Page 4 - July 2021

who’s who in retail

MEETS

Mikael Kruse Jensen

CEO OF BOCONCEPT

Q.
conditions,
et
media
mark
e of social

What do y
ha
ou mak
Q.
Giv
ou had to
v
pr
e y
en the
ominent
and its
ent
Q. Given the current market conditions, have you had to Q. What do you make of social media and its prominent
r
cur
v
er
y
our k
valuate
or r
e-e
es
o
objectiv
e
y
w
y
e
last
f
ears,
w
alter
ho

and
the
in
impor
rise
the
coming
o
v
er
alter or re-evaluate your key objectives over the coming rise in importance over the last few years, and how
tance
important do you feel e-commerce and online activities
12 months? impor tant do y ou f eel e-commer ce and online activities
12 months?
v
y
not
w
that
e
w
A. Definitely there are challenges now that we did not have in the will continue to be?
did
A.
ha
are
the
no
challenges
there

in
Definitel
e
ue to be?
will contin
A. I always look at where a journey starts for a customer. When a
past, but on the other hand we have learnt a lot from this pandemic
past, b ut on the other hand w e ha v e lear nt a lot from this pandemic A. I al wa ys look at where a jour ney star ts f or a customer . When a
e
our
ing
future
w
br
f
in
utilise
want
.
lot
the
that we want to bring forward and utilise in the future. A lot of our consumer star ts his or her jour ney of potentiall y b uying, or ev en just

A
and
to
consumer starts his or her journey of potentially buying, or even just
that
orward
of
ha
e
been
wanting to get to know a new brand, they often start by looking at
v
connecting
to
to
online
offline
with
do
alterations have been to do with connecting online to offline and wanting to get to kno w a new br and, they often star t b y looking at
ations
alter
and
the
beneficial
y
that
been
has
f
think
or
I

that company’s social media platforms. So we have really ramped up
us.
the other way around, I think that has been hugely beneficial for us. that compan y’ s social media platf or ms. So w e ha v e reall y r amped up
around,
hugel
wa
other
y
Secondl y , the decision making within the compan y has been v er y our mar k eting around social media and I w ould sa y that 90 per cent
our marketing around social media and I would say that 90 per cent
Secondly, the decision making within the company has been very
need
spaces.
is
spend
impor
eep f
or us to k
tant in order f
ou
But
on
mar
y
digital

important in order for us to keep focus. of marketing spend is on our digital spaces. But again, you need to

k
ocus.
again,
to
of
eting
our
mak
y
perf
our
social
make sure that you are performance driven around your social media.
or
en
are
iv
that
around
sure
y
mance
dr
ou
e
media.
I think that’s the critical aspect in order to get success here.
Q. How would you say the Covid-19 outbreak has affected
Q. Ho w w ould y ou sa y the Co vid-19 outbr eak has aff ected I think that’ s the cr itical aspect in order to get success here .
y our business in the past y ear , and will it ha v e an y eff ect on
your business in the past year, and will it have any effect on
our car
What w
d?
eer highlights?
ould y
ou consider to be y
your plans moving forward? Q. What would you consider to be your career highlights?
ving f
y
orwar
Q.
our plans mo

y
ear
from
the
A.
in
of
August

BoConept
A. I think if w e look at the diff erent stages of Co vid-19, the fir st of A. Aside from becoming the CEO of BoConept in August last year, ,
Aside
last
CEO
becoming
A. I think if we look at the different stages of Covid-19, the first of
me
or
ou
ha
y
suddenl
y
was
f
as
m
course came as a bit of a shock because suddenly you have to close I I would say a big highlight for me was in one of my previous roles
a
bit
previous
ould
y
a
big
came
cour
w
highlight
of
e
sa
shock
one
because
in
v
of
close
y
roles
to
se
a
P
of
CFO
y
was
y
do
essentiall
eller
Jew

down all of your stores and follow the guidelines, it was essentially as CFO of Pandora Jewellery Asia, where over a five-year period
andor
as
a
it
per

where
fiv
guidelines,
of
o
and
wn
e-y
ear
w
f
all
ollo
the
Asia,
our
y
stores
a
v
er
iod
crisis management in those first three months. But then we started
cr isis management in those fir st three months. But then w e star ted betw een 2012 and 2017 w e took the b usiness from a €30M
between 2012 and 2017 we took the business from a €30M
to focus on what we could do to still reach our customers and again
business to a €400M business. I think that resetting of a business
to f ocus on what w e could do to still reach our customer s and again b usiness to a €400M b usiness. I think that resetting of a b usiness
we really learnt a lot here, because we tested many new virtual
action
an
y
on
had
where
y
w
w e reall y lear nt a lot here , because w e tested man y new vir tual on new grounds where we had not really had any traction was a
tr
reall
a
e
new
had
grounds
was
not
par
tools and better understood how to communicate online and learn
tools and better under stood ho w to comm unicate online and lear n particular highlight.
ticular highlight.
how our stores could use the online platform better. The result of
ho w our stores could use the online platf or m better . The result of
all this meant that November last year became the best month in
all this meant that No v ember last y ear became the best month in Q. Ho w ar e y ou f eeling about the 12 months ahead?
Q. How are you feeling about the 12 months ahead?
BoConcept’s history. y . A. I f eel v er y , v er y positiv e and I reall y lik e this new mind-set about
A. I feel very, very positive and I really like this new mind-set about
BoConcept’
s histor
living in a more sustainable way, of buying more sustainably and looking
living in a more sustainab le wa y , of b uying more sustainab l y and looking
at
w
.
a
being

