George Minakakis’ Post

Unbridgeable chasm between great products and retail shelves widened, creating an unforgiving marketplace. Ross Mackay, veteran founder of Daring and Cadence, is handing us the blueprint. No fluff, just cold-hard strategies to command that shelf space we've been chasing. Ross knows the brutal reality: - Over 40,000 stores nationwide validate his know-how. - Actionable insights that are anything but rocket science, but damn effective. Creating a demand-driven brand from the start? It’s your only cushion when the water gets rough: - First step: Identify the pulse of consumer desires, not wants—because those don't pay the bills. - Second step: Dialing in product uniqueness. You've got to differentiate to stay relevant. - Third step: Relentless—and I mean relentless—focus on quality and consistency. Expect to grind. It’s not optional. These aren't just tips, they're survival tools for navigating the minefield of retail. Ignore them, and you might as well pack it up now. Retail space is, and always will be, about more than just the product—it's the story, the pitch, the execution. And if you can’t match the ferocity of Ross’s lineage, well, good luck. https://lnkd.in/emdgfXDV

A new business model revolving around wholesale and e-commerce is to be established in the region, according to the update. Part of this new business model includes optimising the company's structure, as well as setting up a more flexible and scalable European distribution centre. Image: Courtesy of Esprit 𝐄𝐬𝐩𝐫𝐢𝐭 '𝐬 𝐑𝐞𝐛𝐫𝐚𝐧𝐝𝐢𝐧𝐠 𝐄𝐟𝐟𝐨𝐫𝐭𝐬 𝐒𝐭𝐮𝐦𝐛𝐥𝐞: 𝐖𝐡𝐚𝐭 𝐖𝐞𝐧𝐭 𝐖𝐫𝐨𝐧𝐠? ⁣⁣ Retail giant Esprit faces an uncertain future after its ambitious rebranding campaign failed to gain traction. The company is currently seeking new investors after filing for insolvency in Europe and closing its US stores. ⁣ Rebranding aimed to recapture Esprit's 1980s glory days. The strategy involved new collections, marketing campaigns, and store openings in North America. 𝐂𝐨𝐧𝐬𝐮𝐦𝐞𝐫𝐬 𝐰𝐞𝐫𝐞𝐧'𝐭 𝐫𝐞𝐜𝐞𝐩𝐭𝐢𝐯𝐞. Sales continued to decline, leading to layoffs and store closures. ⁣ 𝐋𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 𝐢𝐦𝐩𝐚𝐭𝐢𝐞𝐧𝐜𝐞 𝐢𝐬 𝐛𝐥𝐚𝐦𝐞𝐝. Some former employees say the company's owners prioritized a quick turnaround for a potential sale, leading to rushed decisions. 𝐋𝐚𝐜𝐤 𝐨𝐟 𝐫𝐞𝐭𝐚𝐢𝐥 𝐞𝐱𝐩𝐞𝐫𝐭𝐢𝐬𝐞 𝐜𝐢𝐭𝐞𝐝. Critics say the leadership's background wasn't ideal for navigating the complex retail landscape. 𝐊𝐞𝐲 𝐥𝐞𝐬𝐬𝐨𝐧𝐬 𝐟𝐨𝐫 𝐟𝐚𝐬𝐡𝐢𝐨𝐧 𝐛𝐫𝐚𝐧𝐝𝐬 𝐜𝐨𝐧𝐬𝐢𝐝𝐞𝐫𝐢𝐧𝐠 𝐚 𝐫𝐞𝐛𝐫𝐚𝐧𝐝: Focus on long-term strategy. Rebranding is a marathon, not a sprint. ⁣ Understand your audience. Don't get lost in nostalgia; cater to today's consumers. Experienced leadership is crucial. The right team can make or break a turnaround effort. ⁣ #Esprit #retail #rebranding #BusinessModel #fashionbusiness #Linkedinnews

“Investors and Retailers often want too much too soon.” Christian Alexander Kuntze, the founder of NEXXT IN RETAIL, critically examines the expansion strategies of large and small companies. He presents the top 5 mistakes to avoid in retail store expansion. His most important advice before any expansion is: Know your DNA! #retail #expansion #shoppingcenter #retailrealestate #placemaking

