You probably haven’t heard of Klaus Maertens but I reckon that most of you will have seen what he started.
Klaus was a German soldier who back in 1945 had a broken foot and wanted a boot without the traditional hard sole. Together with his friend Herbert Funk, who was a mechanical engineer, he designed an air cushioned sole which led to the global footwear brand Dr Martens.
Since those early days, the product has had an up and down history. In the 1970s they were very fashionable and sales grew. By the time the early 2000s came around they were having production problems and competition from other similar brands of footwear had increased.
They nearly went out of business but a swing in fashion brought them back on track and in 2013 they were purchased by Permira, the private equity group, for £300 million.
Since then their fortunes have prospered and they recently released their latest set of financials.
Revenue has shot up by 20% to £349 million and earnings were up 14% to £50 million.
Their “Direct To Consumer” (DTC) channels are doing very well and now represent 40% of their total revenue. DTC is where the products are sold directly to the consumers and not via an intermediary such as an independent shoe shop.
Dr Marten’s store count has increased by 25 to 94 and the new stores show the global reach of the brand (9 in the UK, 7 in mainland Europe, 3 in New York and 3 in Japan).
Kenny Wilson, CEO of Dr. Martens said: “Dr. Martens has delivered another outstanding year. We are an iconic brand that does things in our own unique, disruptive way and that is unifying our consumers across the globe. The business’ investment in our DTC channels, both in terms of retail stores and E-commerce, is bearing fruit, and these will remain priority channels for us.”
All in all, Dr Martens seem to be putting their best foot forward.
https://www.theexpgroup.com/wp-content/uploads/2018/11/Dr_Martens.png9441678Steve Crossmanhttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve Crossman2018-11-02 20:24:262018-11-07 07:35:55Step on it...
Picture the scene. You’ve got an important business lunch coming up. You want to make a good impression on the person you are meeting with. What should you eat for lunch?
A recent study published in the Journal of Consumer Psychology has some interesting findings which indicate that if you have an important business lunch, there are various benefits to ordering the same food as the person you are trying to impress.
Scientists from the University of Chicago studied nearly 500 people to identify whether eating the same food helped them agree in negotiations.
The researcher’s conclusion was that people who are served the same food are more likely to trust each other, smooth out problems and make deals.
As part of the study, participants in the research were told to imagine they were “investors” who had to decide whether to invest in funds operated by their “fund manager” eating partners. The researchers found that those people who were served similar food invested more money.
Another interesting finding in the study was the link between food consumption and the effectiveness of advertising. The authors said that “consumers are more trusting of information about non-food products – e.g. a software product – when the advertiser in the product testimonial eats similar food to them”.
Back to the business lunch though and although the research found that there are benefits to ordering the same food as the person you are trying to impress, I’m not sure that if you’re wearing a nice clean white shirt to the lunch meeting you should necessarily follow the other person in ordering that “tricky to eat tidily spaghetti with the sloppy tomato sauce”…
https://www.theexpgroup.com/wp-content/uploads/2018/10/business-lunch.png9441678Steve Crossmanhttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve Crossman2018-10-21 19:00:432018-10-22 16:24:24How to impress over a business lunch...
Procter & Gamble, or P&G as it’s commonly known, is one of the world’s largest companies and has an incredible portfolio of products including Gillette, Head & Shoulders shampoo and Pampers nappies.
The business was set up in 1837 by two gentlemen called, yes you guessed it, Mr Procter and Mr Gamble.
Since then it has grown to become a huge organisation and is now quoted on the New York stock exchange. It has annual sales in excess of $15bn.
A recent trademark application in the US though could indicate that there may well be some new brand names joining their portfolio.
They have made applications for trademarks on household and personal care products for certain “text speak”. Or to be more precise they have filed an application for terms including “LOL” (Laugh Out Loud) and “NBD” (No Big Deal).
The move seems to be an attempt to target the tech savvy millennial generation who have grown up with this tech speak.
It’s not certain yet whether we will see cleaning products called LOL and NBD as the U.S. Patent and Trademark Office has sought clarifications from P&G and they have until January to respond.
One other interesting term which has been included in the application is “WTF”.
