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The Retail Pilot

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Mar 19, 2024 • 51min

Nyakio Grieco: Empowering Inclusion and Diversity in the Beauty Industry

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...
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Mar 12, 2024 • 36min

Tommy Hilfiger: The Blueprint for Building an Inclusive Global Brand

On this Flight of The Retail Pilot Ken speaks with LEGEND, Tommy Hilfiger, Principal Designer, Tommy Hilfiger Global.Uplifting and inspiring consumers since 1985, Tommy Hilfiger has pioneered one of the world’s most recognized premium lifestyle brands. With Hilfiger’s vision and leadership as Principal Designer, his eponymous brand celebrates the essence of classic American style with a modern twist. Tommy Hilfiger offers premium quality and value to consumers worldwide under the TOMMY HILFIGER and TOMMY JEANS lifestyles, with a breadth of collections including men’s, women’s and kids’ sportswear, denim, accessories, and footwear.Hilfiger’s career in fashion began when he was a high school student in 1969 — opening his first store, People’s Place, in his hometown of Elmira, New York. A decade later, he moved to Manhattan to pursue a career in fashion design, before launching his namesake brand with a single menswear collection. Since then, global retail sales of TOMMY HILFIGER products have grown to reach approximately $9.1 billion in 2022, powered by more than 16,000 associates worldwide — present in 100 countries and more than 2,000 retail stores, including its largest global flagship store at tommy.com.Hilfiger has a longstanding passion for philanthropy and making the world a better place for future generations. Through the global TommyCares organization, the brand supports various international initiatives and charities like Save the Children, the World Wildlife Fund and Fashion Minority Alliance. Hilfiger currently sits on the Board of Next for Autism. Through the Tommy Hilfiger Fashion Frontier Challenge and People’s Place Program, the brand is also making strides in its ambitious vision to create fashion that Wastes Nothing and Welcomes All – which actively focuses on topics such as social and environmental sustainability, diversity, and inclusivity in fashion and beyond.Diverse achievements in business and fashion have earned Hilfiger numerous distinguished awards including the CFDA’s prestigious Geoffrey Beene Lifetime Achievement Award in 2012, British GQ’s Design Legend of the Year in 2020, BFC’s Outstanding Achievement Award in 2021 and WWD's John B. Fairchild Honor for Lifetime Achievement in 2022. Hilfiger’s life and career have been chronicled in his memoir, American Dreamer, published in November 2016 — reflecting his experiences in the fashion industry from the last 35-plus years. Recounting his early childhood and formative years, it explores the setbacks, triumphs, and sheer determination that drove him to build a multi-billion-dollar global brand.Key takeaways from this interview include:Tommy Hilfiger's Background: Tommy Hilfiger began his journey in retail and design at a young age, starting his own business at 18 years old by opening a retail store -People’s Place - selling jeans in 1969. This venture eventually led him to designing and creating products for his stores, culminating in the establishment of his own brand.Innovative Store Concepts: Hilfiger's early stores, particularly People's Place, were not just retail outlets but cultural hubs influenced by music and fashion. They offered a variety of products, hosted band practices, and provided an immersive experience for customers, aligning with the youth culture of the time.Cultural Influences on Brand Identity: Hilfiger aimed to differentiate his brand from traditional preppy styles by infusing it with elements of music, particularly hip-hop, and embracing a more inclusive approach to fashion. This cultural fusion helped establish the personality of the Tommy Hilfiger brand.Disruptive Advertising Strategy: The Hangman ad campaign, conceived by advertising executive George Lois, was a bold and disruptive move that garnered attention for the brand. Despite...
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Feb 27, 2024 • 34min

From Chief Underpants Officer to Space Invader: Nick Graham on Innovation and Creativity at Joe Boxer and SPACEONE Industries

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...
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Feb 21, 2024 • 45min

