The podcast delves into AI advancements on smartphones and PCs, real-world applications of AI, the impact of women in VC decision-making, challenges in genetic testing, and the transition of a men's brand to target women's market. It also explores isolation at sea, weekend getaways from London, and highlights in London theater.
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Quick takeaways
ROME expanded into women's apparel to diversify offerings and cater to female customers' needs.
Communication challenges arose when transitioning to women's line, requiring a strategic approach to target female customers effectively.
ROME aims for a balanced revenue mix between men's and women's collections by focusing on performance lifestyle and mental fitness products.
Deep dives
Introduction of Women's Line
ROME, an active wear apparel brand, known for its men's collection, recently launched a women's line after years of anticipation and preparation. The company's decision to expand into women's apparel was a strategic move to diversify its offerings and cater to the growing demand from female customers. ROME focused on creating unique products tailored specifically for women in terms of fabrications, fits, and cuts, ensuring that the new line stands out in the active wear market.
Challenges in Transition
Transitioning from a men's only brand to a brand offering women's apparel posed communication challenges as the company had established its reputation primarily in men's wear. Overcoming this hurdle required a strategic approach, emphasizing the uniqueness of the women's line and targeting the female customer base effectively. ROME prioritized creating a distinct identity for its women's collection, ensuring that it resonated with the preferences and needs of female shoppers.
Growth Strategy and Expansion
ROME’s expansion into women's apparel aligns with its long-term growth strategy to achieve a balanced revenue mix between men's and women's collections. The company envisions a 50/50 revenue mix between the two categories, leveraging its existing customer base and brand recognition to drive sales in the women's segment. With a focus on performance lifestyle and mental fitness, ROME aims to differentiate itself by offering products that cater to both physical and mental well-being.
Retail and Distribution Focus
While ROME experienced rapid growth in retail channels, particularly in brick-and-mortar stores, the company scaled back its retail expansion in light of the women's line launch. The introduction of women's apparel necessitated store retrofits and adjustments to align with the new collection, impacting the overall retail strategy. Despite a temporary slowdown, ROME remains committed to enhancing its retail footprint and providing a personalized in-store experience to complement its online presence.
Importance of Super Prime Real Estate Market in London
The super prime real estate market in London, characterized by properties priced at 10 million pounds and above, has been experiencing a slowdown with properties selling below their asking price. Despite the market correction, the show 'Buying London' featuring real estate agent Daniel Daggers focuses on high-end luxury properties in Mayfair and Notting Hill, showcasing luxurious mansions and mansions that belonged to celebrities such as Tom Hollander.
Exploring Solo Sailing and Maritime History
The podcast delves into solo sailing experiences and maritime history, focusing on the book 'Sailing Alone: A Surprising History of Isolation and Survival at Sea' by Richard King. Through personal anecdotes and historical accounts, the discussion highlights the evolution of solo sailing motivations, ranging from exploration and riches in the 1700s to personal challenges and artistic endeavors in modern times. Richard King shares insights on his solo Atlantic crossing, emphasizing the intense connection to nature and challenges faced at sea.
Featuring some of our favorite conversations of the week from our daily radio show "Bloomberg Businessweek." Hosted by Carol Massar and Tim Stenovec
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