RUSSELL STRAVITZ
Russell Stravitz is one of the retail industry's leading senior executives. With over 35 years of experience in every aspect of senior management as the Chairman and CEO of Brylane, Inc, and Federated Department Stores' Rich's/Lazarus/Goldsmith's, Mr. Stravitz is widely respected for his ability to develop, manage and implement innovative turnaround and growth strategies for large retail and consumer goods companies.
At Brylane, a $1.6 billion specialty direct mail company, Mr. Stravitz developed and implemented the strategic plan that created a well-focused and organized home shopping retailer from a traditional catalog company. He led the transformation of the merchandising and marketing organizations from a traditional buying organization model to a business focused on product development and brand building. As part of this plan he created three merchandising and marketing groups with new leadership: Special Sizes, Misses Apparel and a new Home Lifestyles Group. He merged all operational assets into a common backend, including IT, Logistics, Transportation and Telemarketing; improving customer service and reducing costs. He developed and launched a common e-Commerce platform, resulting in e-Commerce sales growing from 4% to over 26% of total sales with significantly reduced order costs. Mr. Stravitz launched a CRM program to improve sales and retention with best customers. He also renegotiated major agreements with credit suppliers and launched the first majors nationwide package delivery agreement with UPS.
As Chairman and CEO of Rich's/Lazarus/Goldsmith's, Mr. Stravitz led the merger of Rich's and Lazarus. He supervised the merger task forces which implemented the organizational restructuring/integration, new customer servicing policies, systems integration, new marketing calendar and strategy, Planner/Distributor function and replenishment technology. This assignment required the development of a five-year renovation program for key Lazarus stores to bring space and assortment in line with Rich's and Federated's strategy. Under his management, Rich's/Goldsmith's maintained the #1 or #2 position in profit rate performance in Federated. Lazarus gained share of market in three regions, increased EBIT and improved gross margin.
While leading Rich's/Lazarus/Goldsmith's, Mr. Stravitz was one of the key Federated executives responsible for developing a company-wide, long-term home furnishings strategy with the creation of The Home Store, which became one of the best performing divisions of Federated. He was also a member of the principle team working with the CEO of Federated Merchandising in the development of a long-term product strategy for Federated. This strategy focused on acceleration of select Designer and Status Brands, increased penetration of Private Brands, and brand extension and congruency, which resulted in significant sales, service and presentation improvement.
Mr. Stravitz began his career in retailing in merchandising at Federated Department Stores' Bloomingdale's in New York and Bullock's in Los Angeles.
