Two executives are promoted at Prive Revaux

The affordable eyewear brand promoted George Schmidt also Maureen Cavanaugh to new roles. George Schmidt has been promoted to the new general manager position at Privé Revaux and affordable eyewear brand.

Maureen Cavanaugh has also been promoted to chief operating officer.

In January, David Schottenstein founded Privé Revaux and resigned from the company after pleading guilty to insider trading. Schottenstein, a component of the Ohio family that gave its name in retail with Value City Department Stores, Filene's Basement, American Eagle Outfitters, and DSW, made more than $600,000 trading on information obtained from a relative who served on the boards of DSW and cannabis products company Green Thumb. 

Following his resignation, Schottenstein transferred his equity stake in Privé Revaux to Safilo Group, which had previously held a 64.2 percent stake in the company. It now owns 81.9 percent of the company.

Schmidt began his career as a marketing manager of corporate sales at L.L. Bean, and before joining Privé, he was vice president and general manager of Cheryl's Cookies.

"I came to Privé Revaux to catalyze growth for an already extraordinary company," he explained. "The combination of stylish, high-quality eyewear at an affordable price point, as well as the participation of our celebrity cofounders, provides an enormous competitive advantage that I am excited to be a part of."

Cavanagh will join Privé Revaux as senior vice president of global sales in April 2021.

Since its inception, Privé has collaborated with celebrities such as Jamie Foxx, Ashley Benson, Hailee Steinfeld, and "Riverdale" star Madelaine Petsch and model Adriana Lima.