GFM in the Italian Press: Intimo Piu Mare

GFM supports Italian Retailers and please find below a summary of the article published in Intimo Piu Mare during covid time. 

Thierry Bayle is a coach, consultant, and CEO of Global Fashion Management with over 25 years of international experience (Europe, USA, Asia) helping retail businesses grow. He has worked with independent retailers and brands such as Calvin Klein, DKNY, Kenzo, Moschino, Paule Ka, Smalto, and Versace, as well as SMEs and young designers.

Thierry has extensive experience managing multicultural and cross-functional teams. He’s a retail guru, frequently delivering lectures and training sessions for fashion organisations, trade shows, and government entities (Autumn Fair, Pure London, UK Trade & Investment, etc.). Thierry emphasises thinking outside the box and is passionate about the business side of fashion.

Key Insights for Fashion Retailers (Swimwear & Lingerie Focus) - updated
In turbulent times, retailers must:

Embrace new sales and distribution channels, continue investing in e-commerce, build a customer journey which is second to none and, if a pandemic was to reoccur, reassure consumers through safety protocols (cleaning stores, wearing masks, etc.).
Innovate with services like home delivery, private appointments, and drop shipping to stand out.

Future of Retail
Retailers must act now as consumer demand may slow after initial spikes. Safety and today the shopping experience are paramount, and retailers should communicate their efforts to build trust. Online sales will grow but won’t replace physical stores entirely. Personal interaction remains vital, particularly in categories like lingerie and swimwear.

Recovering from Post-Lockdown Losses and a Challenging Economic Environment
Retailers need new products, channels, and strategies to recover lost revenue. Focusing on high-performing categories, margins, and customer feedback is critical. Knowing financial metrics like break-even points and cash flow projections is essential for survival.
Analyse sales, discounts and stok levels by product categories/ sub categoris and then only by brand. One client was able to improve gross profit by 43% by following the retail golden rules and working on an accurate merchandising plan.

Retail Post-Crisis
Crises create winners and losers. To succeed, retailers must adapt to change, listen to customer needs, and embrace agility. Digital presence is essential, but human connection remains a competitive edge. Retailers should collaborate and share ideas to thrive.

Resource

Original article from Intimo Piu Mare - Read it here.