The Retail Pilot

Sarah LaFleur, Founder and CEO of M.M.LaFleur, shares her journey in redefining women's workwear by focusing on function and ease. She discusses overcoming challenges during COVID and the importance of community. Jan Kniffen, a retail expert, provides insights into the sneaker market, including Nike's comeback and the rise of innovative brands like Hoka and On. Together, they explore entrepreneurial resilience, the evolving landscape of retail, and the future of fashion with technology integration.

In this episode of The Retail Pilot, host Ken Pilot interviews Dana Telsey, CEO and Chief Research Officer of Telsey Advisory Group. They explore key trends shaping the future of retail, including AI-driven personalization, shifting consumer behaviors, and the evolution of store formats. Dana shares insights on top-performing brands like Birkenstock, Warby Parker, and Abercrombie & Fitch, along with the challenges facing luxury retail and department stores. The discussion also covers tariffs, global supply chain shifts, and the increasing role of social media in retail strategy.Key Topics DiscussedDana Telsey’s Career Journey – Her experience in equity research, investment banking, and retail strategyRetail Trends for 2025 – Personalization, curation, and the growing role of AI in retailTop Companies to Watch – Birkenstock, Warby Parker, Walmart, Abercrombie & Fitch, and LululemonLuxury Retail & Department Stores – The Saks-Neiman Marcus merger and the shift toward direct-to-consumer strategiesThe Impact of AI in Retail – Enhancing personalization, content creation, and supply chain managementSocial Media & Retail – The influence of TikTok and social commerce on brand visibilityThe Evolution of Physical Retail – The rise of pop-up shops, smaller store formats, and experiential retailTariffs & Global Production – How supply chain shifts and economic uncertainty affect pricingNike & Sneaker Market Competition – Challenges from rising brands like Hoka, On Running, and SkechersRetail Technology & Customer Experience – AI-powered POS, RFID, and real-time analytics in retailHighlights & Key TakeawaysAI & Personalization – Retailers are investing in AI to refine customer experiences and optimize operationsSuccess of Top Brands – Birkenstock’s full-price strategy, Warby Parker’s store model, and Abercrombie’s resurgenceLuxury Retail Shifts – Direct-to-consumer is becoming the primary focus for major luxury brandsRetail Media Networks – Gaining traction but still proving their impact on sales and customer engagementPower of Social Media – TikTok has become a critical platform for understanding emerging consumer trendsTariffs & Rising Costs – Retailers are diversifying supply chains to reduce dependency on ChinaIn-Store Experience Matters – Brands like Skims and RH are leveraging immersive retail environmentsNike’s Competitive Pressure – Facing challenges from new brands, Nike must redefine its market strategyRetail’s Need for Agility – The most successful brands are those that adapt quickly to changing consumer demandsHosted by Ausha. See ausha.co/privacy-policy for more information.

Ken Pilot interviews Emily Current and Meritt Elliott, Co-Founders of fashion brand, The Great, on this Flight of The Retail Pilot Podcast. Plus, he has a short "Pre-Flight" conversation with Jan Kniffen, former retail executive and current CNBC retail expert, to discuss what 2025 looks like for the retail industry.Pre-Flight with Jan KniffenJan Kniffen shares his outlook for retail in 2025:Retailers are optimistic after a solid 2024 holiday seasonConsumer spending expected to remain healthy, especially among higher-income shoppersLower-income consumers adapting to higher costsTariffs not a major concern for most retailersPositive outlook for discretionary retailers like Ralph Lauren, Nike, LululemonInterview with Emily Current and Meritt ElliottKen speaks with the co-founders of The Great about their journey and brand:Brand OriginsMet as UCLA students, bonded over vintage fashionStarted as celebrity stylists before launching denim brand Current/ElliottFounded The Great in 2015, focusing on casual, nostalgic AmericanaThe Great BrandOffers casual, vintage-inspired clothing across multiple categoriesAbout $50 million in annual revenueDistribution split between e-commerce, retail stores, and wholesaleBusiness ApproachSelf-funded, focused on organic growthValue wholesale partnerships alongside direct-to-consumerEmphasis on in-person experiences and community buildingCollaborationsPartnerships with Eddie Bauer, Birkenstock, Pottery BarnInterested in future collaboration with ConverseMarketing StrategyRely heavily on word-of-mouth and organic growthUse collaborations and retail stores as marketing toolsCelebrity fans include Reese Witherspoon and Rachel BilsonFuture PlansExpanding reach to new geographic marketsConsidering growth in men's, children's, and home categoriesWorking as Co-CEOsEmphasize complementary skills and shared visionStress importance of understanding all aspects of the businessHosted by Ausha. See ausha.co/privacy-policy for more information.

