American Apparel CEO Dov Charney reportedly lied about his company’s profits and boasted about the sexual-impropriety lawsuits against him in a CNBC appearance Tuesday. Last month, George Soros' Chrystal Financial invested $80 million in American Apparel to help turn the company around. According to Business Insider:
This morning on CNBC, Charney said that American Apparel's "gross margins are as high as a luxury brand like Prada's."
That's hard to believe since American Apparel sells hipster trendy clothes and Prada's a high-markup luxury brand. Is it really true?
According to the most recent data from the SEC and SEHK, American Apparel's gross margin each quarter over the past few years has hovered between 50 and 60 percent, whereas Prada's has been around 70 percent. …
When asked about the nine lawsuits he's dealt with in the past few years, including claims of sexual misconduct — which played a huge role in jeopardizing the company's bottom line — Charney said, "Nine lawsuits — that's a testimony to success."
CNBC host Jane Wells also pressed him on if he's inappropriate or, at the least, weird.
Charney responded with: "Weird? I like weird."
Soros recently denied allegations that he choked his 28-year old former companion in a dispute over property.