The Retail Pilot

On this flight of The Retail Pilot, Ken Pilot interviews Andrew Blackmon, the co-founder and CEO of The Black Tux. He manages the company's day-to-day operations and leadership team. He is passionate about diligently creating a great team/culture to execute on the company's long term vision of revolutionizing the men's formal industry. He previously worked in technology and marketing. He earned an MBA from HEC Paris and a degree in English from Pepperdine University.Key takeaways from this podcast interview include:1.    Identifying a Gap in the Market: Andrew and his co-founder Patrick identified a gap in the formal wear rental market through personal experience attending weddings and proms. They noticed that the available options often resulted in ill-fitting, low-quality garments, leading them to envision a better customer experience.2.    Naivety as an Advantage: Despite lacking expertise in fashion or retail, Andrew and Patrick's youthful naivety served as an advantage. Their lack of preconceived notions allowed them to pursue their vision with energy and enthusiasm, unencumbered by industry norms or limitations.3.    Investment and Infrastructure: The Black Tux faced challenges in securing initial investment, but eventually attracted funding from venture capitalists who believed in their concept. Building the necessary infrastructure, including warehouses equipped with dry cleaning and tailoring services, was capital-intensive but crucial for the business's success.4.    Customer-Centric Approach: The Black Tux prioritizes the customer experience, aiming to provide high-quality, stylish rentals at affordable prices. Their focus on customer satisfaction has fueled word-of-mouth growth and contributed to their success, with over 2 million customers served to date.5.    Diversification and Growth Opportunities: The company has expanded beyond rentals to offer products for purchase, responding to customer demand. Additionally, they are exploring opportunities for further expansion, including increasing their product assortment and opening more store locations, both independently and in partnership with retailers like Nordstrom. This focus on diversification and expansion reflects theircommitment to continued growth and innovation in the formal wear market.6.    Identifying a Niche Market: The Black Tux identified a gap in the men's wedding band space, similar to the one they observed when they started in the tuxedo rental business. They noticed that men lacked a brand specifically targeting them for wedding bands, and they saw an opportunity to provide a branded experience like they did with Black Tux.7.    Strategic Acquisition: Instead of just entering the jewelry market, The Black Tux strategically acquired a jewelry company with a deep history in the manufacturing side of the business. This allowed them to tap into existing expertise and offer high-quality men's wedding bands that are locally manufactured.8.    Adapting to Market Trends: The company has expanded its product offerings beyond wedding bands to include other jewelry items like chains and bracelets. This expansion reflects the growing trend of men's interest in jewelry and allows The Black Tux to cater to a broader range of customer preferences.9.    Direct Customer Engagement: The CEO, Andrew, personally engaged with customers through a unique SMS campaign, where he shared his own phone number and responded to every message. This direct engagement helped build a strong connection between the brand and its customers, fostering trust and loyalty.10. Challenges and Future Plans: Despite facing challenges like a decline in weddings due to fewer relationships formed during COVID, The Black Tux is focused on overcom...

Ken Pilot interviews Peiman Raf, Co-Founder and CEO of Madhappy, for this 50th Flight of The Retail Pilot - Leaders & Legends podcast. This interview was conducted live at The University of Michigan's Ross School of Business at the Michigan Fashion and Multimedia Summit.Hosted by Ausha. See ausha.co/privacy-policy for more information.