Lori Coulter: Making Waves in Women's Swimwear and Beyond with Summersalt

Ken speaks with Lori Coulter, Co-Founder and CEO of Summersalt, on this Flight of The Retail Pilot - Leaders & Legends. Lori Coulter is the Co-Founder and CEO of Summersalt, a generation-defining lifestyle brand known for its data-backed fit and designer quality products without the designer price tag. In 2020, she was named one of Inc. Magazine’s Top 100 Female Founders. Lori and her Co-founder, Reshma Chattaram Chamberlin, launched Summersalt to change the conversation around swimwear and address a true market gap by creating designer swimwear without the designer price tag. Summersalt’s product is data-backed with 1.5 million measurements taken from 10,000 women’s body scans.From day one, Summersalt knew it wouldn't stop at swimwear. The first challenge was to transform the swimwear shopping experience from being intimidating and vulnerable to fun and empowering. Quickly, Summersalt expanded to include adventure-friendly essentials that help make every aspect of a woman's wardrobe more joyful and comfortable—from sleepwear to intimates to activewear. Named one of the Top 100 Upstarts in the world by CNBC, The Lead’s Breakout Company of the Year, and Fast Company’s Brands That Matter in 2022, the brand has seen exceptional growth and consumer adoption, garnering praise from leading outlets including Vogue, Elle, CNN and Forbes. Prior to launching Summersalt, Lori, a veteran start-up founder with deep expertise in design, supply chain and ecommerce, launched one of the first mass customization startups at the intersection of technology, fashion and data to incorporate body scanning and made-to-order manufacturing. Lori holds a Master of Business Administration from Washington University in St. Louis and a Bachelor of Business Administration from Baylor University. She serves on the Board of Trustees at her alma mater Washington University in St. Louis and champions inclusive economic development and entrepreneurship as a member of the University’s Skandalaris Center National Council. Outside of Summersalt, Lori enjoys spending time with her husband and two sons, and exploring the world through her love of travel and adventure. Key takeaways from this episode are:1.    Customer-Centric Approach: Lori Coulter emphasizes the importance of understanding and meeting the needs of the consumer. From the early stages, they focused on creating swimwear that empowered women to feel confident and engage with life. Their emphasis on fit, inclusivity, and sustainability reflects their commitment to their customers' values and preferences.2.    Direct-to-Consumer Success: Summersalt's success largely stems from its direct-to-consumer business model. By bypassing traditional retail channels and selling directly to customers online, they maintain a closer connection with their audience and have more control over their brand experience. This approach allowed them to optimize fit based on real-time feedback and manage returns effectively.3.    Strategic Partnerships and Collaborations: Summersalt leverages strategic partnerships and collaborations to expand its reach and grow its brand. They've collaborated with major retailers and plan to continue doing so, utilizing physical retail spaces alongside their online presence to reach a wider audience.4.    Adaptability and Resilience: The company demonstrated adaptability and resilience, particularly during challenging times such as the COVID-19 pandemic. Despite facing a significant drop in revenue, they managed to bounce back and even thrive by tapping into consumer demand for swimwear and leveraging their online presence.5.    Holistic Marketing Strategy...
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Feb 6, 2024 • 45min

An "Intimate" Conversation With Marissa Vosper and Lauren Schwab, Co-Founders of Negative

Ken interviews Co-Founders of Negative, Marissa Vosper and Lauren Schwab.Lauren Schwab co-founded Negative in 2014 alongside Marissa Vosper with no experience in the fashion and manufacturing industry. With a passionate belief that women deserved to love the garments closest to their skin, Lauren taught herself every stage of developing, fitting and producing beautiful and functional intimate apparel. Prior to Negative, Lauren started her career in finance, working at two globally recognized investment management firms. Lauren was selected as one of WWD's 40 Under 40 list of industry notables who are changing the face of retail, fashion and the beauty industry. She graduated from the University of Pennsylvania with degrees in Art History and Diplomatic History. When she isn't working on Negative, she loves spending time with her husband and 3 little kids.Marissa Vosper was born and raised in Boulder, CO. She attended the University of Pennsylvania, earning degrees in Political Science and Spanish Language. After establishing her early career in branding, she co-founded Negative in 2014 alongside Lauren Schwab. Within the company, Marissa is focused on all aspects of brand strategy, communications, marketing, web and customer experience. Prior to Negative, she worked at two large branding agencies for a variety of clients, including Fortune 500 corporations, fashion labels, luxury brands and start-up businesses. She was honored as part of the Forbes 30 Under 30 List of Entrepreneurs for Art & Style. Marissa currently resides in New York City with her husband and 3 sons.Key takeaways from this episode include:1.    Inspiration Behind Negative Underwear: Marissa and Lauren were inspired to start Negative Underwear after recognizing a gap in the market for high-quality, minimalist lingerie. Dissatisfied with the options available, they embarked on a four-year journey from concept to launch, conducting market research and product development while maintaining full-time jobs.2.    Differentiation in the Market: Negative Underwear aimed to distinguish itself by offering a product that combined high-quality raw materials sourced from European heritage mills with an accessible price point through a direct-to-consumer model. The founders identified a lack of options between luxurious, but expensive, brands and mass-market, poorly made options, positioning Negative Underwear in a unique space.3.    Strategic Naming and Branding: The name "Negative" was chosen to reflect the brand's commitment to minimalism and a direct, provocative appeal. The founders wanted to stand out from other lingerie brands that often had French or girly names. The name embodied their vision of creating a straightforward, American brand that challenged existing norms in the lingerie market.4.    Self-Funding and Growth Philosophy: Negative Underwear has achieved substantial growth without external funding. Marissa and Lauren emphasize the importance of sustainable and thoughtful growth, drawing parallels to iconic brands that built their success over time. They prioritize making a superior product and focus on creating brand allegiance through a methodical and customer-centric approach.5.    Future Growth Opportunities: While the brand has primarily focused on direct-to-consumer sales, the founders acknowledge the potential for growth in various channels, including wholesale, retail, and even exploring platforms like Amazon. Despite having experimented with pop-ups and partnerships in the past, their lean approach allows themto adapt quickly to new opportunities, leaving the door open for potential expansion.6.    Lean Team and Profitability: Negative has maintained a lean team with around 15 full-time employees, emphasizing a disciplined and profitabl...
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Jan 30, 2024 • 36min

