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Brand News: Frederick Goldman Hires CMO; Sales And Profits Tank At Swatch: More July 20, 2016 (0 comments)
Frederick Goldman Inc. Adds CMO To Senior Management Team
New York, NY—Frederick Goldman Inc. has named Merritt Mayher (left) to the senior management team as chief merchandising officer. She comes to the company with a strong background in merchandising and product development; most recently from the Birks Group, where she served as vice president of merchandising and merchandise planning as part of the company’s senior management team. She also served as president and CEO of Shreve, Crump & Low and Schwarzschild Jewelers and earlier in her career, spent 11 years at Tiffany & Co. as a vice president of merchandising, leading the Category Management Group where she was responsible for worldwide assortment planning. She also spent some time outside the industry as chief administrative officer for Micronotes, a marketing software firm.
In her new position at Frederick Goldman, Mayher will provide overall strategy, leadership and direction for the merchandising organization of the company, overseeing all brand merchandising for national accounts and independent retailers, and will also direct merchandising for the Frederick Goldman Luxury Group (Scott Kay and KARL LAGERFELD). Merritt will be highly focused on developing beautiful, innovative products and new and adjacent product categories. She reports directly to Jonathan Goldman, CEO.
“Merritt is a strong addition to the senior management team we have been building over the past several years,” said Goldman. “As we build a platform for growth, elevating our merchandising team is a critical step and Merritt brings an enormous skill set.”
Shares, Profits Tank At Swatch
Geneva, Switzerland—Swatch Group shares fell more than 10% last week following an unscheduled announcement of double-digit declines in both net income and operating profit. According to a report in Women’s Wear Daily, sales are off 12% following “withering consumer demand” in key markets such as France, Switzerland, and Hong Kong. As a result, net income and operating profits are anticipated to drop between 50% and 60% in the second half of the year.
Swatch brands include Breguet, Harry Winston, Blancpain, Omega, Longines, Tissot and Swatch. The company attributed the drop in profits to more factors than just sales, including its industrial policy of not laying off workers in hard times, while continuing to invest in new products and marketing and pursuing a “defensive price-increase policy.”
According to the Federation of the Swiss Watch Industry, Swiss watch exports dropped 9.7% in May, with all major territories contributing to the slide. That came on the heels of a 11.1% drop in April and a 16.1% drop in March. High-end watches are taking the brunt of a crackdown on bribery in China, changing tourist and luxury consumption patterns, and weakened consumer confidence. Additionally, Chinese tourists are staying closer to home on the heels of terror attacks in Europe, cutting sharply into the luxury market in France.
Sylvie Collection Launches “Sylvie Says!”
Dallas, TX—Sylvie Collection has launched a new monthly newsletter called Sylvie Says! The monthly newsletter will contain educational marketing information and tactics, product announcements, events and more. Click here for more information.
Fruchtman Marketing Adds To Team
Toledo, OH—Tyler Liber has joied Fruchtman Marketing as the firm’s newest graphic designer. Prior to joining the agency, Liber worked as a freelance designer with clients throughout northwest Ohio. He also served as a design intern at Unigraphics in Bowling Green, OH.
Liber is a graduate of Bowling Green State University with a BFA in graphic design. He’s a member of the AIGA Toledo chapter and his work has been included in the BGSU BFA senior thesis exhibition and the BGSU President’s Gallery Collection.