“For us, our partnership with Amazon was all about new customer acquisition,” says Lands’ End CEO Jerome Griffith. “If you look at searches online, more people go to Amazon to search for clothing than anyplace. If you are not there you are not relevant.”
Jerome Griffith, CEO of Lands’ End, discussed the recent turnaround of Lands’ End and the reasons for it on Fox Business:
We Are Doing Well Because We Went Back to Basics
We’ve had six quarters of sales increases and five straight quarters of EBITDA increases. The company is on a good track right now. We are doing well because we went back to basics at Lands’ End and made Lands’ End what Lands’ End was meant to be.
We Veered Away From Who the Customer Was
The company has a very loyal consumer base. In fact, the conversion rates online are some of the best in the industry. That means the customers like what we give them. What happened over the years is we sort of veered away from who the customer was. We seemed to be saying we want a different customer. Now we don’t. We know who our customer is and we want them.
If You Are Not on Amazon You Are Not Relevant
For us, our partnership with Amazon was all about new customer acquisition. If you look at searches online, more people go to Amazon to search for clothing than anyplace. If you are not there you are not relevant.
If Tariffs Come We Will Weather the Storm
Right now we are extremely well diversified, we don’t have one country that we are over-penetrated. So even if tariffs come into effect I think we will probably weather the storm. This company is really focusing on our business fundamentals, top line growth, bottom line growth. Outside of that I can’t affect what the market does on a day in and day out basis. I tell the guys here worry about what you can affect, not what you can’t.