Leadership Lessons from a Trailblazer: Jeanne Jackson on Empowering Women, Leading Great Companies, and Adding Strength at the Board Leve...

Ken interviews Jeanne Jackson for this Flight of The Retail Pilot.Jeanne P. Jackson is CEO of a private equity and consulting firm that she founded in 2002, MSP Capital. In 2018, she retired from Nike, Inc. after 16 years, serving first as a Board member for 7 years, then stepping into successive roles inside the Company as President, then Senior Advisor to the CEO. She recently retired from the Board of Directors of McDonalds, Inc., where she served since 1999, holding positions as Chair of the Compensation Committee, Chair of the Finance Committee, and member of the Governance Committee. She also recently retired from the Board of Kraft-Heinz, Inc., having served with Kraft Inc., since 2012, through the sale to a Warren Buffett/3G led Heinz, and staying with the combined Kraft Heinz entity until her retirement in May. She served on the Audit Committee and the Corporate Governance Committee. She serves currently as Director for Monster Beverages, Inc., and Delta Airlines,Inc., on both Finance and the People and Compensation Committees. In the past, Ms. Jackson has also served on the Boards of Nordstrom, Inc., Nike, Inc., Harrah’s Inc., Motorola Mobility Inc. (through its sale to Google), Williams-Sonoma, Inc., CRS Inc., and West Marine, Inc. Ms. Jackson has previously served as the Chief Executive Officer and President of Wal-Mart.com USA, LLC , President and Chief Executive Officer of Banana Republic, a Division of Gap, Inc., while simultaneously as President and Chief Executive Officer for Gap Inc.’s Direct division. Prior to Gap, Inc., Ms. Jackson held various retail and consumer Brand management positions with Victoria’s Secret, The Walt Disney Company, Saks Fifth Avenue, and Federated Department Stores.Ms. Jackson has served on the Board of Advisors of the Harvard Graduate School of Business, and University of California, Irvine Merage School of Business. She is the Past President of the United States Ski and Snowboard Foundation Board of Trustees, and served on numerous Community Boards. She is currently a member of the International Women's Forum of Las Vegas, and has, in the past, been recognized by Business Week as “One of the Year’s 25 Best Managers,” by Fortune as one of “The Most Powerful Women in Business,” and by Ad Age as one of “The Most Powerful Women in Sports.” Ms. Jackson holds a BS from the University of Colorado, and an MBA from Harvard’s Graduate School of Business Administration.Key takeaways from the podcast highlight Jeanne Jackson's impactful career in retail, showcasing her leadership skills, strategic thinking, and contributions to transforming and growing iconic brands.1.    Transformation of Banana Republic: Jeanne Jackson reflects on her leadership at Banana Republic, where she took the brand from being perceived as a stepchild to becoming a formidable brand within the Gap portfolio. This transformation involved assembling a high-quality team and pushing against opposition to lead the brand into the e-commerce space.2.    Transition to Retail Career: Jeanne's journey into retail wasn't initially planned. She had intended to enter the consumer packaged goods industry but was convinced by someone in the retail sector, Frank Arnone, to explore a career in retail. This encounter shifted her trajectory, leading her to successful roles at various retail companies.3.    Learning and Leadership Development: Jeanne attributes her leadership skills to lifelong learning and accumulating experiences. From her early exposure to extemporaneous speaking in high school to her experiences in business school, including the Harvard Business School method's case study approach, she developed the ability to assimilate data quickly and make decisions convincingly.4.    Selecting Board Positions: Jeanne shares her approach to selecting b...
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Jan 23, 2024 • 56min

