What:  A reflection on the key actions taken during the pandemic to help the company strive

Why it is important:  In addition to omnichannel improvement based on the physical stores network, the CEO mentioned key partnerships with Amazon and Sephora (in a similar manner to what Manor does with FNAC and Decathlon), as well as a strong audit of the product and brands portfolio, leading to a more focus assortment.

Michelle Gass, CEO of Kohl’s, was interviewed during the NRF Retail Converge event (see our report here) and provided some insights on her way to deal with the pandemic and the key lessons:

• A careful audit of the department store’s brand portfolio to make sure its offer was at the same time coherent, adequate to customers’ needs and efficient (leading to a reduction of 20% of the assortment between 2019 and 2021, including the discard of 25 private labels),
• Capitalize on the real estate portfolio and variety of formats to provide omnichannel services (BOPIS, kerb side pick up, ability to accept returns from Amazon products),
• Partnerships with specialist retailers such as Sephora, which will expand to 850 stores within 2023. The target is to send a message to other specialist retailers and be attractive thanks to its physical stores footprint, as well as its digital capabilities.

Kohl’s CEO Brand Partnerships, Omni Services Position the Department Store for Future Success