News and Events
News and announcements from the Retail Management Institute.
Friday, Jan. 21, 2011
Our very last stop was to see another Santa Clara alum, Chantel Waterbury, who graduated in ’97. Ever since, she has accomplished amazing things. Gail Kirby and Cynthia Gamage had told us about her before our meeting, but hearing her story from her own lips was truly inspiring.
When she graduated from Santa Clara, she went to work for Mervyns, starting at the lowest level and worked her way up to Buyer in about 2 years, setting the record for the quickest ascent in the company. She then went to Macy’s and worked as a Buyer for several years. She then went on to become the Director of Accessories at Old Navy at GAP Inc. After being at Old Navy for a short while, Chantel became Merchandise Manager of Luxury Jewelry for DFS Inc where she had access to many prestigious brands like Cartier and was able to work with beautiful jewelry. With this job she spent a lot of time in Asia studying the different buying trends of the different sectors of the countries. She then went on to become the Vice President of Kenneth Cole Jewelry at Haskell Jewels where she was able to completely create a jewelry line to match Kenneth Cole’s new clothing line.
When she got pregnant, Chantel needed to leave her job at Kenneth Cole while on maternity leave. During this time she told us that she got bored and decided to write a business plan as it had always been her dream to start her own business. Due to Chantel’s incredible history and her perseverant attitude, I have no doubt that her new jewelry line, Chloe and Isabel, will be a great success. She told us that her movement to the many different companies really helped her to grow and develop, not only in her business, but as a person.
At each new company she learned a new aspect of the jewelry business which only fueled her passion for her work. Chantel gave us some great advice as soon to be college graduates. She told us to always believe in ourselves and to always make sure we are growing in the company we are at. If we feel we are not growing, it’s time for a change, no matter how difficult the transfer may be, as this way, we will always be growing.
Thursday, Jan. 20, 2011
On Tuesday, January 11, 2011, we had the pleasure of visiting Calvin Klein’s men’s sportswear showroom and CRK, which is Calvin Klein’s internal advertising agency that manages all of the brand’s advertising and marketing endeavors. We were able to catch up with Ken Duane, the Vice Chairman of Phillips-Van Heusen, Calvin Klein’s parent company, and member of the Retail Management Institute’s Advisory Board. In addition, we met with Molly Yearick, the President of Calvin Klein sportswear. After hearing about Calvin Klein’s wholesale business and how Molly ended up in the industry, we walked down the block to CRK to visit with Michael DeLellis, the Senior Vice President of Corporate Advertising. Michael and his team showed us a video about the history of Calvin Klein’s advertisements and walked us through their new media endeavors, including their recent QR Code billboard where people could take a picture of the billboard with their smart phone and then automatically see the new Calvin Klein video on their phone. The entire experience was beyond exciting, helped us gain a better experience of the Calvin Klein brand, and exposed us to what the company has done to remain one of the most respected and relevant brands in the world for more than forty years.
Tuesday, Jan. 18, 2011
Today we went to the Hugo Boss office to meet with Mark Brashear, CEO and President of Hugo Boss Americas. We were able to speak with him about his career path as well as one of his colleagues, Chelsea, about what direction Hugo Boss is going in. Mark Brashear began his career working for Macys, followed by working for Nordstrom. He then branched off to work for Facconable when Nordstrom decided to part with the brand, taking him to work in Paris. Two years ago he came to work for Hugo Boss Americas. Mark was also kind enough to offer some career advice. He emphasized that it is important to recognize that you must take wonderful opportunities that you are presented with and that your main goal must that you desire to achieve can be obtained through all of the experience and the path you take that leads up to it.
Mark was kind enough to give us a tour of the Hugo Boss Showroom as well as a presentation overview on the company. Chelsea informed us that Hugo Boss has a 96% brand awareness in the United States and that they are greatly focusing on e-commerce. They have recently been very much looking into paying a lot of attention to Facebook, Twitter, and Hugo Boss TV. They are looking to target consumers through these channels in order to be able to keep up with the new trend of using mobile phones, as well as being able to target a wider range of consumers and expose the product.
There are several different lines that they manufacture, including Boss Black, Boss Selection, Boss Orange, Boss Green, and Hugo by Hugo Boss. As we walked around the showroom we were able to see pieces from these collections. Hugo Boss is currently preparing for customers to come in and view the new product in the showroom, so we were able to see how they are preparing to display these items in this season's showing, coming up in a few days.
The Hugo Boss office was AMAZING. It looks right over the Hudson River, and Mark said that he actually saw the plane when it crashed into the river. It was right after he had moved into the new office. You can see the Statue of Liberty from the other side of his office, and the showroom, though always changing, is also amazing. Mark is SUCH a nice man and is part of our Advisory Board. If you ever get the opportunity to meet him, don't hesitate to take it.
Wednesday, Jan. 12, 2011
One of the main topics at the NRF 100th Annual Convention (Retail's Big Show) in New York this past week, was m-commerce. By 2012 more than 50% of all sales will be mobile-enabled in some way. The challenge that retailers have to overcome is how to integrate this new channel successfully.
In the seminar “Using Mobile Payments to Increase the Base of Contactable Customers” by Richard Crone, CEO& Founder of Crone Consulting argued that the use of mobile payment is the key to connecting to more customers. The rule is- The One Who Enrolls, Is the One Who Controls. The main goal of retailer is to move a customer from anonymous to contactable, to hopefully make them a loyal customer. If you can get customers to integrate your App through their whole shopping experience, they will be contactable for the retailer.
Customer usually use mobile to locate stores, research prices, or to find coupons and reviews. Mobile is an enabler channel- it is included in almost every other channel. Consumers use it increasingly in their in-store shopping experience. For example, when shopping in a mall the customer can use his smart phone to locate the store, to compare prices or to read product reviews. Barcode scanning has increased 700% last year. However, once the customer is in a store, Crone argues, that the cross- channel self-service has to be optimized. This is achieved by motivating the customer to pay through their mobile. As the rule is, The One Who Enrolls, Is the One Who Controls, mobile payment increases mobile engagement with that retailer.
M-Commerce has to be a customer driven model, and redefines the 4 P’s.
Place- Locator app, In-store locate products
Promotion- customized to area, demographic
Preference- customization of recommendations, coupons
Payment- easy mobile payment!
The integration of mobile allows the retailer to customize the customer’s shopping process through their whole purchasing journey. They key is to get customers enrolled…which is achieved through mobile payments!