Alexander Wang LLC’s Post

Diving into the world of Saks & Neiman Marcus Group possibly merging. Retail is pretty broken, at least in the world of “lifestyle.” Lauren Sherman at Puck breaks down some top-level ideas about the state of affairs in the story linked. “It’s all about extracting value. And maybe that’s the real lesson about what works in the industry these days.” This statement from Lauren concerns Richard, the chairman of Hudson's Bay Company, who owns a host of retailers globally. I had the opportunity to sit across the table from Richard and his entire executive team across all of those brands when I was running innovation at J.Crew. We met in a boardroom above a large real estate development in lower Manhattan. This was precisely when he sold the Lord + Taylor building to WeWork, making $850M. When I realized that the entirety of the work we were discussing and everything everyone involved was doing was merely filler for his macro high-risk/high-reward real estate plays, I was both shocked and intrigued. Considering the location it was a very “Working Girl” moment. Five years later, there has been so much change that the entire world has pivoted on its axis, it is disappointing to read that absolutely nothing has changed here - the core businesses and the brands that supply these real estate models are in significant part not viable, robust business models on their own or at all in a lot of cases - they only work as pieces of the lifestyle retail puzzle. A few, mostly older, mostly white, mainly men, control all of this and have built these layered business model mazes on the back of strategies that do not consider stakeholders - only stockholders. These people are not in the delight business. They’re in the how can we create silos protected by legislation to enrich ourselves even more business. (Sound familiar, New York AG Letitia James) Not paying your suppliers to the tune of millions of dollars when you have billions at your disposal is not building anything; it’s just EXTRACTION. I have lived this story myself with Saks when I sold Geren Ford to them, and I have recently heard first-hand accounts about brands pulling favors with friends of execs to get paid so they don’t go under. WE NEED NEW RETAIL MODELS & TRANSPARENCY. Stakeholder capitalism needs to surface as a value consumers focus on and reward brands and retailers for adopting the principles of. I promise the greedy “money first at all costs” people behind these destructive business models will pivot to meet the moment - but not until consumers force them. Let's go get the future!

When Kim Kardashian first announced her PE firm, I wrote about it on here...and the responses were, um, well....let's go with problematic. So let's try it again and hope for a better result! At the time, I was curious how Kardashian would use her fame and platform in terms of businesses she invested in. Would the companies get her as a spokesperson for free? Would the purchase price be lower to reflect that? Would that potential exposure be a value add in a competitive bid. We still don't have answers to those questions, but Kim has shown this isn't a joke. She has hired a bunch of employees from other PE firms and now has added a pretty big name as an operating advisor (Angela Ahrendts of Burberry and Apple). I'm still curious to see what their first investment will be and how SKKY Partners will differ (or won't) from other firms. Given that SKIMS recently passed $4 billion in valuation, I still argue that we should not underestimate what might come from this venture. #privateequity #celebrity https://lnkd.in/ewx4V4hy

Announcing our 2024 Economic Advancement Report, showcasing the commercial and cultural leadership displayed by entrepreneurs in the BrainTrust Founders Studio community! This year’s report is further proof that American shoppers across all races and ethnicities are buying more beauty and wellness products created and sold by Black founders, driving sales, retail traffic and jobs: ↗️ Commercial leadership: $142.6 million in collective sales ↗️ Cultural leadership: Who bought? Basically everyone. Many Black-led companies sold more products to Asian, Caucasian and Hispanic customers combined than to Black customers. See CreatorIQ data. ↗️ Product leadership: 39,000+ product SKUs sold, up from 4,000+ last year. ↗️ Retail leadership: 47,000+ retail “doors,” up from 23,000+ last year. ↗️ Ally leadership: As venture funding to Black founders hit a three-year low, retailers and some key LP communities emerged to partner with underrepresented funders and founders. ↗️ Entrepreneurial leadership: Black founders are openly discussing plans to sell their companies, create wealth and give back to the community. #BrainTrustFoundersStudio #2024EconomicAdvancementReport LAMIK Beauty MYAVANA thirteen lune Pressed Roots CurlMix CreatorIQ https://lnkd.in/g4mVpuua

