Echelon’s Post

Let’s talk about GRIT! In the rapidly evolving landscape of luxury retail, exceptional leadership is more crucial than ever. Leading in luxury retail goes beyond managing operations and ensuring customer satisfaction; it involves creating a brand experience that deeply resonates with discerning clientele. Exceptional leaders in this sector are visionaries who inspire innovation, foster a culture of excellence, and navigate the complexities of the luxury market with strategic acumen. A critical element that defines these leaders is GRIT—a powerful combination of passion and perseverance aimed at achieving long-term success. GRIT in luxury retail leadership is about maintaining an unwavering focus on the brand's vision while persistently pushing the boundaries of creativity and service. It is the relentless pursuit of excellence that enables leaders to transform challenges into opportunities, ensuring their brand remains at the forefront of the industry. In the context of luxury retail, GRIT influences leadership by instilling a forward-thinking mindset that embraces change and innovation. Leaders with GRIT understand that maintaining a brand's prestige requires continuous effort and adaptability. They lead by example, demonstrating resilience and a commitment to quality that inspires their teams to uphold the highest standards. Furthermore, exceptional leadership in luxury retail encompasses business development and evolving client relationships. Leaders with GRIT are adept at identifying and seizing new market opportunities, ensuring the brand's growth and relevance. They understand that building lasting relationships with clientele involves more than just transactions; it requires creating personalized, memorable interactions that foster loyalty and trust. This dedication to excellence permeates every aspect of the brand, from product development to customer service, ensuring a consistent and exceptional brand experience. Additionally, exceptional leaders recognize that employee development and retention are integral to business success. By investing in their teams through continuous training and development, they increase productivity and foster a motivated workforce. GRIT-driven leaders create an environment where employees feel valued and empowered, which not only enhances their performance but also contributes to a positive and dynamic workplace culture. In essence, exceptional leadership in the luxury retail sector is intrinsically linked with GRIT. It is the embodiment of persistent effort, unwavering determination, and a passion for delivering unparalleled experiences. Leaders who harness the power of GRIT not only achieve their goals but also elevate their brand's reputation, drive sustained growth, and foster a loyal and highly productive team, ensuring long-term success in the highly competitive luxury market.

L Catterton, a leading consumer-focused investment firm backed by LVMH, has recently acquired a majority stake in Stenders, a renowned Latvian bath and body care brand. Despite China's current consumption slowdown and reduced foreign investment, this is L Catterton's fourth investment in China over the past year, with total investments amounting to USD200 million. Managing US$34 billion in assets, L Catterton’s impressive Asia portfolio includes prominent brands like Birkenstock and Crystal Jade. Established in 2001, Stenders operates more than 300 stores in 20 countries. China remains the brand's largest market, with a remarkable 20% annual sales growth over the past four years. This aligns with the premium bath and body care sector's 14% annual growth in China, which is projected to hit US$1.2 billion by 2028. With L Catterton's proven expertise and global network, Stenders is now poised to meet the rising global demand for premium and natural products. Are you an SME owner eager to scale your business to fast-track growth? Join us at our upcoming IPO3 event to discover how to position your company to capture emerging market opportunities and leverage global trends for success! Happening on... 📅 8 October 2024 ⏰9am to 1pm Discover how to: 1.Maximise your business valuation. 2.Generate today's cash flow from tomorrow's profit. 3.Continue to increase your share price post-IPO. Register via this link to secure your seats at: https://lnkd.in/gbkJpnib Whatsapp to 82227413 for further enquiries. #PIFCapital #capitalmarkets #IPO