Michelle Wlazlo joined JCPenney in March 2019 as executive vice president, chief merchandising officer, reporting to Marc Rosen, chief executive officer. Wlazlo is responsible for leading the Company’s global merchandise strategy and operations including Merchandising, Planning and Allocation, Pricing, Product Design, and Development and Sourcing.Wlazlo brings more than 30 years of merchandising and stores experience from a variety of retailers. In her three years at JCPenney, she has led the charge in clarifying and defining the positioning of the Company’s private brands to give customers more choice. Wlazlo led the launch of Thereabouts, JCPenney’s most inclusive kid’s brand yet with adaptive apparel for children of all abilities; established JCPenney Beauty’s partnership with hero brand Thirteen Lune, providing a hyper-inclusive beauty experience; and led the introduction of Hope & Wonder, JCPenney’s new purpose-driven private brand, which celebrates festive holidays as well as important cultural moments and gives back to nonprofit partners, to life. Most recently, Wlazlo led the launch of JCPenney’s denim lifestyle brand for men, Mutual Weave.Prior to joining JCPenney, she served as senior vice president, merchandising over apparel and accessories, baby gear and essentials at Target Corporation. Before Target, Wlazlo spent 19 years at GAP, Inc., in a variety of roles for Gap, Gap Outlet and Old Navy. She began her career at Saks Fifth Avenue, Inc., before assuming roles as store manager and buyer at Bebe Stores, Inc.Wlazlo attended Lowthian College in Minneapolis and the Executive Education Program at Columbia University’s Graduate School of Business. She currently serves on the board of directors for the National Association for the Education of Young Children.Key takeaways from this podcast interview include:1.    Personal Journey to Retail: Michelle Wlazlo's journey into retail stemmed from a fascination and curiosity with shopping. Her experience working in her stepmom's store during high school ignited her passion for the industry, emphasizing the power of fashion and accessories to impact people's lives through simple transactions.2.    Diverse Career at Gap Inc.: Wlazlo spent 19 years at Gap Inc., where she had the opportunity to work in various areas within the company. She specialized in turning around initiatives, launching new businesses, and bringing fresh perspectives to different divisions, demonstrating adaptability and problem-solving skills.3.    Product Focus at JCPenney: Upon joining JCPenney, Wlazlo prioritized fixing the product assortment and driving clarity between brands. Recognizing the importance of good product, she emphasized the need to deliver quality and value to customers, focusing on improving the overall product experience.4.    Partnership with CEO Mark Rosen: Wlazlo highlighted her strong working relationship with CEO Mark Rosen, describing their partnership as complementary and based on trust. They share a passion for product and have a similar taste level, learning from each other and maintaining open communication to drive the company forward.5.    Inclusion and Private Label Strategy: JCPenney's focus on...

Pete Nordstrom, President and Chief Brand Officer of Nordstrom, shares his journey from sweeping floors at age 12 to leading a retail giant. He emphasizes the importance of customer experience and innovative brand collaborations. The conversation touches on Nordstrom’s commitment to pay equity, community giving, and evolving customer expectations in the digital age. Pete also explores how the company adapts retail strategies, leveraging partnerships with emerging brands and integrating online services to enhance shopping experiences.

Ken Pilot interviews Denise Incandela for this flight of The Retail Pilot. Denise Incandela is Executive Vice President of Fashion and Private Brands for Walmart U.S. In this role, Denise is propelling Walmart’s reputation as a fashion destination, helping democratize access to stylish, quality apparel for Walmart’s 140 million weekly shoppers.Before joining Walmart, Denise rose through the fashion industry ranks with roles as CEO of Aerosoles, President of Global Digital and Customer Experience for the Ralph Lauren Corporation and before that, EVP and CMO of Saks Fifth Avenue. Denise started her post MBA career at McKinsey & Company, where she was a leader of its retail practice.Denise is a visionary retail executive and experienced public company board director who has transformed luxury brands and mass retailers for over 20 years, and she is renowned across the industry for her innovation and vision, team leadership and ability to drive results.Key takeaways from this podcast interview include:1.    Transformational Leadership: Denise Incandela's career trajectory reflects a commitment to transformational leadership. From her beginnings in investment banking and management consulting to her roles at Saks, Ralph Lauren, and Walmart, she has consistently sought opportunities to drive change and innovation within the retail industry.2.    Early Adoption of E-commerce: Denise's entry into the retail industry was marked by the nascent stage of e-commerce. Her pivotal role in launching Saks' e-commerce business in 1999 highlights her foresight and willingness to embrace new technologies and trends, even when they were not widely accepted.3.    Shift from Luxury to Mass Market: Denise's transition from luxury brands like Saks and Ralph Lauren to Walmart represents a significant shift in focus and target demographics. Despite the apparent disparity between luxury and mass-market retail, Denise saw an opportunity to leverage her expertise and drive transformation within Walmart's fashion segment.4.    Building Strong Private Brands: Walmart's focus on developing private brands with distinct identities and market appeal is evident. Denise highlights the importance of building robust design teams and investing in brand development to create cohesive, desirable offerings exclusive to Walmart.5.    Innovative Online Experience: Walmart's efforts to enhance the online shopping experience, particularly in the fashion segment, showcase a commitment to innovation. Features such as virtual try-on and social commerce initiatives demonstrate Walmart's willingness to embrace emerging technologies and adapt to evolving consumer preferences.6.    Transformational Focus: Walmart is heavily focused on transformation, particularly in the fashion sector. They recognize the need to evolve beyond their dominant apparel business and explore new opportunities to grow.7.    Marketing Evolution: The company acknowledges the changing landscape of consumer behavior and the importance of adapting marketing strategies accordingly. This includes leveraging technology and online platforms to reach consumers where they are.8.    Marketplace Strategy: Walmart places significant emphasis on its marketplace strategy, which allows third-party sellers to offer products on its platform. This approach enables Walmart to expand its assortment without the need for additional inventory, contributing to growth and customer satisfaction.9.    Store Reinvention: Walmart is actively reinventing its physical stores to enhance the fashion shopping experience. This involves overhauling assortments, improving visual displays, incorporating digital elements, and creating brand-focused environments to change c...