"The list of private-equity or VC takeovers of a retailer that translated into success is short," says Mark Ryski, Author, CEO & Founder of HeadCount Corporation. "The Body Shop is another example. And while private equity masters and retail operators rarely have alignment on objectives, I don’t think we can blame The Body Shop’s current situation all on private equity. Creating a concept like The Body Shop that achieves world-wide success is truly magical, and that’s what Anita Roddick did in the 70s. However, maintaining the magic is hard to do, and The Body Shop lost it’s magic. This sad outcome for The Body Shop is a good reminder that the market never sleeps, new competitors are around every corner and you’re only as good as your last success. The Body Shop rested on it’s laurels and the acquisitions/private equity just muddied the water." Check out more insights from one of the retail industry’s leading experts - https://buff.ly/3qRfPx2. More great comments on this topic by RetailWire's BrainTrust experts including: Neil Saunders, Rachelle King, Gene Detroyer, Jeff Sward, Mark Self, Carol Spieckerman, Brandon Rael, David Biernbaum, and Mohamed Amer, Ph.D.

Do Won "Don" Chang and his wife, Jin Sook, moved from Korea to California in 1981 with hardly any resources. Chang worked various jobs, such as gas station attendant and janitor, to support his family. Observing the success of those working in the garment industry, Chang and Jin Sook ventured into retail. In 1984, they opened their first clothing store, "Fashion 21," in Los Angeles. Strategic growth: Despite modest beginnings, Fashion 21 was a quick success, prompting the couple to expand. They rebranded their chain as "Forever 21" and opened new stores every six months in the United States, until they reached a worldwide presence with more than 600 stores. Family-owned business: Forever 21 remains a family business, with Chang as CEO, Jin Sook overseeing merchandise design and his daughters managing various aspects of the company. in fact in one of his speeches he made the following clear: "For me, family is the most important thing. When people talk about the American dream, they talk about a better life. However, if the business is doing well but your family is broken, to me that's not success." Recipe for success: Forever 21's success is attributed to its low prices, its commitment to staying on the cutting edge of fashion and its agility to adapt to changing trends. Chang emphasizes customer focus and timely execution as key factors. Despite its immense success, Chang keeps her feet on the ground and values the immigrant narrative behind Forever 21, considering it a symbol of hope for those who start small. #casestudy #forever21

Barbenheimer was one of 2023's biggest trends and even 5 months later, Margot Robbie and Cillian Murphy are still doing press coverage about it. The trend was so popular that Barbie and Oppenheimer overtook the 'Avengers' as the biggest summer box office sensation - an incredibly impressive achievement. Did you join the trend and watch the double feature? Let us know in the comments 👇 #Barbie #SocialMedia #Trend #Barbenheimer #Oppenheimer #MargotRobbie #CillianMurphy

Once again a (very) delayed celebratory post! In 2023 we launched on Nordstrom and it was truly one of the best moments of founding and running BONBONWHIMS. ❤️ 2024 will be full of ups & downs, highs & lows -- and let's be real, tons of humbling challenges ahead as we've all been seeing in retail across the board. But I've personally learned that in times of crisis, there's almost always a corner to turn. As usual, would love to connect with any fellow founders out there. My inbox is open! #entrepreneurship #startup #nycbusiness

Not having focus is blocking you from getting beyond 7-9 figures. What is your North Star? Identify what matters the most in your business and see your team hit milestone after milestone. I so appreciate Katia Beauchamp, cofounder of Birchbox and CEO of Beckham Beauty, sharing this important lesson with our Pinnacle Global Network. When you’re clear with your goals, your team will understand that too. And there’s no other way to go but up! #scaleyourbusiness #successbeyond7figures #scaleit

What a week it was! 🌟 Another whirlwind of excitement at the Magic Fashion Show, held at the Las Vegas Cinvention Center. 😅 Exhausted but oh-so-worth it! The bustling energy, the endless rows of dazzling exhibits, and the tireless pursuit of opportunities made it unforgettable. I had the incredible chance to assist one of my clients in breaking into the US market, securing new contracts, and landing lucrative licensing deals. 🌎💼 It’s moments like these that remind me why I love what I do – witnessing businesses grow and thrive. On top of that, I scored big with the discovery of new clients for one of the agencies I’m consulting, forging partnerships that promise exciting ventures ahead. 🚀 The connections made in the fashion world were nothing short of amazing – meeting talented individuals who share a passion for creativity and innovation. 🤝✨ I’m filled with gratitude for the opportunities and the fantastic people I’ve encountered. Here’s to another successful chapter in the journey of helping businesses soar! 🥂 #MagicFashionShow #BusinessGrowth #businessdevelopmentconsultant #tradeshowmarketing #demandgenerationstrategy