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

Retailers have often had a bad reputation in the investment world, perceived as highly competitive and frequently operating on low margins. However, behind this perception lies a business model that can be quite attractive if its footprint expansion is managed properly. From supermarkets to fashion stores, each one presents its own set of challenges and opportunities. In this post, we're going to dive into this business model to understand what may or may not make a company an interesting investment opportunity, and begin to grasp the most important parameters for understanding this business model and comparing it against its competitors. #retailers #investing #businessmodel https://lnkd.in/dnJWNRub

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

Freedom Furniture is quietly testing the M&A market after a 4 year turnaround effort led by former Harvey Norman CEO. The reported EBITDA of $10m on $400m revenue looks razor thin. But it's important to put this in perspective. The brand was loss making for a number of years prior to the Greenlit Brands takeover in 2020 with a significant investment in the brands future since. They've hired a new design team and changed 75% of the product range to better reflect Australian lifestyles and preferences. While also implementing a complete data overhaul, integrating customer data from its online and brick-and-mortar stores together to get a deeper understanding of its customers. And the changes are starting to show. Customer repurchase is at an all-time high and they've grown their loyalty membership by nearly 40%. The numbers are lean but there is a strong turnaround story. Plus the group is currently weighed down by the NZ division, who reported a $9m loss. The future of the brand depends on the ability for the omnichannel strategy to compete with cheaper pure online players like Temu & Amazon. Do you think consumers still need to see & touch furniture before they buy?

The man behind the brand. You’ve likely passed a B&M Retail store at some point. Whether it’s a massive lorry branded with the iconic logo or the neighborhood shop you frequent for everyday needs—B&M has become a staple in UK and EU convenience. But how did B&M come to be? What’s the real story behind this retail powerhouse? 🤔 It’s a story we’ve been eager to uncover. At its core, B&M is a family business, a journey of vision, persistence, and entrepreneurial grit. Simon Arora and his brother took what was a struggling local chain and transformed it into a thriving retail giant. Simon’s strategy was straightforward but game-changing: 👉 Simplified store layouts: Streamlined operations to cut costs without compromising customer experience. 👉 Value-driven pricing: Passed significant savings directly to customers, reinforcing the brand’s reputation for affordability. 👉 Targeted market expansion: Focused on underserved regions, driving rapid growth across the UK and EU. These strategic moves not only fueled B&M's aggressive expansion but also cemented its place as a top destination for affordable, quality goods. We were so impressed by Simon’s story that we’ve featured him on the cover of the very first edition of The Business Leader Magazine. Simon doesn’t often take the stage to share his insights, so we were thrilled when he said 'YES' to speaking at the Business Leader Summit this March. ♻ B&M shoppers love quality at unbeatable prices, making it a top choice for value seekers. Want a Business Leader Summit discount at B&M-level prices? Comment ‘B&M’ below, and we’ll DM your exclusive code!

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

“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

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

Spencer’s has been around since 1947. It started as a mail-order catalog. Then it became a popular store in malls across America. Today, malls are dying. Foot traffic is down. Many mall-based brands have shut down. But Spencer’s is still growing. Here’s why: 1. They know who they are. Spencer’s focuses on self-expression. They sell graphic t-shirts, novelty gifts, and nostalgia-driven products. They don’t chase trends or try to be something they’re not. 2. They connect with people. Spencer’s is more than a store. It’s an experience. Their products make people laugh, feel nostalgic, or express themselves. 3. They adapt to survive. Malls are shrinking, so Spencer’s is opening standalone stores. They are finding new ways to reach customers while keeping their in-store experience alive. The lesson: Focus on what makes your brand unique. Build real connections with your customers. Stay flexible when the market changes. What’s one way your brand is staying strong in tough times? Let’s hear it. (Excerpt from my BRANDEM™ Startup Growth OS)

STORE OF THE FUTURE You know, change has been with us throughout time, but the worldwide pandemic seemed to put change on hyperdrive.  Every timeline became compressed and long-term trends seemingly happened overnight.  It was and still is, shifting paradigms at an accelerated pace. So how do we react when it comes to designing a new store to address changing consumers?  Well, developing a Store-of-the-Future takes a lot of thought to consider all the potential elements that should be included in a go-forward operation.  Some may be “need to have” while others may be “nice to have”.  A lot will depend on your location, the competition, the consumer and quite candidly, the amount of capital you can afford to spend. This course addresses six major areas that seem to be percolating change all at the same time including:  1) product expansions; 2) technology enhancements; 3) service improvements; 4) product acquisition methods; 5) improved operational efficiencies; and finally, 6) overall store design.  This course is a must for all those that want to stay relevant in the future. Here is the link for the Store of the Future course: https://lnkd.in/g8XmAQCN Available as an individual course or as part of a company-wide program (contact me for details). #graycatenterprises #managementconsulting #conveniencestores #franchise #retail #storeofthefuture