Page 4 - April 2023 #180
P. 4

WHO’S                             RLI MEETS

                                                                    IN RETAIL

                                                                    Drew Green

                                                                    CEO & PRESIDENT - INDOCHINO

              What are the company’s key objectives for the next 12-18   Do you feel that CEOs and company leaders can continue to
              months?                                               be transformational in the new retail landscape and will this
                As we move through 2023, three things stand out to me. Number   actually be more important than ever now?
              one is to continue to maximise profitability for the company. We literally   Absolutely and I do believe the next 10 to 20 years are going to be
              have dozens of levers to pull within the business to continue growth.   even more transformational than the past couple of decades. Back in
              The second is the full omni-channel launch of our women’s made-to-  2015, when I was touring the world, talking about the brand, searching
              measure line, which has been in the works now for a year. We believe   for the right partners and the right investors, my statement was that one
              we will be the first in the world to offer women’s made-to-measure   day, everything that we buy will be custom and everything will be made
              through e-commerce and we will be replicating the expertise and   for us and I think that is starting to happen.
              experience we have for men’s made-to-measure online. Then the third
              thing is really to look at our retail footprint and just maximising every   What do you make of social media and its importance in the
              opportunity. There are always dozens of other smaller initiatives going   world of retail and how prominent is e-commerce and online
              on, but those are really the three biggest ones.      activities within the business?
                                                                     It is a very prominent factor as social media has become an
              Would you say events around the world in the last few years   incredible channel to tell stories. The best marketing and the best
              have affected the business at all and has it had any effects on   sales are when you tell great stories so we have really embraced
              future plans?                                         social media, both in channel and out of channel. What I mean by
                More than let it affect the business, we instead adjusted and   out of channel is, the echoing effects of partnerships with celebrities,
              adapted  and  I think that is what  Indochino  has  proven in  the  last   sports teams, athletes, hotels etc.
              three years, that it is a company that will be around for the next
              100 or 200 years. The resilience of our team, of the offering and the   Taking a step back from right now, what would you consider
              value we drive to customers was proven through Covid. The world   your career highlights to be?
              has changed in the last few years and people’s behaviours, consumer   My career highlights are that we have been able to create as a family,
              behaviours, the way they work, the way they live, the way they take   billions  of  dollars’  worth  of  shareholder  value.  I’ve  raised  billions  of
              care of themselves, the importance of family time and health, all   dollars and have grown companies throughout the years that have
              these things have changed and you need to be flexible and adaptable   sold billions of dollars. But all while that happened, maintaining being a
              to these ongoing changes.                             father front and centre, I’ve got two beautiful sons that are extremely
                                                                    successful in what they’re pursuing.
              What key leadership skills do you feel are the most important
              in the current retail climate?                        With everything that has happened in recent times, how are
                First and foremost you need to listen to your employees, your   you feeling about the 12-18 months that lie ahead?
              customers, your stakeholders and your board shareholders to really   I am excited, although we are going to face some other things that
              understand the best path forward and do not be afraid to ask a lot of   we don’t know about but what I feel really excited about is how well
              questions. Number two is empathy, which is something I’ve always   the company is prepared to be resilient through the changes that
              taken a lot of pride in, but I think is now even more important than ever.   will come. I just feel like we’re in this amazing position to withstand
              Finally, just being decisive is important. When faced with some of the   anything and maximise opportunities as they come. So that gives me
              challenges that we were faced with, you really have to be decisive and   a lot of that gives me a lot of confidence as well as excitement for the
              confident in the choice you make.                     next 12, 18 months.
              As a leader who makes key strategic decisions, do you   If we look at the retail industry as a whole, do you have any
              prefer to rely on facts and figures, your natural instinct, or a   words of warning for the industry of advice from your own
              combination of the two?                               experiences?
                We are very data focused as an organisation, we always have been and   I do feel that global supply chains need to change and that the retail
              this is just improving as we go and become a larger company. I use data   community needs to look at the supply chain at large. Can we have less
              to point out the different options but intuition also needs to be used and   waste, how can we become more efficient and can we not over produce
              I feel based on my experience that I have pretty good intuition on where   while still serving the customer in a way they prefer to be served. I’d
              we might need to go, based on data. However you have to show caution   like to see the industry as a whole innovate the supply chain as there
              because, especially in the last three years, if you think about data, it has   has been so much innovation on the front end, e-commerce, mobile
              sometimes been a mirage because of these long periods of disruption   commerce, social media etc. all the way through, but I think it is the back
              that people were not accustomed to.                   end where we need to innovate.

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