{"id":10912,"date":"2014-12-24T19:31:45","date_gmt":"2014-12-24T19:31:45","guid":{"rendered":"https:\/\/www.leadershipof.technology\/?post_type=avada_portfolio&p=10912"},"modified":"2014-12-24T19:31:45","modified_gmt":"2014-12-24T19:31:45","slug":"retail-turnaround","status":"publish","type":"avada_portfolio","link":"https:\/\/winningthinking.co.uk\/?avada_portfolio=retail-turnaround","title":{"rendered":"UK Retail Turnaround"},"content":{"rendered":"
\n

A UK based multi channel retailer of children\u2019s furniture facing stagnating sales required \"\"assistance with short term cash management and developing a robust business model for the future. The company had been growing successfully for a number of years but had become over reliant on discounts as it sought further growth. The supply commitments linked to the central brand proposition of exclusivity were proving increasingly onerous. The business\u2019s proposition had become blurred and its aims confused. The objective was to refocus the business on the core proposition and ensure clear management focus on the new business plan.<\/p>\n

Ability to Integrate into Client Company<\/h3>\n

Following an initial meeting with the company\u2019s directors a team consisting of Project Manager plus Marketing and Operations specialists was assigned to work with various members of the senior team to devise a short term action plan and a new business model. Daily \u201cwash up\u201d meetings on site and good working relationships with the SMT ensured tight focus on the key objectives throughout, with corrective actions agreed and commenced without delay. Full meeting of SMT delivered a new business plan with key priorities and KPI\u2019s by dept with IB executives on hand to challenge and discuss.<\/p>\n

Impact on Business<\/h3>\n

Valuable clarity of purpose for entire SMT already achieved, detailing A robust business model with \u00a31.1m EBITDA 13% less sales on brand (overall -20% on Gross Sale Values incl OL) with opportunity to cut costs and grow from a product range reduced from 1493 \u2013 590 SKUs<\/p>\n

Achievement of Objectives<\/h3>\n

Initial assessment and report completed within 1 week. Implementation of plan commenced in part while project was live. Full plan completed within 2 \u00bd weeks of engagement.<\/p>\n

Working Style<\/h3>\n

Robust challenging of directors to allow a \u201cre-set\u201d of the thinking behind the business. Direct and collaborative engagement with members of SMT to ensure new plans were internally owned from a very early stage.<\/p>\n

Leadership\/Management Skills<\/h3>\n

Focused on achieving monetary and time scale budgets through pragmatic and collaborative management style, supported by tenacious focus on deliverables where necessary.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

A UK based multi channel retailer of children\u2019s furniture facing […]<\/p>\n","protected":false},"author":5,"featured_media":12870,"menu_order":6,"comment_status":"open","ping_status":"open","template":"","format":"standard","meta":{"footnotes":""},"portfolio_category":[72],"portfolio_skills":[58,92,97,100],"portfolio_tags":[],"class_list":["post-10912","avada_portfolio","type-avada_portfolio","status-publish","format-standard","has-post-thumbnail","hentry","portfolio_category-fmcg-retail","portfolio_skills-branding","portfolio_skills-profit","portfolio_skills-succession","portfolio_skills-technology"],"yoast_head":"\nUK Retail Turnaround - www.winningthinking.co.uk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/winningthinking.co.uk\/?avada_portfolio=retail-turnaround\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UK Retail Turnaround - 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