Word: nautica
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Within 12 months, Elfers had streamlined the merchandise, discarding $350 million worth of retail volume. Out went Liz Claiborne, Tommy Hilfiger and Nautica to make room for Coach, Kate Spade and Tommy Bahama. "The big theme that drives retail is getting back control of the brand, which is what they've tried to do," says Chen. "The Starbucks theory [of always expanding] doesn't work for fashion." Since 2003 Lord & Taylor has replaced 85% of its merchandise and reduced its style count 45%. The current 47-store chain is more akin to a specialty store: manageable, edited and easier...
Vodafone's man in Japan; Nautica's new captain; Mercedes' top wheel...
DENISE SEEGAL Brand Fashioner In October, Seegal, 50, takes the rudder at Nautica, the sportswear line owned by VF Corp. since 2003. After quitting Liz Claiborne in 2000 because of a spat with the CEO, Seegal went to Jennifer Lopez's clothing company, Sweetface Fashion; she boosted sales to about $250 million last year by expanding licensing deals to such categories as jewelry and shoes. Now Seegal must steer Nautica, which has struggled with weak sales and an inconsistent image, to calmer seas...
...DATTA Footwear Fashionista Having had a foot in Nike and L.A. Gear, Datta, 43, hit the ground running when he opened his own shoe firm in 1996. Global Brand Marketing Inc. (GBMI), where the Indian-born Datta is CEO, last year sold $140 million worth of shoes bearing the Nautica, Diesel and Mecca brands in 130 countries. The company matched those sales again this year--within the first six months. GBMI is reviving the Pony marque and next summer will open four stores to sell its own brand and accompanying accessories, like handbags...
...with so much influence--Donna Karan and Nautica are still clients--Laird is remarkably humble. A native of Nacogdoches, Texas, he studied architecture in college but ended up with a degree in marketing. After following a girlfriend to New York City, Laird found a job selling shoes at Bergdorf Goodman, where he met adman Arnell. And, well, you know the story: resume, junior-account-executive job. Now Madonna and Missy. What next? "We're only just beginning," Laird says. "We have so much more work to do." --By Kate Betts