Summary
The view from the top of business. Presented by Evan Davis, The Bottom Line cuts through confusion, statistics and spin to present a clearer view of the business world, through discussion with people running leading and emerging companies.
You go to a shopping centre and you find an ice rink. Or you go to a bookstore for a glass of wine. So is this the new world of retail? Evan Davis and his panel of top business brains explore what's in store for physical shopping. They also swap thoughts on what makes a good shop assistant.
Joining Evan in the studio are Sir Stuart Rose, former Chief Executive of Marks & Spencer and soon to take over as Chairman of online grocery retailer Ocado; Berndt Hauptkorn, Chief Executive of the European arm of Japanese clothing chain Uniqlo; Andy Street, Managing Director of department store chain John Lewis.
Producer: Ben Crighton Editor: Innes Bowen.
Transcript
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| 0:00.0 | Thank you for downloading this programme. In this edition of the bottom line, Evan Davison guests discuss what's in store for traditional bricks and mortar shopping. |
| 0:09.5 | Hello and welcome to the programme. Let's get some tricks of the retail trade today. How do you turn a trip to the shops or a shopping centre into a delightful experience? You have to take out the hassle and add some dazzle. |
| 0:23.6 | And we have three of the best brains in the business to tell us what that might consist of. |
| 0:28.5 | And on the subject of shopping, we'll also find out what makes a good shop assistant. |
| 0:33.5 | But before any of that, let's spend a few minutes meeting my three guests. |
| 0:37.7 | And first up, Sir Stuart Rose, a famous name in the world of retail, |
| 0:41.5 | former chief executive of Marks & Spencer, |
| 0:44.3 | chairman of the fashion retail chain Fat Face, |
| 0:47.0 | about to be chairman of the online supermarket, Akado. |
| 0:51.5 | Is it going to make profit at some point? |
| 0:53.8 | Is it on the agenda? Listen, I've always been a contrarian. I like people who want to defy gravity. I think what Tim Stein and his colleagues have done over the last five years is going to change the way we shop and think about shopping. What people want is they want what they want, when they want and how they want it. And our job as shopkeepers, as I'm no doubt we'll discuss |
| 1:10.9 | later, is to provide that. It has a relationship with waitros. We've got Andy Street from John Lewis, who part of the Waitrose group, I suppose you might say. Waitrose are now competing against Arcado, aren't they? It's a sort of very bizarre sort of world. Waitrose have their own online delivery service. Yeah, I think they've got waitress.com. You'll have to ask Andy about that. |
| 1:10.8 | But at the end of the day, Okado was originally set up with Waitrose as the provider of fresh foods and groceries. Still does do that. Since then, Ocardo's also developing its own label business. It's an evolving business. Let's see what happens over the coming years. You left Eminest. When was that? It was a couple years ago. End of 2010. Yeah. I became a free man. Yeah. Yeah. How has it gone at Marks and Spencer since, do you think? It doesn't seem to have gone quite as well. It's a sort of question, Evan, which I'm not going to be drawn into. I've made a promise to myself that I would never talk about it after I left. I've got a deep affection for the business. |
| 1:45.2 | All I would say to you is people don't realize that it's a very difficult business to run because it literally looks after men and women from age of 80 through to 80 plus. And it's what I call a taxi driver business. If you get into a cab and ask somebody their opinion about Marks and Spencer, they'll all give you an opinion. The bad news is they're all different. All right. Thank you, Stuart. Well, you might have seen branches of the Japanese clothing chain, Uniclo. And with us next is the man who runs the European arm of that store in the UK, France and Russia. He is burnt haught corn. This is huge in Japan, isn't it? |
| 2:35.1 | I mean, is it the biggest clothing retailer in Japan? By far, for sure, in Japan. |
| 2:39.8 | But in Europe, it's obviously much more modest. How many branches in Europe? |
| 2:42.9 | We are a challenger, I would say. So we have 15, 16 stores. Obviously, a couple of things in the pipeline. |
| 2:49.0 | But as you were saying, in Japan, we're huge on the |
| 2:51.9 | global scale, we're number four in terms of clothing retail and heading to become number one. |
| 2:57.4 | Now, I don't quite understand why you're not bigger in Europe. I can't speak for the rest of |
| 3:02.6 | Europe, but I can speak for the UK. I would have thought every town or every sizable town in the UK could accommodate |
| 3:10.1 | a Uniclo. Why don't you have them there? You've got like a dozen shops mostly in London. |
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