The Saks Effect: Leading the Next Chapter of Luxury With Marc Metrick

Ken Pilot speaks with Ramy Brook Sharp one year later on The Retail Pilot podcast. Ramy is the Founder and CEO of eponymous brand, Ramy Brook.In this conversation, Ken and Ramy discuss the current state of Ramy Brook, a fashion brand, and the strategies they are implementing to grow the business. They talk about the balance between wholesale and e-commerce, successful collaborations, marketing tactics, and the use of technology like AI in the fashion industry. In this part of the conversation, Ramy Brook Sharp discusses the use of AI technology in the fashion industry, the growth and future plans for Ramy Brook, and the potential for expansion into new product categories and markets. She also talks about the importance of the team and the role of her husband in the financial aspect of the business. The conversation concludes with a rapid-fire round of questions.Takeaways·     Ramy Brook is a fashion brand known for its sexy, silky tops and contemporary price point.·     The company has a balanced approach to sales, with about 50% of revenue coming from wholesale and 50% from e-commerce.·     Successful collaborations with jewelry designers, shoe brands, and activewear companies have helped expand Ramy Brook's product offerings and reach new customers.·     Marketing efforts focus on social media platforms like Facebook and Instagram, as well as influencer partnerships and traditional digital marketing.·     The use of AI technology, such as Raspberry AI, is being explored to improve design iterations and speed up the production process. AI technology can save time and improve the process in the fashion industry, particularly in areas like photo shoots and design decisions.·     Ramy Brook is focused on slow and steady growth, with plans to expand the team in design and sales.·     The brand is exploring new product categories such as jewelry and accessories.·     International expansion is a key area of growth for Ramy Brook.·     The company is considering opening brick-and-mortar stores in strategic locations.·     Ramy Brook admires designers Donna Karan and Diane von Furstenberg and would like to meet Taylor Swift. Chapters00:00Introduction and Catching Up02:47The Growth of Ramy Brook: From Sexy Tops to a Full Collection06:15Balancing Wholesale and E-commerce: Ramy Brook's Sales Strategy10:24Successful Collaborations: Expanding Ramy Brook's Product Offerings15:06Marketing Tactics: Social Media, Influencers, and Digital Advertising26:17The Impact of AI Technology in the Fashion Industry28:13Growth and Future Plans for Ramy Brook31:43Exploring New Product Categories and Markets37:12The Importance of the Team and Financial Oversight38:21Potential Expansion into Brick-and-Mortar Stores42:23Rapid-Fire Round: Celebrity Guests, Favorite Designers, and MoreHosted by Ausha. See ausha.co/privacy-policy for more information.

19 Juni 202436min

In this episode first aired May 8, 2023, Ken sits down with Louisa Serene Schneider, Founder and CEO of Rowan, a company that offers safe ear piercings exclusively by licensed nurses. Louisa shares her journey from being a hedge fund analyst to launching Rowan in 2017 and raising over $35 million in venture funding. Join Ken as he dives into Louisa's journey and learn how she turned her passion for creating a safer ear piercing experience into a successful business venture!Key Takeaways from this interview include:1.    Unique Business Idea and Inception: Louisa's "aha moment" for starting Rowan came from her research and personal experiences, noticing the lack of safe and reputable places for ear piercing. This led to the founding of Rowan, a company that prioritizes safety by using licensed nurses for ear piercings.2.    Growth and Expansion: Since its inception in 2017, Rowan has rapidly expanded, with 25 studios expected to be open soon and plans to reach 35 by the end of 2023. The company has successfully scaled across various locations, including major cities and diverse areas, proving its business model's adaptability and appeal.3.    Pivot from Target to Standalone Stores: Initially, Rowan offered services within Target stores but later pivoted to standalone stores due to operational challenges and better performance metrics from their own locations. This strategic shift allowed Rowan to focus on its core business and optimize customer experience.4.    Financial Performance and Profitability: Rowan's stores have shown impressive financial performance, with some achieving break-even points in well under a year and generating strong sales per square foot. Although the company is currently profitable at the unit level, growth expenses mean that overall profitability is still a work in progress.5.    Future Growth and Potential: Rowan is considering various growth strategies, including international expansion, partnerships, and potentially exploring new services like nose piercings. The company remains focused on expanding its footprint while maintaining high standards of safety and customer satisfaction.6.    Value of a Strong Board: Louisa emphasized the importance of assembling a great board of directors. She highlighted members like Tracy Gardner, Anna Badell, and Mike Bifano, each bringing unique expertise and support to the company. Having knowledgeable and candid board members is crucial for a company's success.7.    Inspirational Leaders and Companies: Louisa admires various leaders and companies for their innovative and resilient business models. She mentioned Berkshire Hathaway for its straightforward acquisition strategy, the revival of Banana Republic, and brands like Lululemon and Hermes for their excellence in their respective markets.8.    Learning from Challenges: Reflecting on her experience with Target, Louisa discussed the importance of learning from business challenges. While the partnership didn’t end as envisioned, it provided significant brand recognition and valuable insights about the company. The experience highlighted the need to adapt and make informed decisions despite having imperfect information.9.    Technology and Retail: Louisa shared insights into the tech stack Rowan uses, including Shopify for e-commerce, NetSuite for ERP, and Gorgeous for customer service. She highlighted the importance of choosing the right technology platforms early in a company's development to enhance customer experience and operational efficiency.10. Pragmatic Approach to Innovation: Louisa discussed the pilot program for virtual try-on technology, weighing its benefits against its costs and feasibility for their current scale. She concluded that while the te...

