NEXT with TIGER 21 David Jaffe: Ascena Retail Group CEO on Scaling Family Business, Investing, and His Next Chapter
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Jul 24, 2024 David Jaffe, a retail titan and philanthropist, transformed Dressbarn into a $7 billion success story. In this engaging conversation, he shares his experiences of scaling a family business and the challenges of ensuring a smooth succession. Jaffe discusses his transition from corporate leadership to impactful philanthropy, emphasizing the significance of aligning career choices with personal passions. He delves into the emotional journey post-retirement, the value of mentorship, and the importance of addressing social issues like climate change through strategic initiatives.
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David's 10-Year Rule Anecdote
- David Jaffe gained 10 years of work experience outside the family business before joining Dress Barn.
- This included Wall Street and venture capital, which prepared him for strategic retail leadership.
Unique Paths in Family Business
- Each family member's connection to the family business should be unique and personal.
- Avoid forcing expectations; let each person bring distinct value to the business.
Casualization Challenged Retail
- Changes in consumer behavior can deeply impact retail sectors tied to formal attire.
- The casualization trend made traditional Dress Barn business models challenging.