Ken interviews Amy Williams, the CEO at Citizens of Humanity Group, for this Flight of The Retail Pilot. Amy joined Citizens of Humanity as the company’s President in 2009 and ultimately assumed the Chief Executive Officer position in 2015, overseeing the business for the company’s family of brands including Citizens of Humanity and AGOLDE. Williams previous experience includes Executive Vice President at Lucky Brand Jeans and Senior Vice President of Product Development and Design for Gap Inc. Williams serves on the board at Girls Inc of Greater Los Angeles and empowerHER. She is an advisor to Every Mother Counts and Bay Area Women’s Sports Initiative. Key Takeaways Include:1.    Bridging Business and Design: Amy's career trajectory highlights the importance of bridging the gap between business strategy and creative design in the retail industry. She emphasized the significance of understanding consumer preferences, maintaining commercial viability, and fostering collaboration between merchandising and design teams. This balance between creativity and business acumen is crucial for successful product development and brand growth.2.    Entrepreneurial Leadership: Amy's transition from corporate roles to entrepreneurial ventures demonstrates her adaptability and leadership versatility. She thrived in both structured corporate environments, such as at Gap Inc., and in more dynamic, entrepreneurial settings, such as at Lucky Brand and Citizens of Humanity. Her ability to navigate different organizational cultures and drive results underscores the importance of entrepreneurial spirit and strategic vision in leadership roles.3.    Strategic Distribution Expansion: At Citizens of Humanity, Amy was tasked with developing a distribution strategy to expand beyond traditional wholesale channels. This involved exploring opportunities in specialty retail and e-commerce while working closely with company founders and private equity stakeholders. Amy's focus on diversifying distribution channels and adapting to evolving market trends reflects the agility and foresight required to drive brand expansion and maximize growth potential in the competitive retail landscape.4.    Sustainable Growth and Brand Integrity: Amy emphasizes the importance of sustainable growth and brand integrity. Citizens of Humanity and A Golde focus on quality products, investing in design, and maintaining high standards in distribution. They prioritize long-term brand development over short-term financial gains, taking inspiration from European brands that prioritize generational development.5.    Strategic Expansion and Retail Experience: The company aims to expand its retail presence thoughtfully, focusing on creating experiential and lifestyle-oriented stores rather than rapid expansion for the sake of growth. They seek to deepen relationships with existing retail partners, improve retail presentations, and explore opportunities for retail expansion in select locations.6.    Marketing and Brand Building: Instead of traditional marketing methods, Citizens of Humanity and A Goldie rely on organic brand building and word-of-mouth promotion. They prioritize product quality and strategic partnerships with tastemakers, avoiding paid advertising and focusing on creating a desirable brand image through events, partnerships, and thoughtful product placement.7.    Focus on Technology and Operations: While the company acknowledges the importance of technology in advancing their business, they admit to being more focused on other aspects due to their smaller team size. However, they recognize the need for technological advancements, particularly in areas such as inventory management and data analytics. Improving inventory accuracy, tracking product performance, and opti...