Untucked and Unfiltered: Chris Riccobono's Story of Entrepreneurship as the Co-Founder of UNTUCKit

Ken interviews Chris Riccobono, Co-Founder and Executive Chairman of Untuckit., one of the fastest-growing men’s retail brands in the U.S.After earning his Bachelor’s degree from Providence College in 2001, Chris began his career at GE Healthcare and enrolled in Columbia Business School in 2007. While working towards his MBA, Chris thought of the idea for UNTUCKit after speaking with lots of men about their fit problems—especially the length of their collared shirts—and began the business from his apartment in Hoboken. It began as just a side job, but once Chris and his early customers realized that he’d solved a big problem in men’s fashion, the business quickly grew beyond his expectations—with a compound annual growth rate over 100% each year—into the brand we know today with more than 50 retail locations by the end of 2018 and an entrance into the international market.In addition to furthering his education and growing the brand, Chris dedicated time to sharing his passion for wine through a video blog called Pardon That Vine, traveling the world interviewing winemakers, and teaching beginners about wine. Chris was a winner of the Entrepreneur Of The Year® 2018 Award in New York and in his spare time he works closely with the Cancer Center at Atlantic Health System in New Jersey.Chris currently lives in New Jersey with his wife and children.Untuckit's Origin and Chris Riccobono's Journey: Chris Riccobono, the co-founder of Untuckit, started the company with the idea of creating a shirt designed to be worn untucked, addressing a common problem in men's fashion. The concept emerged from Chris's frustration with traditional shirts being too long, and he decided to venture into the fashion industry despite having no prior experience in the field.Struggles and Early Challenges: Untuckit faced initial challenges, including the difficulty of finding the right shirt length and manufacturing issues. They encountered setbacks like shirts shrinking and buttons unraveling. Chris and his partner struggled to make a quality product and initially had limited resources, raising a modest amount of money to launch the brand.Marketing Strategies and Growth: Untuckit adopted unconventional marketing strategies, such as radio ads and airline ads, to promote their unique product. The tagline "shirts designed to be worn untucked" resonated well with the audience. Despite the slow initial growth, Untuckit's brand strength and customer satisfaction led to significant success, with a focus on brick-and-mortar stores alongside online presence.Impact of the COVID-19 Pandemic: The podcast covers the unexpected challenges Untuckit faced during the COVID-19 pandemic. The company went from a position of rapid growth to considering bankruptcy within a few months. Chris highlights the importance of resilience and adaptability in overcoming the challenges posed by the pandemic, which significantly impacted the fashion industry.Current and Future Plans: Despite the challenges, Untuckit managed to survive and adapt. Chris discusses their recovery strategy, including negotiating with landlords and factories, raising debt, and ultimately becoming profitable again. Untuckit is optimistic about the future, planning to open 20-25 stores, exploring international markets, and diversifying into wholesale. The company aims to continue its growth trajectory and capitalize on its brand strength.Efficient Store Strategy: Chris emphasizes the importance of efficient store design and operations. He prefers stores in the range of 1,200 to 1,500 square feet, with a focus on cost-effective buildouts. The goal is to provide a productive and efficient shopping experience.Move Away from Large, Expensive Stores: Chris challenges the tradition...
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Jan 16, 2024 • 1h 2min

Stuffed with Wisdom: Sharon Price John on Innovation, Resilience and Leadership at Build-A-Bear Workshop

