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Stephen Rhead Presentation

How to be a successful Luxury Retailer

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Stephen Rhead Presentation

  1. 1. Stephen Rhead Luxury Retail specialist How to build a successful retail business.
  2. 2. Store management I established the concept for Bang & Olufsen UK, the concept went on to be the retail format for the rest of the world. Here are just a few ways that the concept succeeded: Excellent customer service; Coffee and pastries, polite • and friendly. Data capture; so that customer contact can be • maintained. Housekeeping; daily cleaning and do not forget back of • store. Merchandising; keep store up to date and fresh. • Marketing; In store Events, database mailings etc. • Product placement; local car showrooms, Hotels, cafes • etc. Training and coaching; weekly training and ongoing • coaching. „ Never say no, always find the solution‟; never turn a • potential customer away. Make the demonstration entertaining; “we sell • entertainment products!” These are just a few of the ways I helped to create a successful retail concept. Retail is not Rocket science, yet so many get it wrong.
  3. 3. Store planning and project management
  4. 4. Between 2000 and 2005 I planned and project managed the opening of 40 stores across the UK. Careful site selection, lease negotiation, appointment of shop fitter, shop fit management, merchandising, staff recruitment, staff training and snagging are all amongst my skills. All stores started with a basic plan, the store was then carefully designed to maximize the use of space. The way the footfall flows through the store is carefully managed allowing the customer to view all items displayed. The store design should allow for trouble-free merchandise change. The product layout should encourage sales. Constant monitoring of the store allows for easy changes, allowing a vibrant and exciting store to exist.
  5. 5. Property locations and finding the correct site With over 90 potential sites in the UK, I project managed the opening of 40 stores; Aberdeen, Edinburgh, York, Harrogate, Leeds, Manchester, Liverpool, Preston, Derby, Nottingham, Leicester, Peterborough, Lincoln, Norwich, Cambridge, Colchester, Chelmsford, Loughton, Chelsea, Kensington, Harrods, Selfridges, Winchmore Hill, Hampstead, Ruislip, Beaconsfield, Marlow, Windsor, Reading, Newbury, Southampton, Salisbury, Winchester, Bournemouth, Maidstone, Eastbourne, Wimbledon, Sevenoaks, Horsham, Kingston, Selfridges, South Molton Street and Royal Tunbridge Wells. I dealt with all aspects of these store openings including: •Property location; links with established property agent to ensure that the correct sites are secured. •Shop Fitters; Links with several UK shop fitters and ability to negotiate costs. •M&E specification. •Hidden cable solution. •Managing VM team. •Product layout to maximise sales, working with product managers. •Logistics to ensure store opens on time. •Cost management to bring project within budget. •Design ideas and implementation, based on low cost development.
  6. 6. Area management Marketing. London 20000000 Database management. 18000000 Training and Coaching. 16000000 14000000 Health & Safety. 12000000 Target led and successfully increased 10000000 regional turnover. London 8000000 Recruited staff for the London region. 6000000 Created business plans to achieve business 4000000 growth. 2000000 Niche retailing a speciality 0 Training of new area 2005 2006 2007 managers
  7. 7. B2B commercial management
  8. 8. Created documents to introduce potential UK business partners to the brand. Commercial business increased from £800k to £1.9m during the period Sept 07 – May 08. Commercial sales can help raise sales when the stores are missing footfall customers. Hotels, Architects, Interior Designers, Blue Chip Head quarters Etc. Can all add to the brand awareness along with increased sales,