The Retail Pilot

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...

Dave Powers, President & CEO of Deckers Brands, shares his insights from a rich career in footwear. He dives into Hoka's incredible growth and how it's bridged from niche to mainstream by focusing on athletes. Dave discusses the significance of collaborations in boosting brand visibility for companies like UGG. He also explores the impact of technology on retail through omni-channel innovations, and how TikTok is transforming marketing strategies, enhancing brand authenticity by leveraging user-generated content.

Ken Pilot interviews Stephen Yalof, President and CEO of Tanger, Inc. Stephen Yalof is the President and Chief Executive Officer of Tanger Factory Outlet Centers, Inc., a leading operator of upscale, open-air outlet centers with 37 locations and an additional center currently under development across 20 states and Canada. Steve joined in April 2020 as President and Chief Operating Officer before succeeding Steven B. Tanger as CEO in January 2021, bringing with him over 25 years of experience in the commercial real estate industry, with a primary focus on the retail space. He oversees the operations of the executive and senior leadership teams, emphasizing evolving the customer shopping experience, and sits on the board of directors.Before joining Tanger Outlets, Steve served as the Chief Executive Officer of Simon Premium Outlets, where he drove forward the expansion and development of their real estate portfolio. He previously served as Senior Vice President of Real Estate for Ralph Lauren and Senior Director of Real Estate for The Gap, Inc.Steve serves as a Trustee of the International Council of Shopping Centers (ICSC), as well as on the advisory boards of HeadCount and the Center for Real Estate & Urban Analysis (CREUA) at George Washington University, his alma mater, where he earned a B.S. in Business Administration.Key takeaways from this podcast are:1.    Holiday Optimism: Yalof expresses optimism about the holiday selling season, citing it as one of the biggest weekends for retail sales. He emphasizes the importance of monitoring traffic, sales, and anecdotes in gauging success.2.    Career Journey & Industry Connections: Yalof reflects on his career journey, starting from New Plan Realty Trust to working with the Gap and Ralph Lauren. He highlights the growth and accomplishments of individuals he's worked with who are now in influential roles in different companies within the retail industry.3.    Outlet Centers & Retail Success: He delves into the outlet business model, highlighting how outlet centers differentiate themselves from traditional retail spaces. Yalof emphasizes how retailers in outlet spaces offer lifestyle-focused brand experiences and attract customers seeking brand-specific items.4.    Tanger's Approach & Evolution: Tanger, now Tanger Inc., has redefined itself to adapt to changing consumer behavior, focusing on the local community and tourism. They've expanded offerings beyond just shopping to include better food options, amenities, and even entertainment to enhance the overall experience.5.    Team Building & Field-Led Approach: Yalof emphasizes the importance of his team, the changes made to the leasing and operational structures, and the decentralization of the decision-making process. He values field-led management, considering each location's uniqueness and tailoring strategies accordingly.6.    Leadership Transition and Vision: Steve Yalof has stepped into a prominent leadership role at Tanger Inc. after Steve Tanger's departure. Yalof's leadership, vision, and ability to attract talent are highlighted as crucial factors impacting the company positively.7.    Challenges Faced: Yalof outlines three significant challenges: talent retention due to increased competition, security concerns related to organized crime affecting shoppers, and the impact of global economic fluctuations on consumer spending and disposable income.8.    Diverse Growth Opportunities: Beyond organic growth strategies like adding new shopping centers, Tanger Inc. expl...

