CHECKED GROWTH: HOW 토토사이트 승인전화x’S ANGELA AHRENDTS IS STEERING THE COMPANY THROUGH A VOLATILE ECONOMY
A version of this article was originally published by Knowledge at Wharton
Since arriving at 토토사이트 승인전화x Group in January 2006, CEO Angela Ahrendts has seen the 토토사이트 승인전화x brand "purified," its luxury line diversified, its retail reach extended, and its global organization centralized and connected with a new SAP-based IT backbone.
Now 토토사이트 승인전화x is banking on these changes, particularly in infrastructure, to support the company through the global economic downturn.
"I believe our inefficiencies will now become our greatest opportunities," 토토사이트 승인전화x says. "Running our business smarter, tighter, we can pull 30 million pounds to 40 million pounds of benefits out of the business."
Founded in London 1856 by draper's apprentice Thomas 토토사이트 승인전화x and known for outfitting British military and global explorers, 토토사이트 승인전화x has evolved into a multifaceted luxury brand that has more than 300 company-owned stores and concessions in high-end department stores around the globe.
토토사이트 승인전화x, says Ahrendts, expects its all-important holiday quarter to remain "volatile and uncertain" as the global financial crisis and economic slowdown hurt even the luxury market.
A native of New Palestine, Ind., 토토사이트 승인전화x describes herself as "a born merchant" who loves to shop and had always wanted "to see the world with someone else's money."
Before coming to 토토사이트 승인전화x in 2006, she was executive vice president at Liz Claiborne, where she had been responsible for such global brands as Ellen Tracy, Juicy Couture and DKNY Jeans. She has also been executive vice president of Henri Bendel, president of Donna Karan International and president of Warnaco's Geoffrey Beene division.
Describing herself as a 50/50 split between "right brain" creativity and "left brain" logic, 토토사이트 승인전화x credits each stage of her career, and each of her mentors, with teaching her something new _ "left brain" skills from Warnaco ex-CEO Linda Wachner, the importance of getting the product right in a monogram business from Donna Karan, and managing a multi-brand company, presenting to a board of directors and talking to investors from Liz Claiborne chairman Paul R. Charron.
Admitting that she trusts her own instincts more than anybody else's, 토토사이트 승인전화x says she also has been known to approach her executive team with, "This is my instinct; now confuse me with some facts."
Ten years ago, 토토사이트 승인전화x was "a largely licensed business in the hands of distributors," Ahrendts says. It was operating in 35 countries, via retail stores, wholesale distribution and licensing, but as an organization it was "never fully integrated. In some ways, we were kind of like a $2 billion start up, with many versions of 토토사이트 승인전화x, both brand and company."
Soon after her arrival, Ahrendts named designer Christopher Bailey as 토토사이트 승인전화x's brand tsar. Bailey sharpened 토토사이트 승인전화x into "a global, high-growth ... luxury brand with a very British sensibility." The best brands "are the pure brands," she says. "The purer our message, the more compelling it is to consumers."
At the same time, Ahrendts reorganized 토토사이트 승인전화x around the principle of "brand first." Internally, she says, the brand became "a beacon around which the entire company would serve" and "a touchstone for every decision." Externally, the brand unified 토토사이트 승인전화x's product lines, advertising, public relations and online presence.
In this evolution, 토토사이트 승인전화x opted to capitalize on its core: outerwear and the classic, trademarked 토토사이트 승인전화x check, which first appeared as trench coat lining in the 1920s. Over the years, Ahrendts says, the check had become "overexposed, underappreciated and undervalued," yet it was "the highest volume, most recognized brand icon" 토토사이트 승인전화x had. "We needed a pure laser vision to elevate and authenticate this icon."
Bailey developed luxury variations of the heritage pattern _ the Mega Check, The Beat Check, Exploded Check, Haymarket Check _ while 토토사이트 승인전화x shut down 35 different product categories, each with check all over them, because she believed those products were "devaluing the icon instead of elevating it."
Given that outerwear is 토토사이트 승인전화x's top-of-mind destination category for consumers, Ahrendts says, "It simply must be the best thing we do." So 토토사이트 승인전화x has enhanced outerwear's presence on its runways, created a dedicated outerwear sourcing team and invigorated its outerwear marketing.
토토사이트 승인전화x became centralized as an organization, closing or buying its distributorships to pull businesses in-house. Almost three years ago, the company embarked on the rollout of a SAP-based network in a 50 million pounds, three-year initiative dubbed Project Atlas. Although the goal of Atlas was global connectivity to improve corporate analytics, Ahrendts says, "We're also using it as a forum to communicate" brand strategy and vision. 토토사이트 승인전화x information flows through the organization via a comprehensive intranet site, quarterly web casts by senior executives, and e-mail blasts of recent runway shows, PR events and store openings.
This approach is part of Ahrendts' work to reinvigorate 토토사이트 승인전화x culture even as the organization becomes more tightly centralized, to maintain the "entrepreneurial magic" of its distributorship-based past.
The big picture is challenging, given the global economic downturn. 토토사이트 승인전화x, whose 2007 sales were $1.67 billion, has in recent years greatly expanded its luxury offerings and the geographic reach of its retail distribution. Its merchandise mix has grown with seasonal trenches, handbags, scarves, mufflers and shoes; new (licensed) fragrances and eyewear, and entirely new categories including jewelry, belts, men's accessories and luggage. The company also introduced a 토토사이트 승인전화x Sport sportswear line and created a new children's wear product division.
The company's goal of investing in "under-penetrated" markets has meant a significant expansion. In 2008, 토토사이트 승인전화x opened new stores in Cape Town, South Africa; Delhi, India; Ekaterinburg, Russia; Baku, Azerbaijan; and Aspen, Colorado, plus a standalone childrenswear store in Hong Kong. Also during 2008, new 토토사이트 승인전화x stores opened in Kuwait City; Nashville, Tenn.; Copenhagen; Budapest; Cannes; Las Vegas (second location); Knokke, Belgium; Poznan, Poland; Jakarta, Indonesia; and Al Khobar, Saudi Arabia. Emerging markets, including China, the Middle East, Eastern Europe and Russia, have helped drive 토토사이트 승인전화x's growth.
However, 토토사이트 승인전화x, like many others, is facing the grim reality of economic downturns in Europe, the U.S. and Asia. Even with the company's emerging market gains, Ahrendts says, "You can't offset huge markets like that." In the meantime, "We will continue to reforecast flexibly, dynamically adjust ... and micromanage the business on a weekly basis before making plans going forward."
15,000개의 아티클을 제대로 즐기는 방법
가입하면, 한 달 무료!
걱정마세요. 언제든 해지 가능합니다.
HOW 토토사이트 쿠폰 FOCUS CONTRIBUTES TO 토토사이트 쿠폰 DISASTERS | 글로벌리포트 | 토토사이트 쿠폰
토토사이트 마블 글로벌리포트 | DBR
토토사이트 매입‘S REVERSE DIASPORA | 글로벌리포트 | 토토사이트 매입
인기기사
회원 가입만 해도, 토토사이트 승인전화x 월정액 서비스 첫 달 무료!
15,000여 건의 토토사이트 승인전화x 콘텐츠를 무제한으로 이용하세요.