Page 4 - September 2020

who’s who in retail

MEETS

J. Michael

Prince

PRESIDENT & CEO OF USPA GLOBAL LICENSING INC.

Q. Given the current market conditions, have you had to alter always appreciated Michael Jordan’s way of thinking and leading, and
or re-evaluate your key objectives over the coming 12 months? secondly a business inspiration of mine, and likely many, is investor and
A. As a nearly $2bn business spanning 180 countries, we were entering philanthropist Warren Buffet.
into year three of our long-range plan for U.S. Polo Assn. that laid
out a very aggressive global growth and brand strategy. Given the Q. What do you make of social media and its prominent rise
challenges currently presented by the Covid-19 pandemic, we have in importance over the last few years, and how important do
increased our focus in the short-term around execution, managing you feel e-commerce and online activities will continue to be?
cash flow, accelerating digital, and focusing on core product. However, A. The pandemic brought new urgency to the global deployment of
we continue to work on our long-term strategy of elevating the brand, our e-commerce sites. Even when this subsides, we recognise that
pivoting to digital and growing the business. online retail will play an even larger role. We know great brands are
available in many channels of distribution (web, social, print and in-
Q. How would you say the Covid-19 outbreak has affected your store), delivered to consumers how and where they want it, with
business in the last weeks and months, and will it affect your each channel supporting the other. Retailers must adapt to how
plans moving forward? customers shop and engage with brands while also elevating the
A. We were on pace to have another record year in 2020 on all fronts consumer experience.
as the first few months of the year were very strong. Unfortunately,
starting in late March over 90 per cent of our global brick and mortar Q. What would you consider to be your career highlights?
business was shut down, negatively impacting the business. At this A. I’d say the biggest turning point for me was being part of the Global
point, in September, we are seeing the majority of our storefronts re- Financial Crisis & Recession in 2008 as a new CFO while working at
open and a strong increase in online buying due to the acceleration of Nike & Converse. I learned a variety of leadership and communication
our global digital strategy. skills during that time – how to maintain calm under fire, how to
refocus and redirect on critical issues and how to best communicate
Q. What key leadership skills do you feel are the most both internally and externally during crisis. I was fortunate to join
important in the current retail climate? USPAGL in 2017 and begin working with the U.S. Polo Assn. brand and
A. It’s most important to lead by example during this challenging time, the amazing sport of polo.
and also to use common sense and keep your wits about you even
when it’s tough. Every day presents new challenges that you could have Q. How are you feeling about the 12 months ahead?
never imagined before. This is where I believe being able to pivot and A. The next 12 months will continue to be very challenging. I believe
be flexible are also critical. I instantly went into crisis mode and looked it will take several years for the global economy and consumer
for ways to preserve cash and invest more wisely to maximise the best confidence to get back to where we were in February 2020. However,
opportunities and take care of valued employees. I feel confident that U.S. Polo Assn. will weather this storm and be
stronger in the future.
Q. As a leader, when making key strategic decisions, what
proportion of the decision do you feel is fact-based and what Q. Do you have any words of warning for the industry as we
proportion is instinctual? head into unchartered territory?
A. For me, I try to be both fact-based and instinctual regardless of A. Stay focused on the short-term while continuing to plan for the
the situation. In fact, I believe your most successful CEOs utilise both long-term. Also, manage your cash flow and refocus on the most
tools to make decisions. I also believe battle-tested experience is very important aspects of your business, nothing ancillary.
valuable in dealing with such challenging times.
Q. Any final thoughts or anything else you would like to add?
Q. Can a leader be transformational and authentic, and who A. I have just been so moved by the human spirit during this time! The
is your favourite example of such a leader? heroes and front liners out there saving lives and protecting people
A. Of course! I have known many leaders and can attest to my very has been truly inspiring. I have also been moved by my team rethinking
own mentors over the years that are absolutely both. I can offer two and re-establishing what it means to be a team while working remotely
great examples here of “famous” leaders I look up to that embody and managing our global business. Despite everyone’s lives being
both authenticity and transformational qualities. As a sports fan and completely disrupted and turned upside down, we are all trying to do
someone who has worked with world class sports brands, I have our part to make a difference.

04 RETAIL & LEISURE INTERNATIONAL SEPTEMBER 2020