Elen Lewis talks to Jacqueline Gold, CEO of Ann Summers and Knickerbox about parties, not having to pander to shareholders and losing a million pounds
Why has the Tupperware party model become so successful for Ann Summers?
Because it has allowed women to buy sexy lingerie and sex toys in the comfort of their own homes.
How do you ensure your party organisers represent your brand's values?
We have very good training for all our party organisers and with 30 years experience we are very good at what we do.
What can other retailers learn from your Party Plan business?
I think it is difficult to say party plan would suit every business, but what I would say is that Ann Summers is a multi channel retailer and I do think that this is something that every retailer should be. You cannot rely on one revenue stream any more.
Ann Summers is a successful multi-channel retailer. Is the internet growing in importance as a sales channel?
Yes the internet is hugely significant. I realised early on that the internet was going to become an important part of the business so was happy to invest heavily in it. We are now of course seeing the benefits as it is the fastest growing part of the business. It amazes me how some retailers still don't have proper ecommerce websites!
How do you ensure your brands remain relevant?
I have a very good marketing and press team and we make sure that we are always coming up with new ideas to keep the business fun and relevant.
What are the vital ingredients to running a successful family business?
There are no key ingredients as I am sure that every family business is different. The biggest difference running a family business from a public company is that we are very fast at making decisions because we don't have to pander to a board of directors and shareholders!
What's the worst decision you've ever made?
Trying to launch a women's magazine called BITE. I lost a million pounds!
What's the best decision you ever made?
The Ann Summers parties of course!
What's the most valuable marketing lesson you've picked up in your career?
Make sure you are different from your competitors.
What do you look for in a good marketing director?
Someone who has great ideas.
Jacqueline Gold is speaking at this year's Retail Forum on 20 May.