The ironies that keep popping up at Amazon, post-Jeff Bezos’ departure as CEO, are truly astounding. And the one that stands out most is Amazon’s closing of all 66 Amazon Books in the U.S. and two in the United Kingdom. A Vision Lost? No one would argue that Bezos is a genius. Great entrepreneurs usually are (or they simply come up with a gee-whiz commonsense idea that nobody else had thought of). The only flaw in his greatness, as I have said before, is that he should have departed earlier before Amazon failed in its attempts at rolling …
Management
Why Not Start Off Your Year with the Deal Junkie?
Anybody who is anybody in the mainstream retail industry knows Gilbert Harrison, the founder and CEO of Financo, and now Chairman of Harrison Group. Simply put, Financo was a firm that did deals, and the maestro of course, was the founder, the ultimate “deal junkie” himself. Thus, his autobiography, recently published by Post Hill Press is appropriately titled …you got it, Deal Junkie. Book Report For those of us who have known Gilbert over the past half century, we know that his smiling face on the cover is both an engaging friend and …
RH Climbs a New Mountain
Gary Friedman is doing some serious mountain climbing and he’s bought himself some new gear to help get to the top. In releasing RH’s cautious third-quarter earnings in mid-December, CEO Gary Friedman announced the acquisitions of two furniture producers and the teaming up with noted interior design and architecture editor Margaret Russell (formerly of Architectural Digest) to head up its nascent media efforts that could include a luxury magazine for the design world. Taken together, these moves represent new assets Friedman believes …
CEO Craig Jelinek Leads Costco with Vision and Empathy
It seems like there has been a strong exodus of retail CEOs in 2022, particularly among highly visible retailers including Bed Bath & Beyond, Gap, Sephora, Under Armour, Bath & Body Works, FootLocker, and Kohl’s. There is no obvious thread that neatly explains such turnover. Certainly, the pandemic has changed the retail landscape, which may well have contributed to some of these departures. We’ve also seen a rise in corporate raiders putting pressure on boards to increase shareholder returns. Often those short-term strategies …
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Barbara Rentler Leads a 40-Year-Old Radical!
Ross Stores is on a roll. When many retailers are contracting, Ross is on the move opening 40 new stores this fall to meet its goals of 100 new stores in 2022 – delivering on its 2021 growth plans. It is the largest off-price apparel and home fashion chain in the U.S. Off-price has a key position in the retail pantheon, and Ross is crushing it delivering the experiential gift of surprise in the treasure hunt that consumers love and value as a reward. With its surging growth, CEO Barbara Rentler is leading a 40-year-old Retail Radical in a …
Lululemon Is a 2022 Robin Report Radical!
Talk to any lululemon customer and he or she will be the first to tell you that lululemon is a community, a club, an affinity group – anything other than a retailer. Calvin McDonald’s ability to not just sustain but to grow its already high level of customer engagement, revenues,and profits is a testament to understanding what customers want and need … and delivering on that consistently. whether it's outfitting customers to work from home, run errands in town, attend in-store yoga classes or stream fitness workouts from its Studio partners, …
American Eagle Outfitters: A 2022 Robin Report Retail Radical
American Eagle Outfitters is an amazing success story, propelled by next gens who love it for its honesty and relevant, trending style. It’s the perfect example of a brand from the early aughts that managed to evolve into a Gen Z go-to –– it’s exactly what Abercrombie wishes it could be. CEO Jay Schottenstein has led the brand to new heights as the pioneer in supporting body positivity, inclusive environments and connection with its customers and local communities. AEO came off the pandemic as a nonessential retailer with over $5 billion in …
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Lauder’s Fashion Sense: How Tom Ford Lured the Beauty Behemoth into Untested Waters
While I’m sure it was just the way it all shook out, there are only men - seven of them, in fact -- quoted in the mid-November official press release announcing the acquisition of Tom Ford by Estée Lauder Companies. Building the Empire In order, they are Fabrizio Freda, EL Cos. president and CEO; Ford himself; Domenico De Sole, co-founder and chairman, Tom Ford International; William Lauder, executive chairman, EL Cos.; Guillaume Jesel, president, luxury business development, EL Cos.; Ermenegildo “Gildo” Zegna, CEO, Ermenegildo Zegna …
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