In this episode of The Retail Pilot, host Ken Pilot sits down with Alex and Mike Faherty, co-founders of Faherty Brand, to discuss their business journey, recent successes, and future plans. Key Topics Discussed: Faherty's performance during Black Friday and Cyber Monday 2024The brand's growth trajectory and end-of-year projectionsExpansion of retail stores and focus on in-store experiencesProduct development and bestselling itemsMarketing strategies and collaborationsTech innovations and simplification effortsTeam building and company culturePreparing for potential tariff changes in 2025Exciting plans and collaborations for 2025 Highlights: Faherty now operates 72 stores, with plans to open more in 2025The brand is doing "hundreds of millions" in revenueFocus on hero products like the Legend Shirt and Stretch Terry PantsEmphasis on creating a boutique feel while making shopping easier for customersUpcoming collaborations with a surf club in Ghana and big wave surfers in PortugalHosted by Ausha. See ausha.co/privacy-policy for more information.

In this episode of The Retail Pilot, Ken Pilot welcomes back Stephen Yalof, President and CEO of Tanger, Inc. With over 25 years of experience in the commercial real estate industry, Stephen shares insights into Tanger's growth strategies, the evolution of retail spaces, and how the company is adapting to changing consumer behaviors. From expanding into full-price lifestyle centers to enhancing customer experiences through digital innovation and loyalty programs, Stephen provides a comprehensive look at Tanger's journey and future direction. Key Topics Discussed 1. Tanger’s Recent Successes Performance Highlights: Tanger achieved a 4.3% increase in net operating income (NOI) and a 97.4% occupancy rate. The company executed 543 leases covering 2.6 million square feet over the past year. Expansion Efforts: Recent acquisitions include The Promenade at Chenal in Little Rock, Arkansas, which features the only Apple Store in the state. 2. Growth Strategy Diversification: While maintaining its core outlet business, Tanger is expanding into full-price open-air lifestyle centers that include specialty stores, grocery anchors, and other amenities. Acquisition Focus: Stephen emphasized the importance of acquiring high-quality properties in strategic markets to leverage existing regional management teams. 3. Enhancing Customer Experience Tanger Club Loyalty Program: A tiered membership program offering discounts and perks for shoppers. Members can choose between free or paid memberships ($20 annually) for additional benefits. Digital Integration: Introduction of QR codes for real-time offers and digital savings passports, replacing outdated coupon books. Amenities and Entertainment: Investments in food offerings, gathering spaces, and entertainment options like pickleball courts to create a more engaging shopping experience. 4. Industry Trends Blending Physical and Digital Retail: Tanger is exploring e-commerce integration as part of its long-term strategy while using digital tools to enhance in-store experiences. Health & Beauty Brands: Increased presence of brands like Sephora and Ulta in outlet environments, offering regular-priced products alongside experiential services. 5. Leadership and Team Building Talent Development: Stephen emphasizes hiring complementary skill sets to address organizational blind spots and promoting from within to keep employees motivated. Communication Practices: Regular town halls, employee resource groups (ERGs), and an intranet ensure transparency and engagement across the organization. 6. Reflections on Leadership Lessons Learned: Stephen highlights the importance of "failing fast" to pivot quickly when strategies don’t work. He also stresses the value of building a strong team aligned with company goals. Notable Quotes "Fail fast—if something doesn’t work, pivot quickly and move on." – Stephen Yalof "We’re lifestyle-izing our portfolio by adding food, beverage, amenities, and entertainment to enhance the customer experience." – Stephen Yalof "Our loyalty program is about understanding our customers better and providing them with personalized value." – Stephen YalofHosted by Ausha. See ausha.co/privacy-policy for more information.

In this fascinating discussion, Jennifer Hyman, Co-founder and CEO of Rent the Runway, dives into the company's revolutionary impact on fashion. She shares how she pitched the idea to Diane von Furstenberg within 48 hours of conceiving it. Hyman reflects on Rent the Runway's resilience during COVID-19 and the shift towards sustainability and community engagement targeted at young consumers. She also reveals insights about their innovative business model and the emotional experience of taking the company public, highlighting female leadership in the industry.

In this episode of The Retail Pilot, host Ken Pilot sits down first in a Pre-Flight conversation with Simeon Siegel, Senior Retail Analyst for BMO Capital Markets, to discuss the state of the Retail market both post-election and leading into the holiday season. For the main Flight, Ken speaks with Rachelle Hruska MacPherson, founder of the fashion brand Lingua Franca. Rachelle shares the unexpected journey that led her to create a company known for its hand-embroidered cashmere sweaters and socially conscious messaging.Origins of Lingua FrancaRachelle started the company unexpectedly in 2016 while dealing with stress from her previous businessThe idea came from embroidering "booyah" on an old sweater as a therapeutic exerciseEarly success came from a viral "I Miss Barack" sweater after the 2016 electionBusiness Growth and ModelLingua Franca offers custom embroidery on cashmere and cotton itemsThe company has expanded into ready-to-wear clothing and collaborationsCurrent revenue is under $30 million, with 60-70% from direct-to-consumer salesProduct and PricingCashmere sweaters with embroidery retail for around $380Cotton items start at $150, opening up a new market segmentCustom embroidery is available in stores and through an online customizerMarketing and CollaborationsGrowth has been largely organic, with minimal traditional marketingCollaborations with celebrities, artists, and brands have been key to expansionUpcoming collaborations include Wicked and Gilmore GirlsChallenges and Future PlansRachelle discusses the difficulties of scaling while maintaining brand authenticityShe emphasizes the importance of product quality and customer serviceThe company is exploring new marketing strategies, including digital advertisingPersonal InsightsRachelle shares her favorite travel destinations and TV showsShe discusses the importance of mentorship and community in the fashion industryThe episode provides an in-depth look at how Lingua Franca has grown from a personal project into a socially conscious fashion brand, navigating the challenges of scaling while maintaining its core values and unique positioning in the market.Hosted by Ausha. See ausha.co/privacy-policy for more information.

