Issue 41

The X Factor Road Show

The BMB road show took to the road again at the Queens Hotel in Leeds on Friday 14th July.

The main speakers were Peter Lucas who covered financial performance, the strategic way forward and shareholders objectives.

Mark Cotter presented how the business would be meeting these objectives and Kevin Stone who recently joined the Group as Brands & Marketing Director, presented a number of the Company's brands to show the approach that we will be taking in building and progressing our brands portfolio.

Peter Lucas: Shareholders Objectives

• Through organic growth and acquisition to develop the BMB Group into a leading wholesaler and retailer of menswear branded products in the UK and Eire.
• The retail division should be targeted to produce a 5% return on tax exclusive sales pre tax and the wholesale division a 10% return on tax sales pre tax.
• The business will be regarded as a brand builder within the next 5 years and will internationalise its brand portfolio.

Peter Lucas: Mission Statement

The BMB Group will be the leading wholesaler and retailer of branded menswear products within the UK and Eire. As such it will be internationally known as a brand builder and a place of first call for world renowned brands that wish to distribute their products within these markets.

Mark Cotter: Key Initiatives

• Clarity of Purpose
  Everyone will have a clear view of what is expected of them.
• Cost Control
  The right level of costs spent in the correct way.
• Retail Stores
  We will learn to be a stand alone retailer.
• Brand Development
  We are a clothing retailer and brand builder we will make all our brand excellent.

We will be successful.

We will enjoy the journey.

We can and will be the most important independent menswear business in the UK.

Kevin Stone: Creation of Brand DNA

• We will create a brand template for each of our Retail and Wholesale brands.
• Creating a "Distinctiveness" in each area we operate in.
• Each brand doesn't have to be the biggest - but it must have instant and singular recognisability.

Kevin Stone: Creation of a Brand Strategy

• Creation of a Brand Strategy
  This is the route that delivers the goal.
• Brand Proposition
  What each of our brands offer.
• The Reason Why
  The reality that supports the strategy.
• Right Product / Right People
  Product excellence combined with people who deliver.

Question Time

We all need someone to look up to - someone we admire for their achievements, whatever those may be. BMB asked Kevin Stone, prominent in his own field, who and what inspires him these days and why...

1. What was your ambition when you were 10? At the age of 10 I was like most boys my age, I wanted to be a professional footballer. I played for Pudsey Juniors who are a feeder club to Leeds United. I played in the midfield with a guy called Alden Butterworth, he went on to play 54 times for Leeds and score 15 goals. I ended up playing semi-professional for my two local teams Harrogate Town and Harrogate Railway. I am still involved in local football, last year I received an award from The Football Association in recognition of outstanding contribution to junior football in Wiltshire.
2. What was your earliest retail memory? My earliest memory was serving behind the counter of the local fish and chip shop in Harrogate, The Crows Nest. Despite smelling of fish and having really greasy hair, the money was fantastic and I spent it on clothes and rare Northern soul singles (something I still do today).
3. Were you a star pupil at school? I was a star sports pupil at primary school, and was accepted to Ashville College on a sports scholarship, but persuaded my parents to let me go to the local high school with my football mates - I wouldn't let any of my 4 kids talk me out of this kind of opportunity.
4. What are your qualifications? I have the usual crop of O'levels but left school during the 6th form to go travelling. I travelled across Europe, sold donuts on the beach in the south of France, worked in a fish factory in Bergen, Norway (used to the smell) and ended up on a kibbutz in Masada, Israel near the Dead Sea.
5. What was your first proper job? My first proper job when I came back from travelling was an apprentice builder, I hated every minute of it! Stuck it out until I passed all my qualifications (its come in very handy since) and then persuaded Next to put me on their management training programme.
6. What were you doing when you were 21 & how much were you being paid? I was earning £9,000 per year as the manager of Next menswear in Harrogate. I was with Next for 7 years progressing to area manager for the North, and then onto national menswear product manager.
7. How was your first day at BMB? My first day was great, indeed my first 75 days been brilliant! Thanks to those people who have helped me settle in and have made me feel extremely welcome and part of the team.
8. When did you get your first career break? My major career break was moving from Fred Perry (I was European sales & marketing director) to Ben Sherman to be part of the management buyout team. The opportunity to take a mass market UK centric brand and turn it into a desirable international brand was a fantastic opportunity, too good to miss.
9. Who has had the greatest influence on your career & why? I owe thanks to a guy called Stuart Shackleton who owned a shop in Leeds called Primo, it was here that I spent the fish and chip money on clothes such as Paul Smith, Lobbs shoes, Virgio trousers and Armani jeans. I ended up working in Primos on Saturdays and in the holidays and it was here thay my appetite for this industry took off.
10. Which other sector would you enjoy working in most? If I could draw I would be very dangerous!
11. Describe the best day at work you've ever had. Still waiting for the ultimate best day! Winning a trip to the Playboy Mansion was quite good as was going on your to Australia with Leeds United, oh and when I stepped in for Michael Schumacher at Monaco Grand Prix takes some beating but I am sure BMB will provide me with some great days.
12. Describe your worst day. The day a man who looked like Jesus pulled a knife on me at Next in Harrogate because I wouldn't give him a refund. HE was later arrested and got 5 years in prison for assualt with a deadly weapon.
13. Are you a workaholic? YES! But it's really important to try and get a balance. Family and friends must always come first.
14. Which personal characteristics & skills have propelled you in your career? Enthusiasm and drive and the openness to new ideas. I am really passionate about brands and brand building.
15. What excites you about your job? This is a fantastic opportunity, one that I am really excited about. My personal vision is to help make BMB into the UK's premier brand building organisation.
16. What irritates your colleagues about you? I have no idea? But I am sure they will tell me at some point.
17. Whose shoes would you love to be in? The winning Captain at this years World Cup.