Ken interviews Sharon Price John, President and CEO of Build-A-Bear Workshop since 2013, where she has led the turning around and redefining of the multimillion-dollar company.Sharon graduated from the University of Tennessee, worked in the ad industry in New York City, earned an MBA from Columbia University, and managed iconic kids’ brands at companies like Mattel and Hasbro before accepting the role of president of the Stride Rite Children’s Group, which led to her taking the helm at Build-A-Bear.Sharon also serves on the board of directors at Jack in the Box, and on the executive committee of the Toy Industry Association board. She has been named to the University of Tennessee’s Top 100 Alumni of the last 100 years and recognized as a Distinguished Alumni by Columbia Women in Business. In March 2023, she was number six on the Forbes 20 Customer-Centric Companies Led by Women. Recently, Sharon has authored and published the book "Stories & Heart: Unlock the Power of Personal Stories to Create a Life You Love," which has achieved impressive success since its release in January 2023. Sharon has three children and lives in St. Louis with her husband, Russ.Key Takeaways from this episode include:1.    Turnaround Expertise: Sharon Price John shared her experience in turning around companies, drawing parallels between her work at StrideRite and Build-A-Bear. She emphasized the importance of strategic decisions, cost-cutting measures, and aligning the organization towards a common goal.2.    Experiential Retail and Adaptability: The discussion highlighted Build-A-Bear's emphasis on experiential retail, with the closure of physical stores during the pandemic presenting a unique challenge. Sharon discussed the company's swift adaptation, leveraging online sales and the fortunate timing of key initiatives, such as the partnership with Salesforce.3.    Baby Yoda Strategy: The timely identification and retention of the popular character Baby Yoda (from The Mandalorian) became a crucial element in sustaining revenue during the pandemic. Build-A-Bear's decision to hold inventory and focus on online sales, using Baby Yoda as a catalyst, showcased strategic foresight.4.    Employee Engagement: Sharon shared a motivational approach used during the challenging times, encouraging employees to view financial goals as catching a metaphorical dollar bill. This approach helped instill a sense of responsibility and accountability, creating a positive impact on the organization's financial performance.5.    Future Initiatives: Looking forward, Build-A-Bear has outlined key initiatives for the future, including the expansion to additional locations, enhancing the digital experience, and reinvesting in the business. These initiatives aim to build on the momentum gained during the pandemic and position the company for continued success.6.    Diversification of Store Models: Build-A-Bear has evolved its store model significantly. They have various types of stores, including owned and operated, partnership models with companies like Great Wolf Lodge and Carnival Cruise Lines, temporary pop-up shops, and franchise businesses in multiple countries.7.    Enhancing In-Store Experience: The company has focused on improving the in-store experience by updating store formats, introducing a discovery format, and enhancing the efficiency of the stuffing process. The renegotiation of leases and consideration for turnover dynamics has been part of their strategy.8.    Adaptation to COVID Challenges: Build-A-Bear did not significantly close stores during the COVID period but focused on renegotiating leases. They navigated the challenges posed by the pandemic, especially in international franchises like India and Ch...
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Jan 9, 2024 • 47min

Tech Talk: Solving the Retail Staffing Challenge with Mike Meyers, Ron Thurston & Sharonda Weatherspoon

Ken interviews three experts in Retail store staffing for the inaugural Tech Talk podcast episode.Sharonda Weatherspoon is the SVP, Head of Retail Transformation, Client Development, and Operations, as well as the Co-Chair of North America's Diversity and Inclusion ERG. She has spent over 24 years at Ralph Lauren, surviving my tenure, and moving up through the ranks, starting as a General Manager, and in her most recent role, as SVP of retail stores from North America. Sharonda has always worked directly with the stores and fully understands the frontline experience where her focus has been to create the best customer experience and the appropriate staff to support it.Ron Thurston is the founder of OSSY, a platform that aggregates store employee talent from sales associate to leadership roles, enabling retailers and brands to easily access Aussie's labor pool. Ron is also the author of the Amazon bestseller, Retail Pride, championing joy and success in the service industry. Ron's book draws on his experience and store leadership roles with Intermix, San Laurent, Tory Burch, Apple, West Elm, and Gap. Ron also hosts a podcast, Retail in America.Mike Myers is the co-founder and CEO of Reflex and has spent the last decade building early stage companies as both a founder and an early stage venture. Reflex works with some of the top brands in retail today and helps brands leverage a flexible labor model to drive store performance. Retailers use Reflex to connect with experienced on-demand retail store associates and to flex their labor models to support the real time needs of the business.Key Takeaways from this episode are:1.    Evolution of Retail Staffing Post-COVID: The post-COVID environment has significantly changed the landscape of retail staffing. Retailers have had to adapt rapidly to evolving business models, leading to challenges in finding and retaining talent. Competing for local talent, dealing with the gig economy, upskilling rapidly, and identifying the right candidate profiles have become significant hurdles.2.    Shift Towards On-Demand Flexible Talent: The emergence of platforms like Reflex has transformed the staffing model. They facilitate connecting retailers with on-demand, experienced retail talent, allowing for real-time staffing adjustments based on business needs rather than fixed hiring plans.3.    Tech-Driven Recruitment Solutions: Reflex, as a tech platform, streamlines the staffing process. It provides a platform for retailers to access a pool of vetted workers for various roles, from back of house to front of house, offering flexibility in scheduling and facilitating worker-retailer feedback through ratings and reviews.4.    Challenges and Benefits of Adopting New Staffing Models: Trust remains a significant obstacle for retailers adopting flexible staffing solutions like Reflex. However, the platform's benefits, including reducing turnover costs, addressing immediate staffing needs, and potential cost savings in comparison to traditional hiring and retention methods, make a compelling case for its adoption.5.    Changing the Perception of Retail Jobs: The introduction of platforms like Ossy seeks to redefine the hiring process, especially for the retail workforce. It aims to replace traditional resumes with dynamic digital profiles, utilizing AI-driven algorithms to match candidates with suitable retail roles, focusing on soft skills, empathy, and curiosity, ultimately changing how individuals perceive and access retail job opportunities.6.    Industry Insights through Trade Shows and Networking: Sharonda gains industry knowledge and stays updated by attending trade shows like NRF. and various others. Networking through LinkedIn and connections with individuals like...
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Dec 19, 2023 • 53min

