00:00:03
[Music]
00:00:17
over this last
00:00:19
economic disaster we held our position
00:00:23
which is premium not
00:00:26
luxury premium affordable accessible
00:00:31
aspirational cool American classic and
00:00:34
we've not veered from that position and
00:00:37
we've learned a lot of lessons along the
00:00:39
way some of the lessons are not to chase
00:00:42
Trends not to over Supply the
00:00:45
demand watch the business part of the
00:00:47
business all the time while still being
00:00:51
creative from a product standpoint from
00:00:54
a marketing standpoint always build a
00:00:57
better mous trp always Zig while your
00:01:01
competition is zagging listen to
00:01:04
yourself and be loyal to the consumer
00:01:08
would I like to be a luxury brand
00:01:11
absolutely I think looking at Louis
00:01:13
Vuitton and
00:01:15
Gucci which is uh the brand uh Mr desle
00:01:20
built with uh an incredible Talent Tom
00:01:23
Ford or rebuilt in an amazing way I mean
00:01:27
I think every designer and every person
00:01:30
in this business looks at those brands
00:01:32
with
00:01:33
awe but I've really been forced to deal
00:01:37
with reality throughout my life with the
00:01:41
bankruptcy and the learning experiences
00:01:44
and I have focused on being an
00:01:46
affordable premium designer brand which
00:01:51
during this economic slide has served us
00:01:54
very well and the lesson in that also is
00:01:58
to stay on course
00:02:00
and we have an amazing CEO by the name
00:02:03
of Fred gearing who had been running the
00:02:07
Tommy Hilfiger Europe business for 15
00:02:09
years before he became Global CEO and
00:02:12
his philosophy was to stay consistent
00:02:16
stay on course never Veer from who you
00:02:21
are and I think that's a great lesson
00:02:24
for for everyone in any product line and
00:02:27
in any
00:02:28
business our advertising evolves our
00:02:31
marketing evolves our product evolves
00:02:34
but it's Evolution not Revolution and
00:02:38
every time time we tried to be
00:02:40
revolutionary we have failed with that
00:02:43
extra Pocket on a jacket or a gene or
00:02:47
that extra weird button or Hood never
00:02:52
really sells people want merchandise
00:02:55
that they can afford that they can wear
00:02:58
that make sense that they can have in
00:03:00
their closet today tomorrow next year
00:03:03
and where with anything else they
00:03:05
own it's important to continually come
00:03:07
up with new products and new ideas all
00:03:11
the time but it's most important to
00:03:14
listen to the consumer and what they're
00:03:16
telling
00:03:18
you so with
00:03:21
that
00:03:22
uh I think you have the whole
00:03:26
story our dream is to continue to build
00:03:29
this Lifestyle brand
00:03:31
globally uh there are areas we haven't
00:03:34
expanded into I would love to do
00:03:36
Furniture we have a home collection but
00:03:39
I think Furniture is going to be
00:03:41
challenging and
00:03:55
exciting
