JEROME GRIFFITH
JEROME GRIFFITH Work Experience TUMI INC. New York, New York 2009-Present President & CEO Tumi, originally a privately held company, recently completed a public offering valued in excess of $2 billion. The company is a multi channel, multi national luxury accessories firm, distributing product in over 69 countries worldwide. The company is a leader in their industry due to exceptional product design, innovation, quality, and functionality. Sales and profit improvements since 2009 have exceeded 30% annually. ESPRIT HOLDINGS LIMITED Hong Kong. Netherlands. Germany 2002-2009 Executive Director Chief Operating Officer Member of the Board Esprit, a $5.0 billion lifestyle brand, is an international business comprised of 12 product divisions, distributing product in over 50 countries thru wholesale, retail, and e-commerce distribution channels. It’s financial headquarters is located in Hong Kong and operational headquarters are in Ratingen Germany. The company, listed on the Hong Kong stock exchange, is a member of the Hang Seng index, the HK FTSE index, and the Morgan Stanley Asian index. This position reports to Heinz Krogner, Group CEO and Deputy Chairman. Responsibilities include over 650 retail stores worldwide, e-commerce business, all women’s product, international product development, logistics, sourcing, IT, HR, architecture, visual marketing, and overseeing the China JV. Doubled size of European turnover and profit in three years Turned around Asian business from losing $25 million to making $5 million in two years Reduced SKU count and increased turn in all product divisions TOMMY HILFIGER, U.S.A. New York, New York 1999 - 2002 President – (Specialty & Flagship Retail) Executive Vice President- Retail Tommy Hilfiger, a $2.2 billion designer brand Corporation, is comprised of three wholesale divisions, two retail divisions, and a licensing division. This position reports to Joel Horowitz, CEO. Responsibilities include management of the outlet business and the development and growth of the Specialty Stores concept. This position was created to develop a more profitable specialty concept, which the company expects to roll out over the next five years. The additional responsibility of management of the $325 million outlet business was added in 2001. Direct reports have included CFO, VP’s of new Store Development, Stores, Distribution and Merchandising, and Visual Merchandising. Real Estate Development and legal work are outsourced. Developed profit model and strategic rollout plan to add three hundred TH owned specialty stores in US and abroad. Plan was board approved in May, 2000. Developed store design concepts to target the two core TH customer bases. Developed ‘store only’ product lines. Opened 40 full price stores in first 18 months of operation. Division added 100 store outlet business in 2001. J. PETERMAN COMPANY Lexington, Kentucky 1998-1999 President – Retail Division Recruited to J. Peterman to develop and launch the specialty retail stores. Position reported to Mr. Arnie Cohen, COO. Three stores had opened upon joining the Peterman Company. The expansion continued with the addition of ten full price stores and several off-price stores. Departed the company in early 1999, prior to the company declaring bankruptcy. GAP, INC. London, England 1989-1998 The Gap, a U.S.-based specialty retailer trading under the Gap, Gap Kids, Banana Republic, and Old Navy brands, has over 2,000 stores in six countries. The European business consisted of over 130 stores in France, Germany and the United Kingdom employing over 4,000 people, and generated in excess of $350 million. Managing Director; Europe 1993-1998 The position had complete responsibility for brand identity in Europe. It reported to Mr. Bill Fisher, President - International. Direct reports included three Country Managers (UK, France & Germany), Merchandising Director, Finance Director, MIS Director, Human Resources Director, Real Estate Director, and Public Relations Director. Major accomplishments: Substantially increased size of business, generating total sales increases in excess of 30% each year and like sales increases in excess of 8% each year. Developed and implemented the European business strategy, establishing an organization to manage merchandising, real estate, finance, information technology, human resources, strategic development, public relations, and country management on a cost effective, multicountry basis. Increased brand points of distribution and brand recognition by establishing stores in France and Germany in 1994 and 1996 respectively. Effectively ingrained Gap culture in these markets. Identified market opportunities for development of alternative store formats, which enabled the UK business to grow beyond original company expectations of a 50-store market, and also enabled more rapid expansion on the continent. Moved 30% of product production to Europe, which produced a gross margin increase of 25 points and a reduction of 45 days lead-time for product reorder delivery. Developed and secured board approval for flagship store strategy in France and Germany. Developed and implemented re-organization of business team in order to accomplish the above. Managing Director; United Kingdom 1992-1993 Major accomplishments: Successfully turned around UK business (consisting of 28 stores generating $50 million in sales but negative profits) to a profit-making business within 12 months. This encouraged expanding store base in the UK. Established in-country merchandising team to work with Gap domestic merchants. Implemented first external public relations campaign in Gap history, increasing brand awareness. Increased like for like sales by 12% through successfully adapting product range and pricing structure to the UK market. Cost at markdown sales were decreased by 20% and gross margin increased by 2.0 points in a difficult business climate after the devaluing of the pound in 1992. Developed and implemented store portfolio and marketing strategy to increase brand awareness outside of London. Regional Manager; New England 1989-1992 Major accomplishments: Returned the poorest performing region in the U.S. to positive sales results within 12 months. Doubled profit performance. Region had the best results of the 20 regions in the Gap division B. ALTMAN & CO. (Division of L.J. Hooker) New York, New York 1989 Vice President, General Manager White Plains, New York LORD & TAYLOR (Division of Associated Dry Goods) New York, New York 1979-1988 Vice President, Managing Director 1987-1988 Scarsdale, New York Responsibilities included repositioning the largest volume branch store in the chain through physical remodeling and increased product offerings. Vice President, Managing Director 1985-1987 Ridgewood, New Jersey Responsibilities included remodeling the highest trending suburban store and repositioning the merchandise mix. Divisional Merchandise Manager Boston, Massachusetts 1985 Buyer, Men’s Knitwear New York, New York 1982-1984 Executive Training Squad New York, New York 1979-1981 EDUCATIONAL BACKGROUND Pennsylvania State University State College, Pennsylvania Bachelor of Science, Marketing 1975-1979 INSEAD Fountainbleau, France 1997 POSITIONS ON COMPARABLE DOMESTIC AND FOREIGN GOVERNING BODIES Member of the Board of Directors of Vince, Inc., New York City, USA Member of the Board of Directors of Parsons, New School for Design, New York City, USA
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