This was I suppose inevitable at some point. It is fantastic to see that a brand like Hotel Chocolat, that has stuck relentlessly to its core principles and values, and committed so steadfastly to a physical retail proposition across the UK, be so successful in terms of generating a quite remarkable valuation (£534m or £375p a share, over twice yesterday's share price). This does raise serious questions about the future trajectory of the business and these previously mentioned principles and values. Mars clearly sees the value here as a premium D2C opportunity, not I suspect for the glorious network of over 130+ stores and kiosk it has in towns and transit locations across the country. With HC it is not just about the product, but the experience and service that comes with it - livening up many a dull town centre. Mars isn't well known for its physical retail and I hope this move will still allow the brand to continue to do what it does so well. Hotel Chocolat also plays heavily on the provenance of its ingredients and sustainability factors - hopefully in this Mars will also allow it some breathing space or perhaps even pick up some ideas itself. It will be also interested to see what this means for the brand globally. I know the team have worked hard to grow the international presence of the brand but there was a lot of damage done last year in its ambitious attempt to crack Japan without the critical support of a local partner. This is an important case-study on the importance of partnerships and why direct investment isn't always the right course to take, especially in Asia. There are some loose parallels here to when Dame Anita Roddick sold TheBodyShop QR to L'Oréal in 2006. It will be interesting to see how the retailer fares in comparison.

International expansion is a long and complex road to venture down for any brand, and there are plenty of ways to enter new markets! Concession stores and pop-up shops are a great way to enter a market and test your brand's presence, but nothing compares to a fully fitted-out flagship. However, the level of investment differs hugely between these options, so how do you know where to start with your brand? PANGAIA entering the UK market is a great example of a successful and sensible approach to international expansion. In 2021 Pangaia opened a pop-up shop in Selfridges, the next year the brand opened a permanent concession stand in Selfridges, and now in 2024, they have opened its first standalone flagship store on London’s Carnaby Street. Building up their retail presence with these three stages of market entry has ensured a strong retail expansion and a successful and longevous UK presence. The growth of their UK offering stayed in line with their audience and their demand, matching Pangaia's commitment and investment to the return on this investment. Running your own store has big perks. You control everything, from the location to the design, creating an experience that truly represents your brand. This personal touch can build stronger customer relationships as they directly engage with your brand over time. Building toward this flagship store allows for insight and market research to build up BEFORE such a hefty undertaking. Even more helpful? Teaming up with a local partner like Agile Retail! Read more insights into international expansion here: https://lnkd.in/etKVeXrH And if you are interested in discussing international opportunities with a member of the Agile Retail team please reach out to [email protected] #AgileRetail #InternationExpansion #ExpandFaster #Concessions #PopUps #Flagships

You may have seen that the Retail Book Club recently hosted a webinar on the topic of International Expansion. Our expert speakers shared insights into the nuances, risks, and huge benefits of global growth and expansion. Our latest blog explores some of the expertise they shared (along with much of our own) on how brands can successfully enter new markets and new geographies. Approaching international expansion can NOT be casual or 'one-size-fits-all', it is a very risky venture, but one that can pay off exponentially in the long run if done right! Find out how to minimise the risk and maximise the benefits of global store expansion here: https://lnkd.in/ezUU2z3y

LVMH flagged some concerning trends in the US and Chinese luxury markets in its first-half results. Japan is doing better, but that isn’t all good news, the owner of Tiffany & Co. and Bulgari explained. What’s behind the slowdown at these top brands? Watch here: https://lnkd.in/e9XheiHC And subscribe now to our Rapaport YouTube Channel (@RapaportYT) #RapaportMarketComment

Before I share a new partnership update, have you ever wondered how at Frasers Group we continue to grow and elevate the business? 👇 1. Goals 🎯 In a fast-paced and ever-evolving industry, staying focused on our objectives is essential. We are committed to our Elevation Strategy, with a clear focus on what we aim to achieve. We have absolute clarity on key objectives and KPIs that ladder up to our overall goal. We're making significant headway in our international expansion, and below is an example of our commitment to just that. 2. Collaboration 🤝 There's an unknown quote "Team divides the task and multiplies the success". We continue to work with industry leaders and our criteria for collaboration is that they match our commitment and growth ambitions, whilst unlocking new opportunities within their field of expertise. Today I'm pleased to announce our new collaboration with Hudson Holdings Ltd leveraging our mutual strengths in this partnership to align with our growth ambitions and further strengthen Frasers’ international footprint. 🌎 🚀🚀

