, will continue to serve as chairman of the board for the company.

Mr. Furrow has broad-based experience in the apparel industry and has served in numerous executive capacities throughout his career. Most recently, Mr. Furrow served as the chief executive officer of Innovo Group, Inc., now known as Joe’s Jeans, Inc. (NASDAQ: JOEZ). In addition, Mr. Furrow was one of the original founders of the Joe’s Jeans brand and was instrumental in the company’s early growth.

Mr. Furrow’s appointment as president and chief executive officer will help Cygne Designs position itself as one of the premier suppliers in the apparel industry. As part of his incentive package, the company has granted Mr. Furrow a fully vested 10-year option to purchase 1 million shares of Cygne’s common stock at a price of $0.30 per share.

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