The Tie Bar names Anand Shah chief executive

by Harry Sheff

The Tie BarCHICAGO–Online men’s neckwear and accessories retail The Tie Bar has named Karmaloop co-founder and former COO Anand Shah chief executive officer.

Greg Shugar, who has run The Tie Bar as CEO since he and his wife Gina founded the company in 2004, will assume the role of chairman and creative director.

“Anand Shah will be a great asset to The Tie Bar,” said Shugar. “His knowledge and understanding of the ever-evolving fashion and e-commerce industries will ensure continued success well into the future.”

Greg and Gina Shugar built The Tie Bar into a dominant player in online men’s accessories retailing with their $15 ties and tie bars. The company has expanded into other categories–pocket squares, money clips, socks and cufflinks–most of which sell for $20 or less. In 2012 Shugar and his wife doubled their sales from the previous year and hired 28 new people.