Finding a new Target Corp. chief executive officer won’t be quick or easy: It’s a complicated assignment, requiring someone who knows a thing or two about reinventing a brand and cleaning up past mistakes.
“Scale isn’t everything. It’s really complexity,” said Karen Harvey, founder and ceo of Karen Harvey Consulting Group. She suggested Vittorio Radice, who reinvented Selfridges in London and Rinascente in Italy, as someone Target should check out. “Even though he’s never done mass, Vittorio is an adventurer. He’s a master at reinventing.”
The Target ceo search is further complicated by J.C. Penney Co. Inc., The Bon-Ton Stores Inc. and American Eagle Outfitters Inc. also looking for ceo’s in an industry where there is a limited pool of experienced and talented individuals who could manage a business as big as Target’s. J.C. Penney is another tough search, considering its future turnaround seems uncertain and ceo Myron “Mike” Ullman 3rd is believed to be seeking someone who would work alongside him during a transition period.
Bon-Ton is also seeking a ceo to succeed Brendan Hoffman, but Bon-Ton is much smaller than Target or Penney’s and could consider candidates that wouldn’t necessarily be from the same field that Penney’s and Target select from.
“To bring some level [of] confidence back to shareholders and consumers, Target is really going to have to bring someone from the outside” its own ranks, said Kathy Gersch, executive vice president and chief marketing officer of Kotter International consulting. “They need somebody that really can take this opportunity to move quickly and accelerate this transformation. They can’t afford a slow, methodical approach. Target needs someone who understands the consumer market. They need to change the customer experience and get those in their organization who deal with customers, whether they work in the credit department, with the online business or in stores, more engaged to win back customers. The board must also come together to articulate what they see as the future for Target and paint the picture for prospective ceo candidates.”
“They need a merchant who can lead a very large, complicated company, as opposed to someone who would come on board and learn,” said another retail expert. “It appears there was no viable succession planning.”
“In retail, a couple of bad years and you’re out. These companies change their people like baseball managers,” said John Challenger, ceo of outplacement firm Challenger, Gray & Christmas Inc. “You would think that a top priority for Target would [be wanting] to find a ceo who has the background to reassure their shareholders, their customers and the markets that he or she can clean that data breach problem up, and that will never happen again, but Target was facing tremendous pressure before this happened.”
@tradesy is turning the concept of a showroom upside down with its new space in Santa Monica. Here, the company plans to hold events, art exhibits and a showcase rare fashion pieces like this Louis Vuitton boxing set. Get all the details on Tradesy’s first showroom on WWD.com. #wwdnews
Spotted last night at the @erdem x @hm launch event: Kate Bosworth, Rashida Jones, Kirsten Dunst and Selma Blair. The party, which took place in LA, also marked the opening of their pop-up shop. “I was interested in creating a collection that wasn’t in any way disposable. It was about pieces you’d create and keep forever, things that have a permanence to it,” designer Erdem Moralioglu said. #wwdeye (📷: Katie Jones)
Renee Zellweger in yellow in 2001 and again in 2017. Chosen as one of the 12 @pantone Leading Spring Colors (and dubbed “Meadowlark”), it only makes sense that the bright hue stands the test of time and is making a resurgence this season, seen already on stars like @blakelively and @gigihadid. (📷: Donato Sardello & @rexfeatures) #wwdfashion #tbt
Dior’s 70th anniversary celebration continues with a new exhibition at the Royal Ontario Museum in Toronto. “Christian Dior,” which is scheduled to run through March 18, takes a look at the founders tenure from 1947 to 1057 and feature 40 designs. Pictured here is an evening gown from the Ailée, fall 1948-49 haute couture collection. #wwdfashion (📷: Brian Boyle)
As one of the most recognizable models in the world, Christy Turlington Burns has an insider’s view of the fashion industry and the allegations of sexual harassment swirling around it. “I can say that harassment and mistreatment have always been widely known and tolerated in the industry. The industry is surrounded by predators who thrive on the constant rejection and loneliness so many of us have experiences at some point in our careers,” Turlington told WWD, along with her suggestions for how the modeling world should protect younger women and men. Read more on WWD.com. Link in bio. (📷: Tony Palmieri) #wwdnews
@asics America has tapped a new brand ambassador: famed DJ/record producer @steveaoki. This initiative is intended to set the tone for the new brand identity and philosophy and will include partnerships with influencers and in-store and off-line activations that will continue into next year. This is Asics’ most significant marketing effort in two decades, and is expected to attract younger consumers to the brand. #wwdfashion
24-year-old Jean Prounis is redefining the rules of jewelry. Formerly a studio assistant to Jemima Kirke and a design apprentice at Ghuran, she focuses on handcrafted subtleties and ancient goldsmithing techniques. “There was a really sterile feel in the environment and I wanted to have jewelry with character that shapes how you wear it everyday,” Prounis said. Each piece is hand made in New York, either by Prounis or three other jewelers in the district. #wwdfashion
“These collections continue to build on that vision, empowering differently abled adults to express themselves through fashion,” said @tommyhilfiger of his line of adaptive apparel, which launches today. The line consists of 37 men’s and 34 women’s styles based upon the pieces from the spring Tommy Hilfiger sportswear collection. #wwdnews