On the strategic level, Monica engages with several exciting projects and initiatives that align with FATH visions for the future....
Jonathan Melegrito
Chief Financial Officer, Purple Brand
Jonathan Melegrito
Chief Financial Officer, Purple Brand
Introducing the linchpin of fiscal strategy and stability within any organization: the Chief Financial Officer (CFO). As the guardian of financial integrity, the CFO plays a pivotal role in steering the financial course of a company, meticulously tracking cash flow, conducting in-depth financial analysis, and formulating strategic directions. Their purview extends beyond the day-to-day financial operations, as they also serve as strategic advisors to the CEO and other key stakeholders.
In the realm of contemporary fashion, one standout CFO exemplifies the essence of financial leadership and innovation: Jonathan Melegrito of Purple Brand. With a keen eye for financial intricacies and a steadfast commitment to excellence, Melegrito has emerged as a beacon of financial stewardship within Purple Brand. Melegrito’s remarkable contributions have not gone unnoticed, as he has garnered recognition among The Most Impactful CFOs to Watch in 2024.
From the Scratch
Born in British Columbia to parents from the Phillipines, who emigrated to Canada, Jonathan Melegrito grew up amidst picturesque sceneries of oceans, mountains, forests and lakes. He cherished the diverse community that surrounded him—a vibrant blend of immigrant families from around the globe intermingled with the local First Nations.
The eldest of four boys, Melegrito was an energetic-youngster and a fierce spirit filled with competitiveness and fairplay. Encouraged by his parents, he enthusiastically participated in a myriad of activities. From cub scouts to soccer, bowling to basketball, swimming to figure skating—anything to channel his relentless drive, kept him super engaged.
Even though Melegrito’s parents weren’t from affluent backgrounds they tried their level best to build a happy life in Canada, which boosted in him a strong pursuit to strive hard too. His Mom worked as a public practice accountant and his Dad was an office manager for the Prince Rupert Canfisco location. While growing up he often visited them at work and remembered seeing them dressed up, sitting at their desk engaging clients or colleagues with a smile on their face. These experiences, along with the fact that he had an inate entrepreneurial spirit, naturally lead him towards a career in finance.
Charting a Course
Having completed his Bachelor of Commerce degree with a specialization in accounting from the University of British Columbia Sauder School of Business, Melegrito began his professional journey by articling with KPMG, where he obtained his CPA, CA designation. Following this, Melegrito embarked on a year-long journey through Southeast Asia to broaden his horizons before delving into his career.
Upon returning to Vancouver, Melegrito secured a finance role at the head office of Sierra Systems Group Inc., a publicly traded IT services and management consulting firm. In May 2012, Melegrito received an unexpected opportunity to join Herschel Supply Company Ltd. as their Head of Finance, marking the beginning of an exhilarating chapter in his career. His tenure at Herschel, initially as the 12th employee, saw him play a pivotal role in steering the company through rapid growth and cultural significance.
Journey Towards Purple-Brand
After nine years of dedicated service, he made the decision to step down from his role as SVP, Finance, seeking a well-deserved career break following a period of personal and professional challenges.
After spending 18 months rejuvenating both mentally and spiritually during a period of “fun-employment,” Jonathan Melegrito felt a renewed sense of purpose and readiness to reenter the workforce.
With a clear vision of wanting to contribute to the retail industry, particularly with a brand primed for growth and relevance, Melegrito set his sights on a position that offered more than just a paycheck. He sought out an environment filled with talented individuals and supportive owners who would empower him to leverage his expertise and create meaningful value. The opportunity to join Purple Brand as their CFO emerged as the perfect fit, ticking off all the criteria on his list. He joined the team in December 2022.
As the CFO
In his role as CFO of Purple Brand, Jonathan Melegrito leads both the Finance and People & Culture teams, assuming accountability for their respective functions. This includes overseeing financial reporting and compliance, managing budgets and working capital, asset safeguarding, risk management, and FP&A, alongside ensuring the optimization and positive engagement of the workforce. Recognizing the need for rapid advancement in these areas, Melegrito swiftly scaled up his teams’ capabilities both locally and internationally.
A central focus of Melegrito’s mandate is to elevate brand and enterprise value, a responsibility entrusted to him as the sole C-suite member. Empowered by the partners, he helps shape the company’s strategies and pace, relishing the opportunity to chart the course for Purple Brand’s future. Starting with a holistic approach, Melegrito strategically evaluates the company’s objectives, resource requirements, and priorities, conducting comprehensive financial analyses with sound business sense.
When we personally asked Melegrito to talk about a few of the biggest achievements Purple-Brand has achieved under his leadership, he shared – “and launching a highly anticipated Women’s line for the SS24 season.” “Also, in July 2024, Purple Brand is set to open its inaugural retail store, a flagship establishment in Soho, New York, poised to exemplify the quintessential Purple Brand experience”.
Furthermore through the conversation Melegrito also spoke about how he is spearheading plans to expand further, with five additional locations slated to open within the next eighteen months.
Looking ahead, Melegrito highlighted Purple Brand’s exciting project pipeline, teeming with new product categories and collaborations, including a partnership with Mitchell & Ness for the NBA, signaling continued innovation and market presence.
On a Personal Note
Jonathan Melegrito finds immense joy in his work, driven by his passion for what he does. Energized by fulfilling workdays, he prioritizes maintaining a healthy work-life balance, a value echoed by Purple Brand’s ownership. Despite their unwavering commitment to building the brand and producing top-quality products, they emphasize the importance of family and personal time.
Outside of work, Melegrito leads a balanced and fulfilling life. He enjoys a variety of activities, from watching or playing sports to spending quality time with family and friends. Exploring new restaurants, attending events, golfing and soaking up the vibrant atmosphere of Vancouver summers are among his favorite pastimes. In winter, he embraces snowboarding adventures. With his three-year-old poodle named Django, he relishes daily walks and playtime. Melegrito’s passion for music extends to live DJ sets for friends, discovering new songs and going to concerts.
His wife Leah has been a longtime source of love and support. Cooking with her is a cherished activity, often involving experimenting with new recipes or hosting cooking competitions with friends. Traveling, whether locally in Canada or internationally with her or close friends, is a source of joy and inspiration for Melegrito. Always eager to embrace new experiences, he occasionally ventures into unconventional pursuits like bungee jumping, paragliding, whitewater rafting, or even growing his own mushrooms.
Jonathan Melegrito acknowledges that there is still much to explore within the higher-end fashion industry, particularly in mastering the intricacies of managing successful Purple Brand retail stores. Recognizing the challenges posed by economic factors such as interest rates and inflation, Melegrito anticipates the need to navigate these headwinds to propel Purple Brand towards its full potential.
On a personal level, Melegrito harbors aspirations of achieving a more balanced lifestyle in the future. While committed to his current role, he envisions transitioning to a less demanding work schedule later in life, allowing him to indulge in his passion for travel, tick off bucket-list experiences, and savor quality time with loved ones.
Company
Purple Brand
Management
Jonathan Melegrito
Chief Financial Officer
Description
PURPLE was founded in 2017 at the intersection of industrial design, streetwear and luxury fashion. A collective of friends and industry veterans sought out to launch a collection of men’s denim and luxury basics.
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