Hear from CFO Paul Hoffman and President Andy Solomon Live at ICR Conference

Summary

In this interview, Andy Solomon (President) and Paul Hoffman (CFO) of Windsor Fashions discuss their careers and Windsor's evolution. They highlight the company's focus on special occasions, offering affordable dresses for events like prom, homecoming, and weddings. With 320 stores across 45 U.S. states and a growing e-commerce presence, Windsor aims to expand further into international markets like Canada and Mexico. The executives also talk about the company's omnichannel approach, social media strategy, and optimism for continued growth despite economic challenges.

Takeaways

• 👔 Windsor Fashions leadership: The interview features Andy Solomon, President, and Paul Hoffman, CFO, discussing their backgrounds and how they came to lead Windsor Fashions.
• 👗 Retail and fashion expertise: Both leaders have extensive experience in retail and fashion, with Solomon moving from New York to California for Windsor and Hoffman previously working with Nordstrom.
• 🎉 Focus on special occasions: Windsor Fashions specializes in providing attire for milestone events such as proms, homecomings, and formal occasions, focusing on women's dress-up needs.
• 📈 Growth and expansion: Windsor has expanded to over 320 stores across 45 states and recently opened its first international stores in Puerto Rico, with plans to expand into Canada and Mexico.
• 🛍️ Omnichannel strategy: The company embraces an omnichannel approach, integrating both e-commerce and physical stores, offering last-minute purchases and cross-channel fulfillment.
• 🏬 Malls are still relevant: Despite the decline of malls, Windsor continues to thrive with profitable stores across different U.S. regions and plans further expansion in malls.
• 💃 Diverse customer base: Windsor caters to a broad demographic, spanning from teens in high school to women in their 30s and 40s, focusing on affordability and style for special occasions.
• 💡 Competitive landscape: Windsor competes with department stores, which have reduced their special occasion sections, positioning Windsor as a go-to destination for year-round event wear.
• 📱 Social media and digital marketing: Windsor heavily relies on platforms like TikTok, Instagram, and influencer marketing to raise brand awareness and attract customers.
• 🔮 Future outlook: Windsor is optimistic about continued growth, focusing on expanding store presence, international growth, and leveraging infrastructure built during the pandemic.

Q & A

What are Andy Solomon and Paul Hoffman's roles at Windsor Fashions?

Andy Solomon is the president of Windsor Fashions, and Paul Hoffman is the CFO.

How did Andy Solomon and Paul Hoffman enter the fashion industry?

Andy Solomon has been in the retail and fashion industry since 2010, while Paul Hoffman has over 25 years of experience in retail, wholesale apparel, and fashion.

What is the core focus of Windsor Fashions?

Windsor Fashions focuses on providing clothing for special occasions and everyday events, especially for women dressing up for significant moments such as prom, homecoming, and formal gatherings.

How has Windsor Fashions evolved since its founding in the 1930s?

Windsor started as a small business in California and evolved over the years, first under family ownership, and later through private equity investment, leading to significant expansion and infrastructure development.

Who is Windsor Fashions’ target customer?

Windsor Fashions caters to women aged 15 to 40, covering various life stages and events, including homecoming, college formals, weddings, and other social gatherings.

How many stores does Windsor Fashions currently operate, and where are they located?

Windsor Fashions has 320 stores across 45 states, with a recent expansion into Puerto Rico and plans to continue growing.

How does Windsor Fashions balance online and in-store sales?

Windsor Fashions has a robust e-commerce business that works closely with its physical stores through omni-channel technology, allowing customers to browse store inventory online and pick up items in person.

How has the shift in mall popularity affected Windsor Fashions?

While malls have declined in some areas, Windsor Fashions continues to thrive in mall environments, maintaining profitability and success across various locations, from urban areas like the Bronx to more rural ones like Boise.

What are Windsor Fashions’ future expansion plans?

Windsor plans to open 25 to 35 stores per year, expand internationally into Canada and Mexico, and continue increasing its brand awareness and store footprint.

How has Windsor Fashions adapted to changes in the economic climate?

Despite inflation and economic challenges, Windsor Fashions remains optimistic. The demand for milestone events such as prom and weddings continues to drive consistent business.