Uncommon Retail

Many leading retail brands are reportedly closing or filing for bankruptcy - Nine West, Rockport, Payless Shoes, Sears. The Gap, Kmart, Forever 21, Victorias Secret and Walgreens are downsizing their number of stores. However, Bath & Body Works is OPENING stores...why? Bath & Body Works are recognised for highly scented lotions and candles with names such as Twinkling Nights and Underwater Oasis, notching 40 straight quarters of sales growth and continuing to attract new customers at a time when mall visits are dwindling. Analysts say it has defied many of the challenges roiling the retail industry. Many believe the retailer's success is due to its continually changing assortment of candles, shower gels, and hand creams. Others say it's the portable indulgences that appeal to a younger audience on a budget. The brand has also heavily invested in transforming its stores into bright, fanciful enclaves of escape. It seems the reassessing of every part of the business has ensured constant growth. Experimenting with new floorplans, prices, and products allow them to stay current and relevant to their audience. Few of their competitors strike the same balance between prestige and portability. There is clever leadership within this brand, and many lessons we can take to apply to our own companies. © GB