11 Juni 202441min

Ken sits down with Hali Borenstein, CEO of Reformation, for this episode of The Retail Pilot - Leaders & Legends.BioHali Borenstein is the CEO of sustainable fashion brand Reformation. Hali has been with Reformation since 2014, when she joined the company as Director of Merchandising, and most recently served as President of the company prior becoming CEO.Under Hali’s leadership, Reformation has grown to 1,000 team members, over 40 retail locations and its international business has more than tripled. She has also overseen significant category expansion and product innovation during her tenure, establishing Reformation as a day-to-day wardrobe staple. Hali has accelerated the brand’s progress toward its lofty sustainability commitments, including Climate Positive by 2025 and a new commitment to be fully Circular by 2030.A native of Miami Beach, Florida, Hali received her BA from Duke and her MBA from the Stanford. In addition to her role at Reformation, she serves on the Board of Directors for Carter’s Inc. Hali currently lives in Los Angeles with her husband and their two daughters.SummaryHali Borenstein, CEO of Reformation, shares her journey in the retail industry, the growth of Reformation, and the unique store experience. She discusses the impact of a major investor, the company's growth strategy, and the innovative technology used in Reformation stores. In this conversation, Hali discusses Reformation's commitment to sustainability, their approach to sustainable fabrics, factory partnerships, circularity, vintage products, and marketing strategies. She also shares insights on leadership, mentors, and lessons learned from past decisions.TakeawaysHali's background in retail and her journey to becoming the CEO of ReformationThe impact of a major investor on Reformation's growth and expansionThe unique store experience and innovative technology used in Reformation storesReformation's mission is to bring sustainable fashion to everyone, and sustainability is at the core of their business practices.The majority of Reformation's products come from sustainable materials, and they are committed to minimizing the use of non-sustainable fabrics.Reformation's factory partnerships, commitment to circularity, and vintage product offerings align with their broader mission of sustainability.The company's marketing strategy focuses on building great content, brand awareness, and collaborations with influential figures and brands.Hali's leadership style is influenced by various mentors and lessons learned from different leaders, emphasizing the importance of asking questions and seeking expertise when needed.Chapters00:00Journey to Retail CEO03:10Impact of Major Investor10:41Innovative Store Experience and Technology13:34Growth Strategy and Expansion25:52Sustainable Fabrics and Circular Economy32:02Vintage Products and Circular Business Model34:44Innovative Marketing Strategies40:21Lessons in Leadership and Decision-MakingKeywordsretail, Reformation, CEO, growth strategy, technology, store experience, sustainability, investor, expansion, sustainability, sustainable fashion, supply chain, circularity, vintage, marketing, leadership, mentors, decision-makingHosted by Ausha. See ausha.co/privacy-policy for more information.

