MOATS, BOATS & BRIDGES€¦ · Neckwear in London, Randa Canada, Wemco & Wembley Neckwear in New...
Transcript of MOATS, BOATS & BRIDGES€¦ · Neckwear in London, Randa Canada, Wemco & Wembley Neckwear in New...
MOATS,BOATS &BRIDGESA ROADMAP
America is over-retailed, and many of our partners are closing stores because they can no
longer justify the investment in these fixed assets. In-store, online and virtual shopping have
merged into “commerce” – a seamless experience for customer engagement. Technology,
supply chain, and consumer path-to-purchase are evolving at an accelerated rate.
Disruption is not only inevitable, it is essential. Disruption, as with forest fires, removes
overgrown obstacles and creates room for new growth.
And, new growth is already visible. From successful digital pure plays like Warby Parker and
Bonobos to Nike & Adidas’ new physical “super” stores in Manhattan, retail is flourishing
in new ways. Immersive retail experiences including in-store personalization, athletic
consultation, and basketball courts, are paramount in a way traditional stores cannot match.
Stores can now identify customers by facial recognition. Cameras, sensors and software
monitor everything customers touch, place in their basket, or return to a shelf, all while
updating a real-time, “virtual” shopping cart. When finished shopping, consumers walk out,
their account is charged, and they’re done, friction has been removed.
Historically, few retailers have been able to successfully navigate through periods of
disruption. Today, they provide a compelling destination providing great products and an
engaging experience. And successful brands must be about emotion and connection, much
more so than just nice product.
For internal use only / © RANDA ACCESSORIES 2017
“The problem is never how to get new, innovative thoughts into your mind, but how to get old ones out.”
“Disruption... is the mother of invention.”
DISRU OPTIONRanda History
Sold neckwearvia pushcart in Lower East Side Manhattan.
Sears launched their 1909 Christmascatalog.
General Store:Local merchant is your personal shopper.
Amazon Echo: Alexa becomes your personal shopper.
Ford Motor Company brought high-ways and automobiles to America. Malls and regional department stores
Department stores had to go national, or go away. Macy’s expanded. Target became a reality.
Internet blossoms. Amazon is born.
Steve Jobs launches thefirst iPhone moving shopping to our very hands - anytime, anywhere.
Randa Neckwear
SWANKTATA
Randa Luggage arrives.
Market Connect Group is born. Aquired Trafalgar.
GREATS
Established Randa Neckwear Design Center in Italy.
Created new brands, including Ryan Seacrest Distinction, added new jobs, tools and new people for our growing sourcing offices, social media specialists, e-commerce, and consumer insights.
We became America’s largest mens accessories company. Added powerful brands including Levi’s, Dockers, Columbia Sportswear and Dickies.
Aquired Woodstock Neckwear in London, Randa Canada, Wemco & Wembley Neckwear in New Orleans and Countess Mara. Opens first office in China.
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MOATS PROTECT THE CORE
We will grow our core businesses. We will build Moats to leverage, and invest in, the tools and skills we have, and to protect our industry leadership. We will invest in our core competencies, our current career development, and create barriers to entry.
BOATS ARE TRANSFORMATIVE
We will enter into entirely new businesses, requiring entirely new tools and skills. Our Boats will take us to places completely new to Randa, they will transform our company and our associates. We will acquire new tools and skills, we will create entirely new products and new business models.
BRIDGES BUILD CONNECTIONS
We will expand into adjacent product categories for our existing customers, and adjacent channels of distribution for our existing products. Bridges will leverage our skills and investments across both Moats & Boats, and will share lessons learned & best practices with our peers and teams. And our teams will need new related skills.
Randa, throughout our 107-year history, has successfully navigated through disruption.
Consistent with our hard-earned industry position is our responsibility to “lead.” We have a
three-tiered strategy, a road map to enable us to continue to act as the industry leader. We call
this roadmap...
MOATS, BOATS & BRIDGES
For internal use only / © RANDA ACCESSORIES 2017
This is your roadmap, too. You are our future leaders and we have no investment
more important than that which we make in your career and skills development.
We have several development tools for you. Use these tools to turn your talents into skills and
strengths, and to leverage your strengths into career success.
IDP. Your Individual Development Plan is a powerful tool for career training and advancement. It can
be updated, in collaboration with your supervisor, at any time during the year. Discuss opportunities,
create your own roadmap.
New to our development tool kit: Lynda.com online training.
Randa has a board advisors, you should too. Invite people inside and outside of Randa to join
“your board.” Touch base with them regularly and often. What is the perception of the marketplace,
their industry, ours, bounce ideas off of them. Increase your questions to answers ratio. Our managers
are eager to be added to your board.
MOATS: Get better at what you do best. Be a constant learner. Take online and in-person classes,
attend conferences and workshops, participate in “Leadership Circles” and other Randa career
development programs. Meet with your peers in other divisions to share best-practices. Actively listen
during customer, brand and supplier meetings. Engage in Randa Town Hall meetings. Use your IDP -
Individual Development Plan.
BRIDGES: Gain related and adjacent strengths. Reach outside of your comfort zone to acquire
new skills. Examples include crossing divisional and occupational silos, transitioning from neckwear
to belts, from design to merchandising, from forecasting to sales, or marketing to in-store services.
Gain skills in related disciplines; 3-D graphics, rapid prototyping, Powerpoint best practices,
advanced Excel pivot tables, digital marketing, social media, Six Sigma, and other tools. Meet with
your supervisor. Speak with your board. Use your IDP - Individual Development Plan.
BOATS: Boldly go where no-one has gone before. Direct-to-Consumer best practices, Artificial
Intelligence, Machine Learning, Robotics, Mass Customization, Digital-Native Vertical business
models, Wearable Technology, Advanced 3-D printer
applications and other new landscape tools. Meet with your
supervisor, talent development leaders and senior management.
Use your IDP - Individual Development Plan.
Moats, Boats & Bridges and Your Career
For internal use only / © RANDA ACCESSORIES 2017
YOUR CAREER MOATS BRIDGES BOATS
STRATEGY
SKILLS
TOOLS
CAREER PATH
Core
IDP, lynda.com,Leadership Circles
Move Within My Field & Division
Get Better at What I Do Best
Learn Related Skills Gain New Experience
Seek Entirely New Skills & Experiences
IDP, Leadership Circles, Job Postings
Move to Related Functions & Divisions
Job Postings, Speak with Leadership
New Responsibilities & New Divisions
Adjacent Transformational
CONSISTENT WITH OUR HARD-EARNED INDUSTRY POSITION, IS OUR RESPONSIBILITY TO
LEAD.