Could we soon be seeing “WTF Cleaner” on supermarket shelves?
Explaining what “WTF” stands for is a bit rude to print here so if you don’t know what it means then one of the quickest ways to find out is to say “WTF” when your boss next asks you to do something.
https://www.theexpgroup.com/wp-content/uploads/2018/09/ExP-OMG.png9441678Steve Crossmanhttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve Crossman2018-09-10 07:30:372018-09-11 07:31:48OMG - will these hit the shelves?
Tea and coffee have been around for a long, long time. Many a person has grabbed a strong coffee to keep them going over a long day in the office or a long night studying.
Coffee is said to originate from East Africa where legend has it that a 9th century Ethiopian goat herder by the name of Starbucks Kaldi noticed that after his goats had ate some coffee beans they started bouncing around like teenagers at the local disco.
This started the journey of coffee and associated caffeine hits so loved by students around the world.
Tea however is often seen as a healthier option but the tea industry is facing several challenges at the moment. In particular, the 16 to 34 age group in the UK are changing their drinking habits.
Only 1 in 6 people in this age group now drink 5 or more cups of tea a day.
People in the 55 to 64 age group on the other hand drink twice as much tea.
And the reason for the reduction in drinking tea amongst the younger population?
A number of reasons have been put forward. These include the fact that the younger generation feel that black tea could stain their teeth. It is also felt to be unhealthy given the amount of caffeine black tea contains.
It’s not all bad news for the tea industry though as the younger generation are drinking more green teas and fruit teas. Green tea is claimed to enhance brain function and sales are up by 39% over the last two years.
The increase in green tea sales though has failed to stop the fall in overall tea sales as the combined market in tea was down 5%.
Maybe the famous quote “Keep calm and drink tea” should be changed to say “Keep calm and drink green tea”…
https://www.theexpgroup.com/wp-content/uploads/2016/10/latest-tea-prices.png9441678Steve Crossmanhttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve Crossman2018-07-27 14:30:312018-07-28 15:53:37Put the kettle on (or maybe not?)
One of life’s great mysteries for men when they are at a bar or club is why women always seem to go to the ladies “powder room” in groups.
There could soon be an equally mysterious occurrence that women will puzzle over and that is why men will soon disappear to the “gents” together during a social evening out.
Well, it won’t be to adjust their makeup or to catch up on the local gossip.
No, if UK company Captive Media has anything to do with it the visits to the toilet by men could soon be a great marketing opportunity.
It’s been estimated that on a night out a man spends on average 55 seconds relieving himself each time he visits the urinals in the gents (if you ever saw a person with a clipboard and a stopwatch behind you at the urinals now you know why…)
In the eyes of Captive Media this represents a great advertising opportunity as rather than staring blankly at the wall in front of you (or telling the person with the clipboard and stopwatch to go away) they have developed a urinal-based games console which allows men to, how can we say it but aim and shoot at targets with their “stream”.
The games are mixed with adverts and include for example a downhill skiing game which is controlled by your “stream”.
It remains to be seen what products will be advertised in this way but one thing for sure ladies is that if your boyfriend or husband returns from the gents whilst you’re out together on a social evening and he says that he’s just beaten his personal best then you know what it refers to.
https://www.theexpgroup.com/wp-content/uploads/2017/06/unusual_advertising_methods.jpg478849Steve Crossmanhttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve Crossman2018-07-19 08:19:552018-07-20 08:13:01Gentlemen, you've got 55 seconds to beat your best...
Creativity and innovation in any organisation should always be welcome and whilst technology is often at the forefront of innovation it is sometimes the really simple ideas that can create benefits.
Unfortunately, in this particular situation it didn’t quite go according to plan.
The initial idea was good. Officials in charge of the 1,200 acre Minto-Brown Island Park in Oregon in America were concerned that several invasive plants were taking over the park and killing off a number of the native flora including maple and hazelnut trees.
The solution put forward was to create a crack team of 75 goats who would eat the invasive plants such as the Armenian blackberry and the English Ivy which would then mean that the native flora would thrive.
75 goats were duly obtained from a company called Yoder Goat Rentals (as an interesting aside I wonder how many of you were aware that you could rent a team of goats. I certainly wasn’t.)