Buy One, Give One = “BOGO” for the Modern Age: How Dave Heath, CEO & Co-Founder of Bombas, Built a Brand In the Spirit of Giving

Dave Heath is the Co-Founder and Chief Executive Officer of Bombas. Prior to the launch in 2013, Dave dedicated two years to rigorous product testing and refinement to create the best performing and most comfortable sock available, while staying true to their mission of helping those in need. Dave holds a BA from Babson College with majors in Marketing, Management, and Entrepreneurship. Previously, he led business development as one of the founding employees at UrbanDaddy followed by joining the new media acquisitions and strategy team at Yucaipa Companies. As a true serial entrepreneur, Dave has founded three companies, with one successful exit, and has invested and consulted on a range of start-up businesses from concept, through launch and continued growth. Dave has been featured on ABC’s Shark Tank, NBC TODAY Show, CBS This Morning, ABC Good Morning America, Bloomberg TV and in The New York Times, and was named EY Entrepreneur of the Year in 2017.In this episode of The Retail Pilot, Dave Heath joins Ken Pilot and discusses the journey of starting a mission-based sock company and the challenges and successes along the way. He shares insights on the importance of focus, sustainable growth, and using time to your advantage. Dave also talks about the power of partnerships and collaborations that align with Bombas' mission. He emphasizes the need for authenticity and staying true to the brand's values. Additionally, he discusses the role of technology in marketing and the future of the company. In this conversation, Dave Heath discusses the potential of AI in e-commerce and its application in various areas such as asset creation, site updates, and site merchandising. He also introduces Constructor, an AI-powered site merchandising tool. The conversation touches on the use of AI in customer service and the importance of understanding the customer experience. Additionally, Dave shares his favorite streamed shows and provides a promo code for Bombus products.Key Takeaways from this episode of The Retail Pilot with Dave Heath, CEO of Bombas:1.    Entrepreneurial Journey and Problem-Solving Approach: Dave Heath's journey began with a desire to work for himself, learning various skills and exploring different industries, always with the intent of eventually starting his own business. His approach was less about the industry and more about identifying and solving problems. He noticed the lack of socks in homeless shelters, leading him to start Bombas with a mission to donate a pair of socks for every pair sold.2.    Socially Conscious Business Model: Bombas was established with a buy-one-give-one model, similar to TOMS Shoes, to address the significant need for socks in homeless communities. Over time, this model evolved to include not just socks but also underwear and t-shirts, the top three most requested clothing items at homeless shelters.3.    Founding Team Dynamics: Dave Heath, along with co-founder Randy Goldberg and two others, formed a cohesive team where each member possessed specific skills that complemented one another. Their self-awareness of strengths and weaknesses helped them work effectively together, aligning their shared values and visions for the company's ethical growth.4.    Sustainable Growth Strategy: Bombas adopted a deliberate, focused growth strategy rather than chasing rapid expansion. They avoided excessive fundraising and maintained profitability from the outset. They prioritized methodical growth, aiming for sustainability and quality over immediate scale. This approach allowed them to retain control and avoid unnecessary stress associated with continuously raising capital.5.    Multi-Channel Distribution Strategy: Despite primarily being a direct-to-consumer (D2C) brand, Bombas strategically entered the wholes...

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