On International Women’s Day, we look at the women leading companies big and small that the industry should be watching this year
Helena Helmersson, chief executive, H&M
Helena Helmersson became the most powerful woman in fashion when she took the top seat at H&M in early 2020.
Helmersson, who was previously H&M’s chief operating officer, has spent more than 20 years at the Swedish fashion giant.
She has certainly had a baptism of fire during her first year at the helm with the small matter of a global pandemic to deal with.
Profits and sales inevitably plunged with many countries in lockdown, with sales down 18% to £16.3bn and profits after extraordinary items tumbling a dramatic 88.2% in the year to November 30, 2020.
All eyes will be on how Helmersson rebuilds H&M after the worst year in fashion retail’s history. She has bold plans including closing 250 stores this year and investing heavily in omnichannel such as fulfilling online orders from stores.
But it’s more than just rebuilding the retailer’s balance sheet – Helmersson has committed to building back a better H&M.
The chief executive, who spent five years leading sustainability at H&M, plans to further develop its sustainability credentials with more ethically sourced and manufactured garments.
“We will continue with this journey for two reasons. One, customers demand more sustainability. Two, we want our business to be more resilient, meaning that we can grow without the huge dependency on natural resources,” she said earlier this year.
If the world’s second-largest fashion retailer can follow such a sustainable path and grow profits, others are sure to follow suit.
Marcia Kilgore, founder, Beauty Pie
Serial entrepreneur Marcia Kilgore, who founded businesses including FitFlop, Bliss Spa and Soap & Glory, is shaking up beauty by bringing radical price transparency to the sector with her latest venture Beauty Pie.
Described as a “luxury beauty member’s club”, customers sign up for a monthly membership fee for which they get an allowance to buy products across beauty, skincare and supplements with up to an 80% saving on retail prices.
Canadian Kilgore took inspiration from one of retail’s most successful businesses – Costco.
“If you look at Costco, it’s for people who want to avoid the mark-ups, are savvy and who don’t need to be defined by what is stamped on the jar,” she told Retail Week last month.
The model is proving attractive with thrifty skincare fans and its membership has surged 70% and revenue has doubled over the past year. The business took investment from venture capital firms Index Ventures, Balderton Capital and General Catalyst late last year as it seeks to emulate Costco’s success.
Judging by Kilgore’s previous ventures you wouldn’t bet against her achieving her goal and changing the world of beauty retail forever.
Alexia Inge and Jess DeLuca, founders, Cult Beauty
Another beauty business disrupting the sector is online retailer Cult Beauty, which prides itself on “expert curation” and “beauty discovery”.
It was set up by beauty enthusiasts Inge and DeLuca who were tired of buying expensive products that did not live up to their claims.
The business they created is what Inge calls their “beauty hall of fame: our own authoritative treasure trove of products that our customers could trust”. Inge believes curation is the key to its success.
“We are incredibly proud that Cult Beauty continues to grow, while we see other retailers suffering as they throw more and more products at the already beauty-confused. Our customers keep coming back because they trust us to provide them with the best advice and cult products on the market,” she says.
Cult Beauty is viewed as a trusted destination for discovering trends and must-have products. Revenue rose 31% to £104m in 2019, its last reported financial year, while profits jumped 94% to £5.7m.
While some beauty retailers were hit during the pandemic as stay-at-home consumers had little reason to wear makeup, Cult Beauty’s sales soared. The retailer’s sales surged 38% over Black Friday.
Dame Sharon White, chair, John Lewis Partnership
It has been just over a year since former Ofcom chief executive Dame Sharon White took over John Lewis Partnership and what a year it’s been.
The retail group was already in turnaround mode when White arrived and, after a year in which many of its department stores have been closed for substantial periods and consumer shopping habits have changed dramatically, transformation is needed more than ever.
White has already made big decisions, opting to shut eight stores last year and mulling the closure of a further eight now, and moving department store shop-in-shops into Waitrose.
Hearteningly, the retailer had a resilient Christmas where sales “held up better than anticipated”, no doubt helped by a stellar performance at Waitrose.
As a result, JLP was able to raise its profit guidance and expects to make “a small loss or small profit” for its last financial year, of which the results will be revealed on Thursday.
It is not the financials but the strategy changes that the industry will be waiting to hear this week from White, who is tasked with securing the future of Britain’s best-loved department store.
Her actions will have repercussions for the high street as a whole and will undoubtedly influence the path other retailers – particularly hard-pressed department stores – take in the years to come.
Roz Brewer, chief executive, Walgreens Boots Alliance
Roz Brewer will take on one of the biggest roles in retail next week when she replaces Stefano Pessina as chief executive of Walgreens Boots Alliance.
Brewer, who was previously chief operating officer of Starbucks, will be the only black woman at the helm of a Fortune 500 company.
The executive, who is a trained chemist, was chief executive of Walmart’s members-only Sam’s Club prior to joining Starbucks.
Brewer’s role is critical for all of us. As Pessina points out, WBA will play “a crucial role in combating the Covid-19 pandemic”.
Her actions will also have a big impact in the UK. Boots has been a drag on WBA in recent times – will Brewer take drastic action to rectify this?
Henrietta Rix and Orlagh McCloskey, founders, Rixo
Womenswear brand Rixo is starting to gain some real traction and has built a legion of fans including fashion editors, celebrities and influencers.
Launched five years ago at the living room table of former Asos buyers Henrietta Rix and Orlagh McCloskey, who also used their spare bedroom as a warehouse, the womenswear brand is now one of the fastest-growing businesses in Britain.
The premium fashion brand was ranked 14th in The Sunday Times’ Fast Track 100 2020 as sales surged more than 100% over the past three years to more than £10m.
The bulk of its sales come online but it trades from two London stores and is stocked in retailers such as Selfridges, Harrods and Liberty.
In stark contrast to the fast-fashion movement, Rix and McCloskey focus on selling investment pieces that people will want to wear for years to come.
They have also abandoned the traditional fashion practice of the seasonal collection and instead drop new product each month to “drive more timely, conscious and considered production”.
Rixo looks to be part of the new breed of fashion retailers that could take the place of fallen giants of the high street in years to come.
Julia Straus, chief executive, Sweaty Betty
Sweaty Betty had a bumper year as demand for its leggings and hoodies soared during the pandemic with sales rising 60% over 2020.
American Straus, who previously ran US beauty brand Tula, was promoted to chief executive of Sweaty Betty in 2019 and has since focused on the activewear brand’s digital and international expansion.
Straus has made sure the brand was focused on supporting its customers during the pandemic and its own online fitness videos proved popular with people working out at home during the various lockdowns.
That is the secret to Sweaty Betty’s success – it does more than sell stuff. It creates a lifestyle and a tribe that its biggest fans feel part of.
Straus is striving to grow this tribe so it can further benefit from the athleisure trend, which shows no sign of slowing.
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