The goats got down to work but 6 weeks later the project was cancelled.
There were a number of issues.
Firstly, the goats were fairly relaxed about what they ate. In terms of the invasive Armenian blackberry for example they decided to eat the tasty blackberry leaves but left the prickly bramble. This resulted in the plant carrying on growing.
Secondly, they didn’t show any distinction between the (tasty) maple and hazelnut trees which they were supposed to be helping and the invasive plants.
Thirdly, the total cost of the 6-week pilot programme was $20,719 which was nearly 5 times the $4,245 cost for a normal parks maintenance man supported by a prison inmate work crew.
Finally, according to a report to the city council the goats “had a barnyard aroma”.
In summary, a nice try but it didn’t quite work. Still, as any successful business person will surely agree, you don’t progress unless you try. Better luck next time and at least the goats had a nice 6-week holiday in a lovely park…
https://www.theexpgroup.com/wp-content/uploads/2016/03/goat-workers.jpg19193411Steve Crossmanhttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve Crossman2018-06-03 16:22:122018-06-03 16:22:12Grab your goat and let's go...
What’s one way of increasing the chances of getting hold of someone’s password?
Does it involve the use of the very latest supercomputer? Does it involve some clever IT geeks hacking into a computer for you?
Or does it involve chocolate?
A bit of research published in the journal Computers in Human Behaviour attempted to find out how people are obligated by the kindness of others. Or in other words, if someone does something nice for a person, how likely is it that the person will be nice back to them?
The researchers in Luxembourg conducted a survey of random people in the street asking them about internet security including questions about passwords.
Some of the people interviewed were given chocolate and some weren’t.
30% of those that were not given chocolate revealed their passwords which to me is a surprisingly high percentage and just goes to show that quite often human stupidity is the weakest link in internet security.
For the people who were given chocolate at the beginning of the interview the figure rose to 44% and if the chocolate was given just before the question on passwords was asked an incredible 48% gave their passwords! Yes, nearly half of the people asked their passwords as part of a survey told a complete stranger their password if they had been given chocolate.
Andre Melzer, the author of the study said that “when someone does something nice for us we automatically feel obliged to return the favour”.
So, in conclusion, if someone walks up to you in the office and offers you a piece of chocolate be careful what you say…
https://www.theexpgroup.com/wp-content/uploads/2016/07/chocolate.png9211637Steve Crossmanhttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve Crossman2018-05-25 02:55:442018-05-25 02:55:44Would you do this for a bit of chocolate?
A lot of our readers are accountants or are training to be accountants. It should arguably follow therefore that you are good with figures. You are good with numbers and can manage your finances.
Not everyone though may be as good at managing their own personal finances and for any of you who may have problems controlling your spending, a new product will shortly be hitting the market which could be of interest to you.
A British company by the name of Intelligent Environments has developed a wristband that will deliver an electric shock to the wearer when they exceed pre-set spending limits.
The Pavlok wristband links to an individual’s online bank account and when a pre-set limit is exceeded a 255-volt electric charge is delivered to the wearer. The wristband is named after the Russian scientist Ivan Pavlov whose research showed that the behaviour of dogs could be altered by the prospect of reward or punishment.
Submitting yourself to an electric shock to stop yourself spending money does seem a bit extreme and with a cost of £120 then the buyer may well end up having an electric shock earlier than anticipated…
https://www.theexpgroup.com/wp-content/uploads/2016/07/Financial-Control.png8301475Steve Crossmanhttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve Crossman2018-05-17 11:53:422018-05-17 11:53:42This is shocking…
Some of you may have heard of the website Ashley Madison.
For those of you who haven’t heard of Ashley Madison, it’s a website where married people can register to meet other married people without their respective husband or wife knowing and then have an affair.
In fact, some of you may be registered members of the site (this does raise the question that if you are a registered member of Ashley Madison and are reading this business blog then at the moment you are finding business stories more interesting than having an affair so well done on that).
Ignoring the rights or wrongs of a website facilitating affairs, Ashley Madison has had an up and down ride over recent years.