Retail is changing, and companies are desperately looking for ways to survive. In 2019, Dame Sharon White was appointed Chair of the John Lewis Partnership. She will not be renewing her contract in 2025. An excellent leader and civil servant, she had no retail experience. From the beginning, she announced that the Partnership would undergo changes and explore other possibilities/businesses, such as rental and financial services. To cut a long story short, the Partnership is still struggling. At the same time Marks and Spencer, their main competitor, charged ahead under the leadership of the current CEO, Stuart Machin. Machin joined the retail management program at Sainsbury's when he was 18 and has stayed in retail since. Two principles on which retail, especially high-end retail (my area of expertise), was built are location and distribution. Neither is relevant any longer. The location is now the Internet, and desirable brands are leased. Unfortunately, because business was good for many years, no one thought about a vision (just collecting good brands and securing some exclusive distribution was enough). To have a vision is good- it's simple: if you have one, you can match it with a customer who has the same vision. A question for people who work in fashion brands wholesale and travel to stores: If the floor of a leading department store (or multi-unit specialty store) is extracted (with merchandise) and put in an empty room, how many stores would you recognize? I would probably recognize only Beams (170 doors), maybe Webster (but it's more like a big boutique). When you have an image that is not well-defined, it becomes an issue in the current retail environment. Logically, companies are looking for additional business models (John Lewis). With the growth of the "marketplace" concept (which is more of an online "rental" business than retail), we are witnessing a new stage. Here is the reason I'm writing this - a famous American department store is converting one of its flagships into a "physical marketplace" - essentially a mall. There are a few successful malls in the US, usually a combination of location, the vision of the owners (like Bal Harbour), and the employment of experienced retail agents. Many would say that this model has been working for stores like Le Galleries Lafayette or the majority of department stores in Japan for years. However, the American retail landscape is a little different. Mall culture is the strongest here, and "experience" is one of the main reasons to visit. Contrary to mall management, American retailers are merchants. It will be interesting to watch the "physical marketplace" concept. Will merchants be able to adapt? Many questions still need to be answered. #wwd #bof #fashionretail

Are you considering taking your retail business to the next level and expanding its horizons? 🚀 This article dives into strategic ways you can scale up for success: - 10 strategies for scaling, from new locations to product offerings - Insights on leveraging data, loyalty programs, and franchising - Tips on tapping into niche markets and diversifying sales channels Discover how innovative brands like Birchbox and LifeLine Repairs have successfully implemented these expansion ideas. Time to grow your retail business smartly! 💡🛍️ https://lnkd.in/gfCmT_DZ

Step Inside "The Target Story": How did Target transform shopping into an addictive experience? This compelling read takes you behind the red carts and stylish aisles to reveal the secrets behind Target's success. From exclusive designer collaborations to its commitment to community and seamless blend of in-store and online shopping, discover how Target became more than just a store—it became a part of American culture. Perfect for enthusiasts of retail, design, and business strategy looking for inspiration on creating meaningful and lasting consumer connections. 🛒✨ #Retail #Innovation #BusinessStrategy #TheTargetStory #Target #Entrepreneur #SupplyChain #Logistics #Operations #Procurement #Warehousing #Transport #MarketingStrategy #Pricing #GoodReads

I find this interesting and, perhaps, all to common. It just might be the "bright shiny object" strategy. Digital Brands believes that successful consumer-facing brands will have three legs -- retail/stores, e-com, wholesale. Makes some sense. But here's the thing that doesn't make sense to me -- this company saw it's operating profit decline by 40% in it's last quarter (ps -- it is not profitable with it's existing business). It looks like it has no experience running retail stores. Running stores isn't so hard -- running stores successfully and profitably, now that is really hard. So, the bright shiny object? As their board "explores strategic alternatives" they shout out their new shiny strategy about retail. Will anybody buy it? https://lnkd.in/gjM6Kqe9

