Courage

Robin Lewis

New Chinese Proverb: Make Low Fast, Sell High Faster

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Shein (pronounced shee-in), the China based sizzling hot, (or should I say way cool), fast-fashion brand is transcending Zara, who created the model a couple decades ago. According to Statista, Zara is still ranked first in number of stores worldwide, (about 4500), with H&M second, (about 2500), and revenues of about $12.9 billion for Zara and about $12.5 billion for H&M. But Shein caught my attention big-time. Shein’s Astounding Growth So, what’s the big deal? First, since Shein is a private company, it has been estimated that …

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Victoria’s Secret: Is a Turnaround Possible?

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I coined the phrase, “positioning drift” to define the collapse of A&F about eight years ago, following about 25 years of incredible growth under the leadership of CEO Michael Jeffries.  “As Michael Jeffries heads into the sunset, he will be leaving behind a once victorious A&F brand that he brilliantly developed over the past quarter century that is now in tatters. He was blinded by meteoric success, in my opinion and did not see his adversaries gunning for his consumers as his brand drifted off course. That was Jeffries’ Achilles …

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Inventory Apocalypse

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As the famed retail icon, Mickey Drexler once said, “Inventory is the enemy of every retailer in the world.” And in today’s totally unknown and incalculable aftermath of ongoing waves of Covid, an inventory apocalypse is ravaging the retail industry. Last Saturday, the New York Times ran an article, titled “Retail’s ‘Dark Side:’ As Inventory Piles Up, Liquidation Warehouses Are Busy.” Duh!! What an understatement. When the CEOs of Walmart and Target indicated they were caught “flat-footed” with the amount of excess inventory that had piled up, …

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Under Duress, Amazon Cuts Back on Its Copycats

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Back in the day we called them “knockoffs.” For example, brick-and-mortar retailers would copy a brand’s best-seller summer dress and design a near duplicate for their own private labels. This still goes on, with just enough differentiation to avoid counterfeit status (street vendors selling “Rolexes” and “Louis Vuitton” bags notwithstanding). In China, however, where the word counterfeit does not exist (metaphorically), many manufacturers view “copying” as a compliment to the item’s originator. So, with today’s pragmatic Chinese menu, you get …

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Walmart Fashion: No Longer an Oxymoron

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As recently as five years ago, I would have said that Walmart fashion is an oxymoron. Denise Incandela joined the value behemoth in 2017 and is now Executive Vice President, Apparel and General Merchandise Private Brands, Walmart U.S. From that moment on, I knew it was the beginning of fashion’s ascendance for Walmart. She has made a remarkable impact on Walmart fashion over the past five years. Incandela Ascendant Incandela’s stints in senior positions at Saks Inc., Ralph Lauren, and CEO of Aerosoles represented the kind of leadership …

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The Good News and Bad News for Kohl’s

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In the middle of the barrage of acquisitors for Kohl’s, I wrote Two Real Estate Moguls. Note to Kohl’s: Repel, Repel, Repel. At the time, it was based on my belief that either of the two suitors -- Simon Properties and HBC -- would ultimately turn Kohl’s into a real estate move. David Simon, CEO of Simon Properties, and Richard Baker, CEO of the Hudson Bay Company, both became billionaires, not because of their retail acumen. They were, and still are mega-wealthy based on their brilliant abilities to unlock the value of retail real estate under …

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Will Gap Inc. Need a Fifth “Hail Mary?”

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I wrote in November 2021, Is Sonia Syngal Gap’s Fourth “Hail Mary?”, largely based on the three “Hail Marys” that preceded her, of whom failed to turn the declining brand around. I attributed a big part of their failure with the fact that none of the three had apparel retail experience. Go figure, when all four of Gap Inc’s brands are apparel. Perhaps the Board or certain members of it, did not want another “rock star merchant prince” to overshadow them, and who would come to personify the brand. Mickey Drexler left the helm of Gap in …

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Walmart and Target: Canaries in the Coal Mine?

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If Walmart and Target are canaries in the retail coal mine, maybe there’s a third canary in the economic coal mine named Elon Musk who recently said we are already in a recession. Think what you will about Mr. Musk and his eccentric and stratospheric imagination … maybe he’s right. My friend Richard Baum, Managing Partner of Consumer Growth Partners, reminded me that “It's pretty common knowledge that by the time the government officially declares that we are in a recession, the country is usually on its way out of it. Not real genius on Elon …

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