In this episode of The Retail Pilot, host Ken Pilot welcomes Jan Rogers Kniffen, CEO of J Rogers Kniffen Worldwide and retail industry expert, to discuss the current state and future of retail. Key Topics Discussed: Post-Election Retail BounceJan predicts a post-election retail bounce, as seen in previous presidential election yearsDiscretionary retail is currently running at zero inflation, making it attractive to consumersFourth Quarter OutlookDespite potential headwinds, Jan expects a strong fourth quarterForecasts 3.5-4% sales growth, similar to last yearBelieves discretionary goods will perform well due to their perceived value compared to inflating servicesWalmart vs. TargetWalmart is outperforming Target significantlyWalmart is attracting higher-income customers, traditionally Target's demographicWalmart's focus on in-store experience and competitive pricing is paying offOff-Price Retail SectorTJ Maxx ranked as the fifth-best retailer in America by JanConcerns about over-saturation in the off-price sectorPotential challenges for off-price retailers as the market maturesDepartment Store FuturePredicts most department stores will go private by the end of 2026Cites lower interest rates and increased real estate values as factors facilitating buyoutsMentions Nordstrom, Macy's, and Kohl's as potential candidates for privatizationTariffs and ManufacturingDiscussion on the impact of potential tariffs, especially on goods from ChinaMany retailers have already reduced their exposure to Chinese manufacturingPredicts that moderate tariff increases might be absorbed by Chinese manufacturers rather than passed on to consumersNotable Quotes:"May the bounce be with you." - Jan Rogers Kniffen on the post-election retail bounce"I think it's come down to who can do this stuff as opposed to where you happen to be." - Jan Rogers Kniffen on retail performanceClosing Thoughts:Jan expresses optimism for the retail sector going into the fourth quarter and 2025, despite potential challenges. He emphasizes the importance of execution and adaptation in the evolving retail landscape.Hosted by Ausha. See ausha.co/privacy-policy for more information.

Nick Green, Co-founder and CEO of Thrive Market, discusses transforming the health food industry through a unique membership platform. He reveals the strategy behind Thrive's diverse organic product selection and their commitment to sustainability. Green shares insights on navigating leadership challenges during the remote work era and how AI personalization enhances customer experience. He also highlights the innovative use of influencer marketing for funding while maintaining strong community values. Personal anecdotes wrap up the conversation, making it both informative and engaging.

Ken Pilot interviews Oliver Chen for this flight of The Retail Pilot podcast. Oliver Chen is a Managing Director and senior equity research analyst covering retail and luxury goods at TD Cowen.  His deep understanding of the consumer and his ability to forecast the latest trends and technological changes that will impact the retail space have set him apart from peers.Prior to joining TD Cowen in 2014, he spent seven years at Citigroup, worked in the investment research division at UBS, in the global mergers and acquisitions/strategic planning group at PepsiCo International, and in JPMorgan’s consumer products/retail mergers and acquisitions group.Oliver holds a bachelor of science degree from Georgetown University, an MBA from the Wharton School at the University of Pennsylvania, and is a CFA charterholder.His passion for the sector began at the age of 12 when he began working with his parents at their retail business in Natchitoches, Louisiana.Summary:In this conversation, Oliver Chen discusses the current state of luxury retail and the beauty sector, highlighting the challenges and opportunities faced by brands. He emphasizes the importance of pricing strategies, the impact of digital transformation, and the need for brands to connect with younger consumers. The discussion also covers emerging trends in fragrance, the potential of the men's beauty market, and the role of AI in enhancing the retail experience.Key Takeaways:Luxury retail is facing an inflection point with declining sales.China's economic factors are influencing luxury spending.LVMH's strong brand portfolio positions it well in the market.Hermes thrives due to its timeless luxury appeal.Luxury brands are increasingly focusing on direct-to-consumer sales.Ralph Lauren's success is attributed to its cultural relevance and value perception.Fragrance is a growing category with opportunities for premiumization.The men's beauty market is still developing but shows potential.TikTok is becoming a significant platform for beauty brands.AI is set to transform the retail experience through personalized search.Hosted by Ausha. See ausha.co/privacy-policy for more information.