Ken interviews Veronica Miele Beard and Veronica Swanson Beard, sisters-in-law and Co-Founders of women's lifestyle brand, Veronica Beard. Veronica Miele Beard is from North Caldwell, New Jersey, and hails from the world of finance. She worked in sales and trading at multiple investment banks on Wall Street—and did a stint in ad sales at Vogue—before becoming a partner and COO at technology hedge fund, Coatue, where she learned to take risks and build a business. A mother of five, Veronica loves to travel and take her kids off the grid.Veronica Swanson Beard grew up on both coasts, in San Francisco, California and Naples, Florida. Her career in fashion started at Narciso Rodriguez and Alberta Ferretti, in wholesale, and as a buyer for Marissa Collections in Florida. If not a fashion designer, this mother of three would be flipping real estate and designing interiors.Key Highlights of The Podcast:1. Unique Beginnings and Partnership: Veronica Miele Beard and Veronica Swanson Beard met at a wedding and became sisters-in-law. Both shared a passion for fashion and product obsession, leading them to create a fashion line together.2.Combining Different Skill Sets: Veronica Miele Beard came from a fashion background while Veronica Swanson Beard had a finance background. Their collaboration brought together creativity, fashion connections, business acumen, and an understanding of product, which played crucial roles in their company's formation.3. Identifying a Market Void: Their vision focused on creating a "uniform" for women, beginning with the iconic Dickie jacket. Recognizing the need for versatile, interchangeable pieces that offered style, functionality, and adaptability for women in various professions and stages of life became their foundation.4. Bootstrap Business Start: Starting the company required minimal initial funding. They operated from Veronica Miele Beard's apartment, driving around in Veronica Swanson Beard's car, creating samples, and handling everything themselves, emphasizing a hands-on approach and learning experience.5. Adaptation and Growth: They initially positioned themselves in the opening designer market but repositioned to advanced contemporary, lowering price points by 30% to cater to a broader audience. Their ability to adapt, identify gaps in the market, and create a unique brand around quality products contributed significantly to their success.6. Denim as a Crucial Component: The founders emphasize the importance of denim in their business. They've honed in on perfecting the fit and style of women's jeans, understanding that jeans are a fundamental aspect of American fashion. Denim is considered the casualization of Veronica Beard and is a key element in keeping customers engaged.7. Customer-Centric Approach: They extensively study and understand their customers, considering various body shapes, sizes, and preferences. They recognize that women will go to great lengths to find the perfect pair of jeans and focus on ensuring their brand accommodates diverse customer needs.8. Global Inspiration and Market Adaptation: Travel serves as a significant source of inspiration. They discuss visiting different cultures and markets, observing how women in various parts of the world approach fashion. Adapting their brand to suit different markets, understanding local preferences, colors, and trends, is a key part of their strategy.9. Transition to Direct-to-Consumer and Retail Experience: The founders discuss their transition from wholesale to direct-to-consumer retail. They highlight the importance of owning the brand's narrative, storytelling, and creating an immersive experience in their stores, which serve as community hubs for their customers....

Terry Lundgren, former CEO of Macy’s, Inc., shares his extensive retail expertise. He discusses Macy's current challenges, including innovative tech solutions like RFID to combat theft and enhance customer experience. Lundgren reflects on his transition through major retailers, emphasizing mentorship and e-commerce integration. He highlights department stores' shift to smaller formats while maintaining brand allure. The conversation touches on the future of retail, inventory management innovations, and the importance of unique customer experiences in a competitive landscape.

Ken interviews Matt Mueller, Founder and CEO of Knot Standard, the leader in premium custom menswear in the United States. Matt has been one of the most pivotal figures behind tech innovation in menswear over the last decade, creating the unique, AI-powered Style Wall and Fit App for Knot Standard, and holding numerous other patents. He has a 25-year record in global business and technology, having worked with firms such as the Advisory Board Company, Gannett, Harvard, and Dubai Holding. Beyond his professional successes, Matt is the extremely proud father of his five young children, and holds a degree in Finance from the McIntire School of Commerce at the University of Virginia where he is also a Guest Lecturer. When he is not simultaneously working on Knot Standard or advising new startups, Matt and his family enjoy traveling around the globe.Key Takeaways of the Podcast Include:1.    Matt, the CEO of Kot Standard, is a pioneer in tech innovation for menswear. He has over 25 years of experience in global business and technology, and has played a pivotal role in developing AI-powered style solutions for menswear.2.    Kot Standard started as an online-only custom clothing brand based in Dubai. They focused on providing confidence through well-fitting, custom-made clothing. Over time, they expanded their offerings and entered the brick-and-mortar space with successful store openings.3.    Technology has been a crucial component of Knot Standard's success. They developed in-house measuring apps and integrated ordering and supply chain systems, which enabled them to efficiently produce custom clothing without the need for extensive inventory.4.    During the COVID-19 pandemic, Knot Standard introduced virtual appointments, which turned out to be a critical move for their survival. These virtual appointments, along with their technology-driven approach, allowed them to adapt and thrive in a challenging retail landscape.5.    Knot Standard's innovative business model is now being extended to partnerships with established brands. They have partnered with retailers like Brooks Brothers and Nordstrom, leveraging their technology to offer custom clothing solutions within existing stores. This approach minimizes inventory risks and provides a new revenue stream for the partner brands.6.    Knot Standard is exploring international expansion, considering opportunities in global markets. They believe that their technology-driven, custom clothing platform can be successfully replicated in various regions around the world.7.    Business Growth: In the last 18 months, Knot Standard has experienced significant growth, particularly with partnerships like Nordstrom and Brooks Brothers. They now cover about $25 million in annual orders, with half of that coming from their online platform and the other half from physical stores.8.    Revenue Sources: Approximately 25% of Knot Standard's revenue comes from software and wholesale installations. This is a significant portion of their overall business, and it is expected to grow in the coming years.9.    Store Performance: Knot Standard's own stores have been performing exceptionally well, with an average four-wall EBITDA of 32%. This is significantly higher than industry averages, indicating the success of their approach to retail.10. Funding and Investment: Knot Standard has raised approximately $35 million in funding to support their growth. Their lead investor is a group called Provenance, which recognized the value of the brand's loyal customer base and high-end purchase behavior.11. Competition and Differentiation: Knot Standard sees its competition as not just ot...