4 Juni 202445min

Ken Pilot conducts his second interview with Chris Burch, Founder of Burch Creative Capital, for this episode of The Retail Pilot.· Diverse Business Ventures: Chris Burch's company, Burch Creative Capital, is actively involved in multiple industries including hotels, real estate development, prefab building, technology, and retail. He highlights an innovative project in Boston where they are constructing low-income housing using prefabricated materials in collaboration with the Public Housing Authority.· Prefab Housing Innovation: A significant project discussed is the construction of an 11-story building with 240 apartments using prefabricated materials. This method improves quality control, speeds up construction, and is beneficial for workers. The project, named Lab 9, is unique and has potential for expansion.· Hotel and Hospitality: Burch's hotel, Nihi, off the coast of Bali, has received numerous accolades and is known for its unique, community-focused experience. Burch is expanding his hospitality ventures with a new project in Costa Rica, emphasizing authentic experiences and community involvement.· Green Lane Salad Chain: Burch introduced a new salad chain, Green Lane, offering fresh, affordable salads through a drive-through model. The business has received positive feedback and is expanding rapidly with plans to roll out more locations. The chain maintains a focus on value, quality, and customer satisfaction.· Fashion Industry Involvement: Burch is involved in several fashion brands, including STAUD, Rowing Blazers, Danielle Guizio, and Solid and Striped. Each brand is at different stages of growth or turnaround, with a focus on affordability and customer engagement. Burch emphasizes the importance of operational efficiency and strategic pricing in the fashion industry.· Investment Philosophy and Approach: Chris Burch invests in businesses with momentum and potential for significant growth. He prefers to partner with businesses, offering not just capital but also operational expertise, which gives him an edge over traditional private equity funds. He looks for companies with demand and potential, even if they are currently struggling, like Rowing Blazers, which had strong brand perception but was facing operational challenges.· Involvement and Value Addition: Burch's level of involvement varies depending on the needs of the business. He can provide strategic vision or get into detailed operational aspects if necessary. He emphasizes the importance of building a solid management team and working directly with entrepreneurs to maximize business potential.· Preference for Control and Strategic Planning: Burch prefers to have significant control over the businesses he invests in, avoiding situations where board control could impede his influence. He focuses on long-term strategic planning, aiming to envision where the business will be in ten years and working towards that vision.· Vision for New Ventures: Burch is interested in integrating supply chain and luxury experiences into new markets, particularly in housing, hotels, and hospitality. He is exploring the development of a new, unique hotel concept in Hialeah, blending luxury, entertainment, and wellness. He believes the future of hospitality lies in creating spaces that offer both high-energy entertainment and serene relaxation.· Lessons Learned and Investment Criteria: Over his career, Burch has learned the importance of separating emotionality from investment decisions and the critical role of hiring competent CEOs. He tends to sell his investments early, which has been both a benefit for peace of mind and a potential downside in terms of missed growth opportunities. He looks for substantial stakes in companies, p...Hosted by Ausha. See ausha.co/privacy-policy for more information.

28 Maj 202434min

Ken Pilot interviews Danielle Bernstein on this episode of The Retail Pilot podcast.Danielle is a native New Yorker and fashion influencer turned business mogul. She has a dedicated fan base of over 3.3 million followers and counting across her social media platforms. Danielle started her internationally recognized blog in 2010 as a daily dose of outfit inspiration for women everywhere, before growing the platform into an aspirational yet relatable home for all things coveted. Danielle has since launched her brand, Shop WeWoreWhat, a direct to consumer and wholesale business with millions of customers worldwide.Key takeaways from this podcast interview include:· Value of Early Work Experience: Danielle emphasized the importance of early career "bitch work" in building character, work ethic, and appreciation for later success. Her experiences folding clothes, steaming garments, and doing menial tasks gave her valuable perspective and helped shape her career.· Adaptability and Innovation in Career Development: Danielle's journey into fashion was unplanned. Initially interested in event planning and nightlife, she pivoted to fashion during college. Her ability to adapt and innovate, particularly with the launch of her street style blog "We Wore What," showcases the importance of seizing new opportunities and being an early adopter of social media.· Authenticity and Risk-Taking: Danielle discussed the importance of authenticity in her personal and professional life. She highlighted her willingness to take risks and pursue what she wants, whether in her love life or business ventures. This proactive and fearless approach has been crucial to her success.· Building a Diverse and Inclusive Brand: The "We Wore What" brand caters to a broad demographic, with price points under $200, ensuring accessibility. Danielle's commitment to maintaining a high-low mix in her wardrobe reflects her belief that style isn't about expensive labels but about creativity and personal expression.· Long-Term Brand Partnerships and Influencer Integrity: Danielle values long-term partnerships over one-off deals, which she believes build trust with her audience. She advises other influencers to adopt a similar approach, focusing on authentic, enduring collaborations rather than short-term financial gains. This strategy has helped her maintain credibility and longevity in her career.· Creative Process and Inspiration: Danielle Bernstein elaborates on her creative process, highlighting the importance of data-driven design based on past best-sellers, customer feedback, and personal inspiration from everyday items and runways. She emphasizes "smart designing" by reinventing successful styles to create new products.· Controversy and Resilience: Addressing past controversies regarding accusations of copying designs, Danielle firmly denies these claims and underscores the rigorous, multi-layered process her design team follows to ensure originality. She reflects on how facing cancel culture has made her stronger as a leader and business owner.· Campaigns and Storytelling: Bernstein discusses the significance of themed collections and destination-based photo shoots in creating a compelling narrative for her brand. Locations like St. Barthes and Italy are chosen to enhance the storytelling aspect of her collections, making the process engaging for followers and customers.· Influencer Marketing and Brand Strategy: Danielle notes the shift in influencer marketing towards a more results-oriented approach, where brands focus on monetary ROI. She points out that longevity in the industry requires filling a unique market niche and having the ability to sell products effectively....

20 Maj 202449min

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...

7 Maj 202438min

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.

30 Apr 202439min

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...

23 Apr 202442min