NEW YORK – Topped by the merger of Adidas and Reebok, Nike’s entrance into the mass arena, the debut of Adidas by Stella McCartney and a host of fashion brands entering the swim market, 2005 was particularly busy for activewear and swimwear companies.
Industry executives said business conditions look positive for the year ahead and are planning for growth despite an uncertain environment brought on by recent retail consolidation.
Here, eight executives reflect on their accomplishments in 2005 and share their goals and plans for the new year.
Carol Hochman, chief executive officer, Danskin
Accomplishments: “Danskin had an excellent year across the company. We had our first full year in the mass channel with Danskin Now at Wal-Mart and we have had a great reaction. We launched a core program for dance and team, and also a new separates program in dance that has been well received. We also have changed our fit at Danskin. We have made it more gracious and more for everyday women, and that has also been well received. On a personal note, my son got into Brown [University on] early decision, so we are very happy about that at the Hochman home.”
Disappointments: “We put our Zen collection of high-end yogawear to rest, which was a disappointment. After four years of trying, we realized we were never going to be able to make it work.”
Goals: “Our key goal is to keep innovation alive and keep refining our core product. We have all kinds of new performance fabrics we are working with that we think consumers will go after in a big way.”
Sheree Waterson, president of Speedo North America
Accomplishments: “It’s an exciting time because we are building on our heritage and technical prowess, and are evolving the brand into other product categories. To that end…we launched Speedo Axcelerate activewear in 2005, getting placements in many major accounts.”
Goals: “I’ve never been to the Winter Olympics, and now that Speedo’s Fastskin technology will be used in luge, skeleton and bobsled, I look forward to cheering on Team USA live and in person. Even better, it’s in Italy. Productwise, I look forward to layering the “cool factor” over the performance attributes that Speedo is known for. We have a fresh approach to design built around a sleek, modern sensibility that our team is developing.”
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Suzy Biszantz, ceo and president of Greg Norman, a division of Reebok
Accomplishments: “Professionally, it has been retaining a solid management team that has been together for most of the last four years. Keeping this group together has been the core of our success. Also, ending the third year of a strategic plan that resulted in 11 consecutive quarters of double-digit sales growth for the company and significantly improved operating profit. A personal accomplishment is after living in New York City for almost 10 years, finally buying an apartment. It’s a great feeling to own a part of the city.”
Disappointments: “I wish I had bought an apartment five years sooner. Also, [I wish I had] stopped to enjoy the success we’ve had instead of moving on to the next task at hand.”
Goals: “Professionally, I would like to increase our international distribution and increase consumer awareness of our women’s collection; also, stay innovative on the design side in both performance fabrics and updated styling. Personally, I want to turn off my Blackberry while on vacation.”
Shelley Marks, president of Marika Group
Accomplishments: “A huge accomplishment for us in 2005 was defining our four brands to make each one unique with its own distribution channel. It has helped every department at Marika, from design to production. We all have a focus, a goal with each of our brands. I am most excited about our Balance Collection, which has experienced tremendous growth this past year. We found a niche in the market that focuses on how women really live, work, work out, and balance their life and wardrobe accordingly.”
Disappointments: “I wish we had a more focused brand definition when we immediately kicked off 2005. We needed to segment our market by brand much earlier. I also wish I had spent more time in stores to personally witness how women shop and what they buy. It is extremely educational to do some research on the consumer level, and I plan to dedicate more time to that in the future. Lastly, I wish I had found more time to work out and exercise regularly. Aside from working out, I’d also like to get to the gym more often and see what women are actually wearing.”
Goals: “Professionally, to continue on the same path with our brands. Grow the Balance Collection, market Shiva Shakti as the couture yoga brand with exclusive distribution, expand our Icon brand into more gyms and sporting goods stores, and maintain our Marika brand as the best core basic fitness brand in the industry. Increase sales and marketing to find new means to reach our core consumers. I also plan to increase our rep force so we can stay closer to our customers and consumers.”
Jay Piccola, president and general manager of Puma North America
Accomplishments: “Puma North America’s company growth, while maintaining our strict focus on our consumers, would have to be our biggest accomplishment for 2005. We grew as a brand, but, at the same time, we continued to speak to the fashion and style innovators and influencers that helped us succeed. It’s important for us to stay on course and in touch with the ones who helped us become the brand we are today.”
Challenges: “The consumer-oriented marketplace is extremely fickle and demanding, and there is always room for improvement. Puma sees our customers as our life blood and, although we have done an incredible job in speaking to them, we should always strive to learn how to speak to them better. There is always more knowledge we can attain and, the more we learn, the better equipped we will be to provide high-quality products and assortments.”
Goals: “I’d like to see Puma continue our controlled growth in the North American market and not succumb to the pressures of day-to-day market trends or one-off fads. To bring Puma to a new level in 2006, we cannot lose sight of who we are as a brand.”
Joey Harary, president of Jacques Moret Inc.
Accomplishments: “This was a very good year for new ventures for us. We launched the Everlast women’s line and we also launched the Norma Kamali by Everlast line, and we are getting great placements for both. We just signed a license for Everlast in men’s, which will begin in 2006. In our Jockey business, we have increased our distribution, and the purchase of May Co. by Federated is helping us get more placement for that brand.”
Challenges: “Retailers thinking they can source products themselves are definitely a challenge. We aim to bring them branding and product pricing that they can’t do themselves.”
Goals: “Our goals are to continue to build our brands, and we have a lot of exciting things planned. We have new product categories for Jockey we are developing. Everlast is an important part of our stable and we will continue to build that business. We are also looking to work with more designers, similar to what we have done with Norma Kamali.”
Steve Furniss, founder and executive vice president of Tyr Sport
Accomplishments: “[This year] was one of our best operating years in recent history. We reached our incentive goal – increasing profitability by 45 percent over the prior year – and saw our employees rewarded for their efforts and results. We experienced a memorable year in which we executed all operational and financial aspects (on-time shipping, product availability, inventory control, margins, sales growth) of our business. We had double-digit growth in key channels: general sporting goods, team/specialty swim and multisport. A personal accomplishments in 2005 was being actively involved in my daughter’s wedding planning and the creation of a lifetime memory.”
Disappointments: “I wish I had spent more time with my bride of 29 years and less time at work. I keep reminding myself that the hourglass has flipped and living life is the priority at this stage, not work.”
Goals: “Our goals are to exceed corporate profitability goals for 2006, achieve continued market share growth in core team and specialty swim segments, increase brand awareness through greater investment in store visuals and point-of-purchase, and ramp up growth in Western Europe via our new licensee partner in the United Kingdom and our own subsidiary in France. Also, as a board member, I want to assist our trade association (Sporting Goods Manufacturers Association) in establishing new trade show formats to better serve our industry. Personal goals in 2006 are to become more adept at achieving a balance between long-range and day-to-day business goals, and better balance my personal life with my work life by swim training on a regular basis; also, spending more time with family and becoming a better listener.”
Lisa Curran, swimwear designer
Accomplishments: “Personally, spending part of my summer vacationing in Sicily was the highlight of my summer. I introduced my small children to their extended family. The time we all spent together was priceless. Professionally, it was a banner year because my business has grown a tremendous amount and I’m finally able to fully staff my office.”
Goals: “Personally, I am planning a trip to Dubai – my psychic adviser suggested I go. It’s also a retail hub, so it makes sense to get myself acquainted with the city. After that, Argentina will be my next stop. Professionally, in 2006, I will continue to grow my business by going beyond the swim realm to further establish my company as a lifestyle brand. I’ll also listen to my own advice and try to let my fears dissipate in order to propel myself forward.”