Back in 2015, they were hacked. As a result the personal details of their users were leaked and there were a lot of users. When I say “a lot”, there were 32 million users.
The situation got worse for Ashley Madison though.
As well as their systems being hacked and details of who had signed up being leaked, it turned out that the vast majority of users were men and of the women who had signed up a significant proportion were Bots (i.e. a piece of software) or prostitutes.
All in all, not great selling points when trying to encourage new members.
In an attempt to build up trust (if trust is a relevant word for people looking for affairs that is…), Ashley Madison commissioned Ernst & Young to cast an eye over the membership data and see if it stood up to scrutiny.
There were some interesting results including the fact that 15,542 new members signed up each day in 2017 (that’s nearly half a million new users per month).
There were also more active women on the site than men. Globally, the ratio of active males to active females was 1 to 1.13 but there were variations on a regional basis ranging from Australia where the male to female ratio was 1 to 0.78 and Columbia where the ratio was 1 to 2.39.
Ernst & Young also reported that “The Client had used Bot programs to generate message activity with paying customers in prior years. The Bot programs were decommissioned in 2015 and our procedures related to calendar 2017 found no evidence that the use of Bot programs previously operated had been reinstated.”
So, in theory the registrations are human and there’s no danger of falling in love with a bot.
The full Ernst & Young report can be found at www.ashleymadison.com/2017report but I would be careful as if you’re viewing this on a computer at home and your husband or wife finds you’ve been visiting ashleymadison.com then there could be some difficult questions to answer.
Then again, if you start typing in the website and your web browser recognises it from a previous visit to that site then maybe…
https://www.theexpgroup.com/wp-content/uploads/2018/04/ethics-in-business.jpg18833347Steve Crossmanhttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve Crossman2018-04-26 13:34:212018-04-26 13:34:21EY confirm the women were real
We’ve all been there haven’t we? Long boring meetings that don’t seem to be going anywhere.
Maybe you’ve tried to give the impression of being interested in what was being said but in reality the meeting wasn’t relevant for you and your mind was wandering to other more interesting things.
Well, if you’re not a great lover of excessive meetings then you are not alone. In fact, you share the thoughts of an incredibly successful and admired business person. Namely, Elon Musk.
Mr Musk’s current business interests include Tesla and SpaceX.
In the past he founded x.com which later became PayPal. Paypal was subsequently bought by eBay for $1.5 billion.
He currently has a net worth in excess of $20 billion.
But what does he think about meetings?
In an email to his staff that was leaked to the electrek website there were a few productivity recommendations:
In the words of Mr Musk, these include:
– Excessive meetings are the blight of big companies and almost always get worse over time. Please get of all large meetings, unless you’re certain they are providing value to the whole audience, in which case keep them very short.
– Also get rid of frequent meetings, unless you are dealing with an extremely urgent matter. Meeting frequency should drop rapidly once the urgent matter is resolved.
– Walk out of a meeting or drop off a call as soon as it is obvious you aren’t adding value. It is not rude to leave, it is rude to make someone stay and waste their time.
– Don’t use acronyms or nonsense words for objects, software or processes at Tesla. In general, anything that requires an explanation inhibits communication. We don’t want people to have to memorize a glossary just to function at Tesla.
– Communication should travel via the shortest path necessary to get the job done, not through the “chain of command”. Any manager who attempts to enforce chain of command communication will soon find themselves working elsewhere.
– A major source of issues is poor communication between depts. The way to solve this is allow free flow of information between all levels. If, in order to get something done between depts, an individual contributor has to talk to their manager, who talks to a director, who talks to a VP, who talks to another VP, who talks to a director, who talks to a manager, who talks to someone doing the actual work, then super dumb things will happen. It must be ok for people to talk directly and just make the right thing happen.
– In general, always pick common sense as your guide. If following a “company rule” is obviously ridiculous in a particular situation, such that it would make for a great Dilbert cartoon, then the rule should change.
Nicely said Mr Musk.
https://www.theexpgroup.com/wp-content/uploads/2018/03/Tesla_garage.jpg19883534Steve Crossmanhttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve Crossman2018-04-17 22:54:212018-06-11 10:50:27Nicely said Mr Musk
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