Ken interviews Simeon Siegel, Managing Director, Senior Analyst of Retail and eCommerce for BMO Capital Markets.Key takeaways from the interview include:1.    Role as an Equity Research Analyst: Simeon's job involves assessing publicly traded companies within the retail sector. He emphasizes the importance of being objective in his analysis, even if it means delivering hard truths that may not always be well-received by company stakeholders.2.    Divergence in Retail Performance: Despite macroeconomic fears and media narratives about the decline of retail, Simeon highlights that many retail companies are performing well. He notes significant revenue growth and improved gross margins in the retail sector, indicating positive consumer behavior.3.    Impact of Interest Rates: Simeon discusses the potential effects of Federal Reserve decisions on retail performance. While lower interest rates traditionally stimulate spending, he suggests that the impact may not be as significant for retailers, particularly those with strong cash positions and minimal debt.4.    Segment-Specific Performance: Retail success varies across different sectors and brands. Simeon emphasizes that success in retail requires a compelling story, understanding of the target customer, and execution. He notes that while certain sectors like luxury and teen retail are thriving, success isn't guaranteed solely by being in a favorable sector.5.    DTC (Direct-to-Consumer) Realities: There's a growing realization that DTC isn't always the golden solution it's made out to be. Removing the middle person doesn't necessarily lead to cost savings for the consumer; instead, the costs are absorbed differently. Brands pivoting to DTC may not see the expected increase in revenue, gross margin, or profit.6.    The Power of Off-Price Retailing: TJX (T.J. Maxx, Marshalls, HomeGoods) is recognized as a disruptor in the retail sector, despite its minimal e-commerce presence. Their model of selling expensive items at discounted prices has reshaped consumer perceptions and buying habits. Other off-price retailers may also take share from consumers but in different ways.7.    Reevaluating Growth Strategies: Companies like Under Armour, despite revenue size, may face challenges due to low gross margins. Reevaluating strategies, possibly shifting from over-distribution to focusing on quality over quantity sales, may be necessary for sustained profitability.8.    Tech Integration in Retail: While technology offers numerous solutions for retail, the challenge lies in identifying the most effective ones amidst the plethora of options. Companies should focus on tech solutions that reduce shrink, automate supply chains, and improve customer targeting, without letting technology overtake the core business.Hosted by Ausha. See ausha.co/privacy-policy for more information.

Ken interviews Nyakio Grieco, Co-founder of Thirteen Lune and Founder of Relevant: Your Skin Seen on this flight of The Retail Pilot - Leaders & Legends.Nyakio (pronounced Neh-Kay-Oh) Grieco is a beauty entrepreneur and advocate for clean, inclusive beauty that suits all skin types, tones, and needs. As a veteran beauty founder and trusted industry voice, Nyakio has launched successful businesses: her award-winning brand nyakioTM, based on her family’s Kenyan roots and beauty secrets that launched in 2002, and inclusive beauty e-commerce destination, Thirteen Lune, launched with cofounder Patrick Herning in 2020. Thirteen Lune launched as the first of its kind, e-commerce destination designed to inspire the discovery of beauty brands created by BIPOC founders that resonate with people of all colors. Thirteen Lune has since partnered with retailer JC Penney for inclusive beauty shop-in-shop locations in over 600 stores nationwide.Continuing her commitment to inclusive beauty Nyakio created Relevant: Your Skin Seen, a clean, science-led skincare brand that works for all skin tones and types. Working with top labs to ensure a diverse mix of chemists, Nyakio formulated each product with superfruits and actives in efficacious percentages to create products that truly perform. Most recently, the brand expanded into the cosmetics category with six color and complexion products. All products in the range are formulated with skincare benefits and serve and celebrate every skin tone, while hyper prioritizing consumers who have been underserved. Most recently, Nyakio Grieco has been honored with the CEW 2023 Female Founder Award, the Beauty Matter 2023 Future50 Award and included on the Inc. Magazine 2023 Female Founders 200 List. Key takeaways from the interview include:1.    Cultural Heritage and Beauty: Nyakio Grieco's journey into the beauty space was deeply influenced by her Kenyan heritage, particularly her grandmother's beauty secrets rooted in natural ingredients like coffee beans and sugar cane. This connection to her family's traditions and the use of earth-derived elements shaped her early interest in skincare.2.    Transition from Entertainment to Beauty: Despite initially pursuing a career in sports and entertainment, Grieco found herself drawn to the beauty industry through her work with actresses and exposure to beauty products. She noticed a gap in the market for products celebrating Africa's rich resources and heritage, leading her to pivot her career towards beauty entrepreneurship.3.    Challenges of Entrepreneurship: Grieco faced significant challenges as a black female founder, especially in accessing capital and navigating the beauty industry's landscape. Despite setbacks and failures, she persevered, leveraging mentorship, resourcefulness, and industry connections to keep her brand afloat and eventually succeed.4.    Creation of ThirteenLune: Following the acquisition of her brand by Unilever, Grieco co-founded Thirteen Lune with Patrick Herning, aiming to create an inclusive beauty retail platform highlighting products by black and brown founders. The platform aims to debunk stereotypes and provide visibility for diverse beauty brands, challenging the notion that these products are only for specific demographics.5.    Expansion and Future Vision: Despite the rapid growth of Thirteen Lune through partnerships with JCPenney and other retailers, Grieco remains focused on expanding the platform's direct-to-consumer presence and nurturing its brand identity. She sees opportunities for standalone stores, global expansion, and further development of their private label brand, Relevant. The goal is to continue championing diversity in the beauty industry while nurturing and growing the brands within the Thirteen Lune...

