понедельник, 18 февраля 2013 г.

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On exhibit were the tailor-made trunks for nobility, celebrity and the wealthy. The exhibit told the brand story rooted in travel, a phenomenon that excites the imagination with the romance of new places and people, and different cultures and experiences. What holds more allure than travel? At the show, I discovered the basis of the brand's aspirational DNA, which combines best-of-class quality and aesthetic with fashion's excitement and superior execution at

I make the comparison to Louis Vuitton for several reasons, beginning with its origins as a provider of luggage in the 1850s. In October 2010, I visited Paris (not just because I love to travel… and I especially love Paris) to see the installation of a Coach shop-in-shop at the Printemps flagship on Boulevard Haussmann, and do a store tour of Ralph Lauren's new Left Bank flagship on Boulevard Saint-Germain. While I was there, I visited the Musée Carnavalet (the museum of the history of Paris). I never quite understood the fascination and demand for Louis Vuitton until I walked through the museum's exhibit, Voyage en Capitale, Louis Vuitton & Paris.

Listening to Michael Kors CFO Joe Parsons speak at ICR on January 16, 2013 on the Kors Jet Set aesthetic—spanning wings, wheels and water—I was reminded of the brand Louis Vuitton, also rooted in luxury travel.

Is this any way to manage a Jet Set brand? Maybe, if you're looking for a quick exit.

Also, during the past eight years, Nordstrom continued to invest heavily in technology and perfect its "omnichannel" capabilities. In fact, they are widely acknowledged as being a technology leader among their peers. But, again, Blake Nordstrom, in his humble demeanor, would say the same thing: essentially, it's not about technology, it's about "Retail 101."

Now, eight years later, sales are estimated by FactSet to increase by 14% to about $12 billion for 2012 (a roughly $5 billion increase over 2004 revenues of $7.1 billion). Making these numbers even more impressive are the year-in, year-out, profitability metrics: same store sales and sales per square foot, (see accompanying chart).

I thought 'hmmm,' sounds like "blocking and tackling" to me.

The late, great Vince Lombardi, renowned coach of the Green Bay Packers from 1958 to 1968, never got confused over the concepts of "strategy" or "tactics." And he never confused his team about them either. He viewed football as a "game of inches" and the superior execution of the "basics" of the game, such as blocking and tackling. I know the Nordstrom family hails from the city of Seattle, and I know basketball was their game. And basketball certainly is not a game of inches. However, to hear Blake Nordstrom, President of Nordstrom, talk about their recent "wins," it's like listening to the ghost of Vince Lombardi, albeit at a somewhat lower decibel level.While many experts at the time cited technological initiatives for Nordstrom's huge earnings and sales gains that year, Blake Nordstrom was quoted as saying:  "I think any gains that we've had have less to do with technology and more to do with Retail 101.

I wrote an article in 2004 in which I compared Nordstrom with the Green Bay Packers at their peak between 1958 and 1968 under coach Vince Lombardi. Guess what? Lombardi's spirit lives on within the Nordstrom team, roughly 65,000 strong, and all of them "quarterbacks." To revisit the past, the opening paragraph I wrote eight years ago was as follows:

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