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Joe Keenan
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Lessons Learned
Fielding wrapped up his presentation by citing seven lessons that Claire's has learned as it's expanded its business abroad:
- Do the necessary research before making any decisions.
- Think "glocal," which Fielding refers to as having a global view combined with local expertise.
- Blend expertise with brand experts, which includes getting "boots on the ground."
- Stay flexible and nimble so that you can quickly react to unforeseen problems, which will come up.
- Pick the right partners to work with. Look for vendors that have a passion for your brand, stable capital structure and have worked with other brands in this capacity.
- Think digital and physical. Fielding noted that launching an e-commerce site in an international market before opening a physical store can often be a lower risk and lower cost way to dip your toes in the water to see if the demand is there for further investment.
- Expect the unexpected and be prepared to work hard.
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- Places:
- New York City
- U.S.
E
Joe Keenan
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Joe Keenan is the executive editor of Total Retail. Joe has more than 10 years experience covering the retail industry, and enjoys profiling innovative companies and people in the space.
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