On Episode 30 of The Retail Pilot, Ken Pilot interviews Stephen Kuhl, Co-Founder and CEO of Burrow, a furniture design brand that’s making it radically easier for people to feel at home through innovative, award winning, furniture and unparalleled customer experience. Launched in 2017, Burrow is one of the fastest growing furniture brands in the world and has raised venture capital from leading venture firms including New Enterprise Associates, Y Combinator, Parkway VC, and Red & Blue Ventures. Mr. Kuhl is an investor and advisor to several startups including Commerce Bear, Suite Plants, and Desk View. Prior to Burrow, Mr. Kuhl was a growth investor at Commonfund Capital and worked in Accenture’s Global Strategy group, specializing in operating model design. Mr. Kuhl earned a B.S. with honors from Cornell University and an M.B.A. from The Wharton School at the University of Pennsylvania.1.    Inception of Burrow: Stephen Kuhl, the CEO and co-founder of Burrow, shared how the idea for the company originated during an entrepreneurship class at Wharton. The inspiration came from the success of mattress-in-a-box companies like Casper, and the vision was to apply a similar concept to furniture.2.    Revolutionizing Furniture Retail: Burrow's innovative approach involves modular, easy-to-ship furniture that can be assembled without the need for tools. This concept was developed strategically to optimize the supply chain for e-commerce, allowing for quick delivery and a wide range of customizable options.3.    Strategic Branding with Red Antler: Kuhl highlighted the importance of branding in communicating Burrow's value proposition. The company collaborated with Red Antler for naming, visual identity, and storytelling, which played a crucial role in establishing Burrow as a distinctive D2C furniture brand.4.    Business Growth and Model: Burrow has seen significant growth, with over 100 million in top-line sales. The company's primary focus is direct-to-consumer sales, with about 90% of their business conducted online. They also operate showrooms where customers can experience the products in person.5.    Competing with Established Brands: Burrow competes directly with well-known brands like West Elm and Crate and Barrel. The key differentiators for Burrow are the quality, durability, convenience, and speed of delivery they offer compared to their competitors in a similar price range.6.    Transition to Sole CEO: Stephen Kuhl discusses the transition from being co-CEO with Kabir to becoming the sole CEO of their company, Burrow. He explains that early on, they were co-CEOs, but Y Combinator advised against it, leading them to drop the title and become co-founders. Ultimately, they decided on their roles, with Stephen as the CEO and Kabir as the CTO.7.    Importance of Co-Founders: Kuhl emphasizes the significance of the co-founder role, stating that no matter the titles, they both remained co-founders, and the success of the company depended on both.8.    Tech Stack and SaaS Tools: Kuhl shares some details about their tech stack, mentioning that they use BigCommerce for their e-commerce site and NetSuite for ERP. He highlights the importance of leveraging technology throughout their business, including marketing technology, and the potential role of AI in future marketing.9.    Marketing Strategies: The discussion touches on the challenges of marketing, particularly in the post-iOS changes era. Kuhl talks about diversifying their marketing channels, adapting to platforms like Instagram, TikTok, and Reels, and exploring content that resonates with their target audience.10.    Path to Profitability: Kuhl talks about Burrow's path to profitability, mentioning that they achieved profitability...

