In the 2008 economic downturn, T.A. Solberg Co. faced a decision about its future. How would it weather an economic storm in the midst of markets that were becoming overly saturated with stores that sold groceries? The answer was simple: diversify.
T.A. Solberg is now a company with a broad spectrum of formats, including seven grocery stores, five gasoline stations with convenience stores, one gasoline station, a smokehouse, an events resort, a hardware store, salon, trucking company, central bakery and two recycling centers.
Read more: T.A. Solberg Co. Inc.
The Schwinn and Mongoose brand-names typically evoke thoughts of bicycles – a natural reaction, considering they are two of the most recognizable names in the two-wheel realm.
The company behind both brands hopes to take these names beyond their traditional realm on the road and into the home. “The biggest thing we are looking at is how to expand our brands’ footprint and take them into new categories where they make sense,” says Danna Dueck, licensing manager for Pacific Cycle Inc. “We want people to have a positive association with our brands long-term and bring them into other areas of their life year-round.”
Read more: Pacific Cycle Inc.
Online retailers spend thousands and even millions of dollars on market research to determine where to dedicate resources.
But all eBags.com co-founder and Executive Vice President Peter Cobb has to do is consult with his three children, who are 17, 19 and 20 years old and and conduct just about all of their shopping through their computers or mobile devices.
Read more: eBags.com
After the economy soured in 2008, Conn’s examined which of its locations – currently numbering 65 in Texas, Louisiana and Oklahoma – did well during the downturn selling the company’s mix of appliances, consumer electronics, furniture, mattresses, lawn equipment and computers. Conn’s found that the stores with a concentration of its core customers – those with credit scores from 525 to 650 – did better.
“The most unique thing that we do – our key differentiator in our business model – is our consumer finance program,” COO Mike Poppe emphasizes. “Credit scores from 650 down to 525 are our core customer – that is the sweet spot we play in. These customers have limited access to other credit; they generally are good payers and good stewards of the credit that they do borrow, and are typically going to be blue-collar, working-class, lower or fixed-income individuals.”
Read more: Conn's
With a brand that spans generations – all the way back to 1886 – capitalizing on that longevity while still remaining hip and cutting-edge is the challenge for the worldwide licensing group of Coca-Cola. “For us, continuing to stay relevant with each new generation is important,” emphasizes Kate Dwyer, group director of worldwide licensing for Coca-Cola. “We closely follow trends and technology advances to make sure we are at the pulse of what is happening in the market and continue to be relevant.”
Deklah Polansky, design director for Coca-Cola Licensing, stresses the involvement of the fresh and cutting-edge licensing design team. “They are much closer to the brand, and they live and breathe it every day,” she points out. “It’s the passion they experience in their lives outside of work that mirrors their passion to the brands.”
Read more: The Coca-Cola Co.
For some people, clothing is something they wear and discard with not much thought put into it. Yet for many, clothes have their own language that they communicate in fabrics and textures, in color, design and in the craftsmanship of a well-cut piece. For those people, clothes are an art form, a way to express their uniqueness, personality and style with pride and attention.
Read more: Barcelino
The Quincy, Ill.-based company operates 99 stores in Illinois, Iowa and Missouri that employ workers who are not only skilled, but also friendly with customers and each other. “That’s the main trait we look for,” Niemann says. “No matter what business or industry you’re in, it’s hard to train friendliness.”
Read more: Niemann Foods
In 2009, The Great Atlantic and Pacific Tea Company, also known as A&P, celebrated its 150th anniversary, a significant milestone for the oldest grocery retailer in the nation. Through organic growth and acquisitions, A&P made it to a century-and-a-half with six grocery store banners in its portfolio: A&P, Superfresh, The Food Emporium, Pathmark, Waldbaum’s and Food Basics. But if the Northeast-based company wanted to last longer than that, it needed to make some serious changes. Many stores were in need of upgrades and losing relevancy to their respective communities, but the company’s debt made investing to change these matters far from viable.
Read more: A&P
Page 5 of 20