CLIENT:
I N T E R N A T I O N A L W A T C H C O M P A N Y
Case Study No.5
Our client was a publicly-traded, large, multi-brand distributor and manufacturer of watches. Although corporate headquarters are in Europe, they have a subsidiary in the U.S. with individual brand leaders over each one of their portfolio brands.
THE ASSIGNMENT:
SEARCH & PLACE A NEW PRESIDENT
[ for a sleepy U.S. subsidiary of a global powerhouse ]
CONTEXT & CHALLENGES:
With new leadership at European HQ, there was a revitalization of the brand underway, but they knew that they would need to bring in new management to infuse the brand with new life. Within the portfolio of brands, the company has a matrix structure; each brand had a leader at HQ in Europe with a corresponding leader at each subsidiary throughout the globe. The U.S. Brand Presidents report dually to the Global Brand Presidents as well as the President of the U.S. Subsidiary.
The client wanted to bring in someone from an adjacent industry, NOT watches. They wanted fresh eyes on the brand. The need was for a hybrid skill set which included Sales Management and Marketing. Also of importance was experience with independent retailers and major department stores.
Exceptional leadership was required. With low morale and a lot of “heavy lifting” ahead, the team needed a cultural “reset”. Charisma and influencing skills were paramount from this strong politically savvy individual with the matrix organization and multiple constituencies, diplomatic skills and an ability to navigate a complex chain of command.
- We were tasked with finding a President for one of the less robust of the brands. It had been led by a long tenured team, and had become a bit “sleepy” as a brand..
- The distribution had been primarily focused on small independent jewelers. This presented challenges to controlling the brand image and to gain visibility on a broad national scale. Additionally, there was a big “gray market” for this brand which diluted efforts to control distribution.
- The brand was somewhat creatively stagnant, which led to a defeatist attitude on behalf of the tenured team.
RESULTS:
- We successfully recruited an executive from the eyewear industry. As someone who had navigated multiple licensed relationships, we knew our candidate would have the skills for this organization.
- The eyewear model was appropriate because of the mix of small independent retailers and majors as well. The ability to influence rather than control was a relevant skill our candidate had learned through license management.
- The interpersonal skills of our placement allowed for quick traction and impact.