1.    Todd Snyder's Background: Todd Snyder, a retail designer, grew up in Ames, Iowa, with a background in business. Despite his unconventional path, his passion for clothes and fashion ultimately led him to pursue a career in design.2.    Early Fashion Influences: During his high school years, Todd admired designers such as Calvin Klein, Ralph Lauren, and Armani. However, as he transitioned into college and began working in retail (particularly selling Ralph Lauren's Polo clothing), his admiration for Ralph Lauren's work grew, solidifying his aspiration to become a designer.3.    Early Retail Experience: Todd gained valuable experience in the retail industry, working at various stores in Iowa, including Yonkers and The Buckle. He also worked in a store called Bedowers, where he not only sold menswear but also worked in the tailor shop, sparking his interest in the process of creating clothing.4.    Internship at Ralph Lauren: Todd's first significant step into the fashion industry was through an internship at Ralph Lauren. As an intern, he took on various tasks, ranging from fetching coffee to organizing the closet. This experience allowed him to make a positive impression and eventually led to freelance opportunities with the company.5.    Transition to J.Crew: In 1993, Todd transitioned to J.Crew, a pivotal time for the company's growth. While at J.Crew, he contributed to the development and expansion of the business.6.    Challenges of Running a Business Solo: Todd shares the difficulties he faced while self-funding his business, highlighting the limitations of personal credit and the need for external investment. He reflects on the pivotal moment when American Eagle approached him, providing an opportunity for growth.7.    Transition from Wholesale to Direct-to-Consumer: Todd discusses the evolution of his business model, emphasizing the shift from primarily wholesaling to being almost entirely direct-to-consumer. He explains the challenges he faced with wholesale, such as differing seasonal schedules and SEO competition, and the benefits of focusing on direct customer engagement.8.    Diverse Product Assortment and Customer Segmentation: Todd emphasizes his commitment to offering a wide range of products, from sweatshirts to tuxedos, to create a one-stop shopping experience for men. He also shares insights on customer segmentation and the importance of effectively managing a growing customer base.9.    Marketing Strategies: Todd discusses the various marketing channels he utilizes, including influencer collaborations, affiliate partnerships, and social media advertising. He highlights the shift towards mobile-focused advertising and the challenges posed by recent iOS changes10. Embracing Technology for Customer Engagement: Todd reveals his interest in implementing AI-driven tools to enhance customer experience. He expresses the importance of using technology, like CRM systems and AI, to predict and cater to customer preferences, providing a personalized shopping experience.Hosted by Ausha. See ausha.co/privacy-policy for more information.

Ken Pilot interviews Sheryl Clark, CEO & President of Boston Proper, a best-kept secret for women over 40, designing unique, on-trend, high-quality fashion for every occasion. Sheryl’s experience includes time at Bloomingdales, Gap and Old Navy prior to joining Boston Proper.Key highlights of the interview are:Sheryl's Background and Career Journey: Sheryl shares her background, growing up in an Italian immigrant family, and her early fascination with clothing. She discusses her education in business economics and fashion merchandising, as well as her start in the Bloomingdale's executive training program.Career at Gap Inc.: Sheryl talks about her time at Gap Inc., including her experiences at Bloomingdale's and the Gap. She highlights a pivotal moment when she took on a VP of men's position, demonstrating the importance of being open to new opportunities.Transition to Old Navy: Sheryl discusses her transition to Old Navy, where she played a significant role in the brand's growth and success. She emphasizes the importance of key items and marketing in differentiating the brand.Challenges and Growth at Boston Proper: Sheryl shares her decision to leave Gap Inc. and join Boston Proper as CEO. She reflects on the challenges and changes the company underwent, including a sale to Chico's and a subsequent transition to private equity ownership. She also introduces the concept of "Lucy," the brand's target customer.Future Plans and Strategies: Sheryl outlines the three pillars of Boston Proper's growth strategy: shifting from catalog-focused to customer-focused, enhancing customer experience, and going digital. She also announces the upcoming launch of the Miracle marketplace, which aims to expand the brand's assortment and reach new customers.Marketplace Strategy vs. Pure Wholesale: Sheryl Clark discusses Boston Proper's interest in utilizing the Miracle Marketplace Network rather than pure wholesale due to margin considerations and the need to refine their sourcing strategy.Transition to Digital: Sheryl emphasizes the brand's shift towards digital, acknowledging the challenge of transitioning a 30-year-old catalog-centric culture to a digital-focused approach.Introduction of a Loyalty Program: Sheryl mentions the launch of Boston Proper's first-ever loyalty program with Yap-O, aiming to increase customer frequency and average order value.Technological Advancements: Sheryl outlines the adoption of various technologies to enhance customer experience, including Publitas for digitizing the physical catalog, Gorgias for customer service, and exploring shoppable video platforms like Firework.Marketing Shift Towards Digital: Sheryl discusses the evolution of Boston Proper's marketing strategy from predominantly catalog-based to allocating over 50% of marketing spend on digital channels. She highlights successful ventures into OTT advertising and podcasts with iHeartMedia. Hosted by Ausha. See ausha.co/privacy-policy for more information.

Alex and Mike Faherty discuss their journey from passion to brand, revealing the importance of authenticity in retail. They share insights on building a positive work culture and the thrill of making personal connections with customers. The brothers highlight their innovative sourcing practices and plans for strategic growth in women's apparel. With a focus on embracing technology, they delve into evolving social media strategies and the role of AI in enhancing customer experiences. Their story reflects a blend of creativity, collaboration, and commitment to ethical fashion.