Boisson Announces Restructuring Process, Shift in Operations Boisson’s Board of Directors has determined that entering into a restructuring process for the company to shift its operational focus is in the best interests of its creditors and other stakeholders. This and other difficult decisions have been made, including the decision to close all retail locations. While this is certainly disappointing, taking these actions will allow the company the opportunity to put forth a restructuring plan aimed to focus on the wholesale distribution and e-commerce divisions, which continue to operate, accepting and fulfilling orders without interruption. Like many fast-growing consumer startups, the company has faced notable financial challenges in recent months, both in ways to focus investment given the overall complexity of the business as it currently operates, and in broader macroeconomic conditions facing retail and consumer startups. Significant infrastructure, including fixed costs associated with the retail footprint and bi-coastal warehouse operations further compounded these challenges. Without a necessary restructuring plan, the company could not continue operating. Despite concerted efforts to mitigate these obstacles, the resources available were insufficient to sustain the status quo. The company extends its gratitude to all stakeholders for their unwavering support and partnership during this period of transition. The dedication exhibited by partners in nurturing their businesses and advancing the non-alcoholic beverage category has been invaluable. Looking ahead, Boisson will make best efforts to focus on the wholesale, e-commerce, and import lines of business, to support the non-alcoholic category, our growing supplier brands, and, most importantly, our customers looking for these options around the country. As the company navigates this transition, it acknowledges the potential impact on partner businesses and is committed to addressing any challenges that may arise. Open channels of communication will be maintained to ensure stakeholders are kept informed and engaged throughout this process. Boisson remains optimistic about the future and is confident that this strategic shift will position the company for sustained success in the evolving marketplace. Warm regards, Sheetal Aiyer CEO, Boisson

People like to cheer for the underdog, don't they? It's always inspiring to see local brands making it big on the global stage. I'm even more thrilled that Benjamin Barker, a Singaporean brand we invested in, made it on Tatler (https://lnkd.in/gnihj2TS) Founded in 2009 by Nelson Yap, Benjamin Barker is a testament to grace, fortitude, and is a true rags-to-riches story. If you ever get to listen to Nelson's personal story, I'm sure you will find it as inspiring as I did. In fact, it was one of the reasons why I felt compelled to back this company. What sets Benjamin Barker apart is its unique approach—melding classic menswear with European design and Japanese cutting techniques, perfectly tailored for the Asian build. This not only caters to functional needs but also provides a bespoke feel in their ready-to-wear collections. At Malayan United Industries, we are proud to be part of this journey. I like to believe our involvement is more than an investment; it's a partnership driven by shared values of innovation, quality, and taking bold steps. For example, a story that is often recounted is how my trip to the Philippines was the turning point in securing the franchisee. In a boardroom full of top management, I proceeded to demonstrate the technological wonder of our "perfect white shirt" by pouring coffee over myself to show that it is completely stain-resistant. The room went completely quiet, so I knew my party trick worked! As we continue to explore potential collaborations, we are excited about the future possibilities. #StrategicInvestment #FashionInnovation #GlobalBrands #BusinessStrategy #Leadership #ThoughtLeadership #AsianBusinessExcellence 🌏👔💼

Business families from Thailand are making waves internationally. Exactly why I do not know, but I see various Thai families being very successful abroad as multinationals, more so than, for instance, those from Indonesia. Central Group is a star in retail in Asia, with many interesting innovations. This Thai business family seems well positioned to introduce their buzzing new retail concepts to their iconic properties and department stores in UK (Selfridges) and Germany (KaDeWe). #internationalisation #asianmultinational #businessfamily #innovation