or

From
b
e
y
,
a
wa
usiness
in
spectiv
diff
ld
erent
per
the
Q. What key leadership skills do you feel are the most
Q. What k e y leadership skill s do y ou f eel ar e the most at the world in a different way. From a business perspective, being
CEO for BoConcept, a company that sells design solutions, I believe
important in the current retail climate?
impor tant in the cur r ent r etail climate? CEO f or BoConcept, a compan y that sells design solutions, I believ e
special
thinking
of
that
wa
of
A. Focus and prioritisation is massive. I also think that as a leader, it’s
y
and
deliv
y
to
ing
that
wa
something
er
A. Focus and pr ior itisation is massiv e . I also think that as a leader , it’ s that way of thinking and that way of delivering something special to
y
kno
that
ou
sustainab
cor
very important to show that you know where the corner flags are a consumer who wants something sustainable and something that
impor
something
who
consumer
flags
something
y
ner
er
le
sho
a
w
are
to
the
and
tant
v
where
w
wants
that
and to not kill creativity in these difficult times.
and to not kill creativity in these difficult times. lasts is impor tant. I think these tw o things reall y go hand-in-hand and
lasts is important. I think these two things really go hand-in-hand and
theref ore I f eel pretty positiv e about the future .
therefore I feel pretty positive about the future.
Q. As a leader , when making k e y strategic decisions, what
Q. As a leader, when making key strategic decisions, what
y as
ds of warning f
Do y
proportion of the decision do you feel is fact-based and
v
Q.
pr opor tion of the decision do y ou f eel is fact-based and Q. Do you have any words of warning for the industry as
e an
ou ha
the industr
or
y w
or
tion is instinctual?
we head into unchartered territory?
what proportion is instinctual? w e head into unchar ter ed ter ritor y?
what pr
opor
w
no
f
or
beha
viour
is
a
question
r
ight
consumer
one
ev
er
y
Of
cour
se
per
son.

that
there
A.
I
under
stand
I’m
a
v
A. I’m a very fact driven person. Of course I understand that there A. I think consumer behaviour is a question for everyone right now
A.

dr
iv
en
er
y
fact

I
think
it
all
where
y
and
area
an
leader
ganisations
or
are decisions sometimes where y ou do not ha v e facts, b ut I often and I think it is really an area where all leaders in all organisations
are decisions sometimes where you do not have facts, but I often
all
s
I
think
in
reall
is
making
Look

patter
ore
ab
er
inf
spending

.
the
an
to
be
tak
,
consumer
y
the
e
v
bef
at
all
facts
the
time
lik
med
y
or
to
a
to
gr
n
er
ware
v
like to take the time to grab all the facts before making an informed need to be very, very aware. Look at the consumer spending pattern
e
need
decision. If something does not f eel good from a facts per spectiv e , and then the jour ney heading to wards a purchase , I think that this is
and then the journey heading towards a purchase, I think that this is
decision. If something does not feel good from a facts perspective,
ha
tests
this
then I often start with tests and this is something we have done one thing that reall y needs to be f ocused on. The other thing f or me is
done
something
then
one thing that really needs to be focused on. The other thing for me is
v
and
star
with
w
often
e
t
e
I
is
icing
mater
pr
a

all
w
capacity
r
etc…
ials,
dur ing this Co vid-19 per iod, testing an ything bef ore mo ving full y the pricing of raw materials, logistics, capacity planning etc… all these

during this Covid-19 period, testing anything before moving fully
planning
these
logistics,
of
the
orward with it.
f forward with it. things are on m y r adar and they ha v e increased quite dr amaticall y in
things are on my radar and they have increased quite dramatically in
recent times and it is important not to panic. .
tant not to panic
recent times and it is impor
Q. Do y ou f eel that leaders can be transf ormational whilst
Q. Do you feel that leaders can be transformational whilst
And
ou w
authentic?
ything else y
Q.
ould lik
do y
r
emaining
also remaining authentic? And how important do you feel Q. Finally is there anything else you would like to add?
e to ad
also
tant
w
e an
ho
ou f
eel
impor
d?
Finall
y is ther
coming
quickl
to

a
retailer
global
BoConcept
up
A.
that
reall
is
is
300
y
y
this is?
this is? A. BoConcept is really a global retailer that is coming up quickly to 300
agree
per
cent
be
A. I 100 per cent agree that leaders can be transformational whilst br and stores w or ldwide , a n umber that w e ha v e not reached bef ore .
A.
s
can
mational
whilst
or
tr
ansf
leader
I
100
that

brand stores worldwide, a number that we have not reached before.
are
present
remaining
uing
contin
also
e
also remaining authentic. I also feel it is the leaders’ job to build that We are present in more than 65 markets and we are continuing
mar
is
the
leader
65
it
f
also
ets
k
eel
uild
b
more
in
that
to
s’
e

than
job
I
W
authentic
w
are

.
and
because

cur
or
ious,
is
when
within
the
to grow in our mature markets of Germany, France, UK and Japan
this
mind-set
mind-set within the organisation of being curious, because this is when to gro w in our mature mar k ets of Ger man y , Fr ance , UK and Japan
ganisation
of
being
the
enjo
m.
ou tr
time
in
same
at
r
wth
our
whilst
y you transform. whilst at the same time enjoying high growth rates in our developing
high
eloping
gro
ying
or
ates
ansf
dev
mar
k
ets such as the US and China.
markets such as the US and China.
04 RETAIL & LEISURE INTERNATIONAL JULy 2021