In a fascinating conversation, Tommy Hilfiger, Principal Designer of his globally recognized brand, reflects on his journey from a retail store in New York to fashion fame. He emphasizes the importance of making fashion accessible and reviving classic designs to resonate with today’s consumers. Hilfiger shares insights on innovative strategies, including embracing technology and influencer partnerships for brand evolution. His philanthropy and commitment to social initiatives make his story even more inspiring, shedding light on his vision for a better future.

Ken interviews Nick Graham, CEO of SPACEONE Industries and Founder and Chief Underpants Officer of Joe Boxer. Nick Graham changed the face of fashion when he turned his underwear company into one of America¹s most popular lifestyle brands. Graham coined the phrase "The Brand is the Amusement Park, the Product is the Souvenir” and uses this philosophy in everything he does.Graham was the first clothing designer on the internet in 1992, did the first live-streaming fashion show with Microsoft from an airplane hangar in Iceland and in 1998 installed the world’s largest e-mail in New York’s Times Square. He holds the record for the highest point a pair of underwear has been alone, (120,000 feet by single thrust rocket), and the unofficial record for the Worlds Fastest Fashion Show, (1.2 seconds by Human Cannonball).He staged the first transatlantic runway show 30,000 feet above Greenland with his friend Richard Branson, and is currently collaborating with Bill Nye the Science Guy.Currently Graham is the CEO of SPACEONE Industries that designs and produces space inspired consumer products for Men, Women and Children and is distributed through better department stores in the United States. The company also produces products for private space companies including Blue Origin, and Axiom to name a few. Graham has collaborated with many numerous space initiatives over his career including being major sponsor of the 50th Anniversary of Apollo 11 at Kennedy Space Center, launching Virgin Galactic with Richard Branson and having Apollo 11 astronaut Buzz Aldrin and Science Guy Bill Nye walk in his Men’s fashion show called “Life On Mars” at New York Fashion Week.1.    Building Personal Relationships in Business: The conversation between Ken and Nick highlights the importance of personal connections in business relationships. Despite the professional setting, their banter shows a long-standing friendship, emphasizing the significance of personal rapport in business dealings.2.    Entrepreneurial Journey: Nick Graham's journey from designing ties to founding Joe Boxer illustrates the entrepreneurial spirit and the unpredictable paths that lead to success. From humble beginnings to significant brand launches, his story underscores the importance of seizing opportunities and embracing creativity.3.    Branding and Marketing Strategy: Nick Graham's approach to branding emphasizes emotional engagement and storytelling. His philosophy that "the brand is the amusement park and the product is the souvenir" encapsulates the idea of creating an emotional connection with consumers, transcending the mere transactional aspect of purchasing.4.    Innovation and Adaptation: The evolution of Joe Boxer, from its inception to its collaborations with major retailers like Macy's and Kmart, demonstrates the importance of innovation and adaptation in staying relevant in the market. Nick's willingness to pivot and explore new ventures, such as his foray into fragrance and consulting with JCPenney, underscores the entrepreneurial mindset needed for sustained success.5.    Community and Brand Loyalty: The discussion touches upon the significance of building a community around a brand and fostering brand loyalty. Nick highlights the importance of understanding and speaking to the target audience, creating a sense of belonging, and fostering brand evangelism among consumers. This underscores the idea that successful brands go beyond selling products; they create a lifestyle and communitythat resonates with their audience.6.    Humor and Emotional Connection in Branding: Nick Graham emphasizes the importance of incorporating humor, irony, and a sense of fun into brand design to create emotional connections with customers. He believes that this approach sets his b...