Welcome to the Arena from ICR – Conversations with Today's Innovators & Business Leaders Molly Langenstein, President and CEO at Chico's FAS – Know Thy Customer: Building brands and revitalizing sales in the retail fashion industry
Summary:
To really serve your customer, you have to understand them. And that's just one of the crucial ways that today's guest has led her company into remarkable growth. On this episode, we welcome Molly Langenstein, CEO, President and Board Member of Chico's FAS. She joined the company in August of 2019 and became CEO and President less than a year later, in June 2020.
Molly is a 30-year retail industry veteran with a proven track record of building multiple successful brands, and revitalizing sales and profitability in the retail fashion industry. Prior to Chico's, Molly held multiple roles at Macy's, including General Business Manager for Ready to Wear, Private Brands Officer of Macy's in Bloomingdale's, and Executive Vice President of private brands for Men's and Children's wear.
I sat down with Molly to talk about the unique strategy at Chico's and her amazing career in the retail industry, that in some ways, started when she was just a kid.
Highlights:
- Molly tells about what she learned growing up in her mother's boutique (2:58)
- What has changed and what's stayed the same with consumers (4:27)
- Molly explains the main brands at Chico's (5:34)
- What attracted Molly to this opportunity at Chico's (8:36)
- The strategic pillars of their plan (9:56)
- The connection that is made with a customer through these brands (14:34)
- How an increasingly younger customer base and the multi-channel approach is significant to the company's growth (16:17)
- The company's digital tools for their customers, and their loyalty program (18:44)
- Chico's balance sheet (21:46)
- How Chico's is managing the economic challenges of the moment (22:53)
- Molly talks about the company's response to Hurricane Ian in Florida (24:17)
- Molly's signature piece of management advice (25:58)
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If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, marion@lowerstreet.co.