The Voice of Retail The Great DTC v. Wholesale Debate with BMO's Simeon Siegel: Best of the Remarkable Retail podcast
Welcome to The Voice of Retail. I'm your host Michael LeBlanc. This podcast is brought to you in conjunction with Retail Council of Canada.
On this special episode I am thrilled to be sharing an excerpt from the most popular Remarkable Retail podcast so far of our fourth season, and second only to our Scott Galloway interview episode, where my podcast partner & best selling author Steve Denis and I welcome Simeon Siegel, the retail rockstar analyst from BMO for a provocative discussion on whether going direct-to-consumer is all it's cracked up to be. In a Masterclass on retail growth strategies, we first clean up some of the often confusing nomenclature, then discuss whether wholesale really is a dirty word and how everything old is often new again.
Mostly we go beyond the clickbait headlines to dig into Simeon's report which countered the narrative that going direct automatically leads to an increase in revenues and profits. And we get his hot takes on Nike's strategy and how we should think about the right mix of wholesale and direct going forward. As an added bonus, Steve reminds us that DTC is hardly new and creates yet another term: "Analog Native Vertical Brands" or "ANVB's." Let’s listen in now as Steve kicks us off.
To get a copy of Simeon's report email him at simeon.siegel@bmo.com
Steve's recent Forbes articles related to our news segment:
https://www.forbes.com/sites/stevendennis/2022/03/04/amazons-surprise-store-closings-are-much-ado-about-nothing-heres-why/?sh=147f7e635acf
https://www.forbes.com/sites/stevendennis/2022/02/07/what-we-get-so-very-wrong-about-amazons-retail-profitability/?sh=5523cd2721aa
https://www.forbes.com/sites/stevendennis/2022/02/23/the-stores-strike-back-again-again/?sh=284ab5657a92
About Simeon Siegel, CFA
Simeon Siegel is a Managing Director and Senior Analyst at BMO Capital Markets specializing in Retail and E-commerce. Simeon started his career at Goldman Sachs and his since worked on the #1 ranked Retail franchise at JPMorgan and Nomura | Instinet.
Simeon has been named a Rising Star of Wall Street by Institutional Investor, a Rising Star of Equity Research by Business Insider, a Top Stock Picker by StarMine and a Top Earnings Estimator by Thomson Reuters and Refinitiv. He has worked on the Institutional Investor #1 ranked All America Research Team for Specialty Retail and the Wall Street Journal's "Best on the Street" list of top analysts. He is in constant dialogue with investors and C-Level Management across the industry, analyzing and advising on the ever-evolving retail landscape. He is a regular guest on CNBC and frequently quoted across the media including The Wall Street Journal, The New York Times, Women's Wear Daily, The Business of Fashion, Barron's and Bloomberg, among others.
Simeon received a BA in Economics and Philosophy from Columbia University and is a CFA charterholder. He serves on the Boards of Read Ahead and the Hebrew Free Loan Society and is Vice Chair of the UJA Luxury Division.
About Us
Steve Dennis is an advisor, keynote speaker and author on strategic growth and business innovation. You can learn more about Steve on his website. The expanded and revised edition of his bestselling book Remarkable Retail: How To Win & Keep Customers in the Age of Disruption is now available at Amazon or just about anywhere else books are sold. Steve regularly shares his insights in his role as a Forbes senior contributor and on Twitter and LinkedIn. You can also check out his speaker "sizzle" reel here.
Michael LeBlanc is the Founder & President of M.E. LeBlanc & Company Inc and a Senior Advisor to Retail Council of Canada as part of his advisory and consulting practice. He brings 25+ years of brand/retail/marketing & eCommerce leadership experience, and has been on the front lines of retail industry change for his entire career. Michael is the producer and host of a network of leading podcasts including Canada’s top retail industry podcast, The Voice of Retail, plus Global E-Commerce Tech Talks , The Food Professor with Dr. Sylvain Charlebois and now in its second season, Conversations with CommerceNext! You can learn more about Michael here or on LinkedIn.
Be sure and check out Michael's latest venture for fun and influencer riches - Last Request Barbecue, his YouTube BBQ cooking channel!
Michael LeBlanc is the president and founder of M.E. LeBlanc & Company Inc, a senior retail advisor, keynote speaker and now, media entrepreneur. He has been on the front lines of retail industry change for his entire career.
Michael has delivered keynotes, hosted fire-side discussions and participated worldwide in thought leadership panels, most recently on the main stage in Toronto at Retail Council of Canada’s Retail Marketing conference with leaders from Walmart & Google. He brings 25+ years of brand/retail/marketing & eCommerce leadership experience with Levi's, Black & Decker, Hudson's Bay, CanWest Media, Pandora Jewellery, The Shopping Channel and Retail Council of Canada to his advisory, speaking and media practice.
Michael produces and hosts a network of leading retail trade podcasts, including the award-winning No.1 independent retail industry podcast in America, Remarkable Retail with his partner, Dallas-based best-selling author Steve Dennis; Canada's top retail industry podcast The Voice of Retail and Canada's top food industry and one of the top Canadian-produced management independent podcasts in the country, The Food Professor with Dr. Sylvain Charlebois from Dalhousie University in Halifax.
Rethink Retail has recognized Michael as one of the top global retail experts for the fifth year in a row, the National Retail Federation has designated Michael as on their Top Retail Voices for 2025, Thinkers 360 has named him on of the Top 50 global thought leaders in retail, RTIH has named him a top 100 global though leader in retail technology and Coresight Research has named Michael a Retail AI Influencer. If you are a BBQ fan, you can tune into Michael’s cooking show, Last Request BBQ, on YouTube, Instagram, X and yes, TikTok.
Michael is available for keynote presentations helping retailers, brands and retail industry insiders explaining the current state and future of the retail industry in North America and around the world.