LXR APPOINTS LAURA SWAN AND NADINE EAP TO CO-CEOS

MONTREAL, June 27, 2023 /CNW/ - LXRandCo, Inc. ("LXR" or the "Company") (TSX: LXR), a North American socially responsible, digital-first omni-channel retailer of authenticated pre-owned handbags and personal accessories, today reported that effective July 1, 2023, Laura Swan and Nadine Eap have been appointed to Co-Chief Executive Officer and Co-Chief Executive Officer and Chief Financial Officer, respectively, reporting to the board of directors. As part of this planned transition, Valerie Sorbie will transition from Executive Chair to Chair and Cam di Prata will transition from the CEO role to director and Chair of the Compensation and Nominating Committee.

"Having had the pleasure of working with Nadine and Laura as part of a multi-year succession planning process, I am pleased to make this important announcement on behalf of the Board. While they will jointly manage the strategic activities of the Company, given their complementary strengths and expertise, Nadine will primarily focus on aspects relating to operations, HR, IT, sourcing, and finance & accounting, while Laura will primarily focus on revenue-facing activities and managing key partner relationships", said Valerie Sorbie the Company's Executive Chair.

Since joining LXR in 2019, Laura Swan has held the following positions of increased responsibility: Wholesale and Partnerships Director (June, 2019), Director of U.S. Sales (January, 2020), Chief Stores Officer (August, 2020), Chief Revenue Officer (April, 2021), Co-President and Chief Revenue Officer (2023) and now Co-CEO. A seasoned retail executive, prior to joining LXR Laura was VP, Merchandising for accessories and handbags at The Bon Ton (2016-2018), a member of the executive leadership team at Kohl's as Senior VP, Merchandising (2005-2014), Senior VP of Merchandising at Zales (1997-2005) and held various leadership positions at Macy's over a ten year period.

Since joining LXR in 2018, Nadine Eap has held the following positions of increased responsibility: Financial Controller (May, 2018), Interim Chief Financial Officer (September, 2018), Chief Financial Officer (September, 2019), Chief Financial and Administrative Officer (January, 2022), Co-President and Chief Financial and Administrative Officer (April, 2023) and now Co-Chief Executive Officer and Chief Financial Officer. Prior to joining the Company, Nadine spent seven years on the accounting side of Deloitte in both Canada and Australia (2004-2010), two years at technology firm Logibec (2010-2013) and four years at AIMIA, Inc. (2014-2018).

About LXR

LXR is a socially responsible, digital-first omni-channel retailer of authenticated pre-owned handbags and personal accessories. Since 2010, we have been providing consumers with authenticated branded luxury products from Hermès, Louis Vuitton, Gucci, Prada and Chanel, among other high-quality brands, by promoting their reuse and providing an environmentally responsible way for consumers to purchase luxury products. We achieve this through our digital-first strategy by selling directly to consumers through our website at www.lxrco.com and indirectly by powering the e-commerce and other platforms of key channel partners. Our omni-channel model is also supported by retail "shop-in-shop" experience centers and by wholesale activities with select retail partners across North America.

SOURCE LXRandCo, Inc.

Ms. Nadine Eap, Co-Chief Executive Officer and Chief Financial Officer, LXRandCo, Inc., [phone] ext: 037, [email protected]