🌟 Celebrating Success: Next, a brand often described by many as "ordinary" with a Brilliant Business Model! 🌟 I've had the pleasure of working with Next for years, and their success story in these turbulent times is a testament to their unwavering vision and strategic investments. Here are some key takeaways from the Economist article that resonated with me: 🚚 Focus on operational excellence: Next has poured resources into logistics and technology, building a strong in-house infrastructure for its website, stock allocation, and other core operations (including some of the most efficient marketplace solutions for 3rd party Brands). This focus on efficiency has led to faster delivery times and a significant reduction in late deliveries. 🖥 Embracing digital transformation: Next's online sales have skyrocketed, with over half of their purchases now happening online. They've also invested heavily in automation, extending their next-day delivery cut-off time and streamlining fulfillment processes. By embracing new channels (their own and other marketplaces) and even collaborating with competitors to boost traffic and conversion rates, they've demonstrated a forward-thinking approach that sets them apart in the industry. 👨💻 Building a tech platform: Next's expertise extends beyond retail. They offer their back-end operations software to other retailers, similar to how Ocado provides fulfillment services for online grocers. Success isn't always about flashy headlines or overnight sensations. Next's story highlights the importance of a long-term vision, sticking to your vision, operational efficiency, and continuous digital investment. By focusing on these aspects, they've transformed themselves from a traditional retailer into a thriving conglomerate, all while staying true to their core customer base. HUGE CONGRATS! Here's to Next and their inspiring success story! 🚀 #Next #retail #ecommerce #businessstrategy #innovation #RetailExcellence

Here are some interesting stories from the world of retail for Monday, March 4: 💰 Arkhouse Management and Brigade Capital Management are raising their offer to buy Macy's by nearly $1 billion after the beleaguered department-store chain rebuffed its prior proposal as too low. 🧶 Arts and crafts retailer JOANN Stores is reportedly considering a bankruptcy filing in the coming days as part of a deal that would hand control of the company to lenders while allowing it to shed expensive debt. 👠 The D’Amelio family are bringing their footwear brand to downtown Manhattan. Dubbed D’Amelio Footwear, the brand will be featured in a pop-up in partnership with Shopify from March 8-10. 📺 Convenience store chain Wawa, Inc. has unveiled Goose Media Network, the convenience retailer’s retail media platform, according to a company announcement this week. 👗 Compared to the highs of 2021 and 2022, luxury brands and fashion retailers have seen slowing sales. Many are now slashing costs and closing stores to reach profitability. 🏥 CVS Health, the nation’s largest pharmacy chain with more than 9,000 locations, has been fined more than $1.5 million by Ohio regulators over problems connected to understaffing and patient safety, officials said. 🇨🇳 Chinese retailers are attracting more and more US consumers by offering cheaper products. But a group of 40 lawmakers has asked Homeland Security Secretary Alexander Mayorkas to crack down on the de minimis trade. 💻 More than a decade ago, when online retailer Zulily was getting off the ground, it had the culture, chaos and capital of a high-flying startup. But Zulily’s end came roughly 13 years after it started, notes The Seattle Times. 💄 German beauty retailer Douglas has announced plans to pursue a €1.1bn IPO on the Frankfurt Stock Exchange. The IPO, subject to capital market conditions, is expected to be completed before the end of the first quarter. 🇬🇧 The Body Shop has admitted to breaking UK employment law by sacking hundreds of employees without notice or redundancy packages. The sudden mass-firing has left many employees in financial distress. 🍽 Busy restaurants have a message for customers: Come dine with us. Leave your extra friends at home. The eateries want the business, but with ongoing staffing shortages, gangs of eight or even six are just too much work. 🥞 Dine Brands Global is looking into launching dual-branded Applebee’s-IHOP restaurants in the U.S. CEO John Peyton said the company is considering bringing the joint restaurants to the US after postive international trials. 🍿 “Dune: Part Two” jump-started moviegoing in North America after a dismal start to the year. The science-fiction sequel sold an estimated $81.5 million in tickets in the United States and Canada from Thursday night to Sunday. #retail #retailnews #economy #DailyRetailNews

Setting up your own #MarketStall is a brilliant way to launch your #BusinessIdea in a dynamic and #cost-effective environment, without the heavy #expenses involved with establishing a #retail store.