Controversial CEO Federica Marchionni has departed from Lands’ End after just 19 months at the helm of the apparel retailer.
And as the Dodgeville, WI-based seller of casual clothing searches for a new boss yet again (Lands’ End has had six CEOS since 2002!), this seems an opportune time to consider the state of the company.
The Italian-born, New York-living, Marchionni caused a stir in the retail world by trying to make Lands’ End more attractive to younger, hipper and more affluent customers. Just a few months ago, she introduced reporters to her plans for the company’s holiday lineup, which included $600 jackets, cashmere throws and artisanal cheeses (yes, cheeses.)
Given Lands’ End reputation for sensible and low-priced clothes, a catalog of cashmere and cheese might seem a bit too much of a stretch. And perhaps it was.
But a look at data from Checkout Tracking shows that there may be an opportunity for the company to sell higher-priced items than it has in the past.
- 55 percent of the buyers of Lands’ End apparel have household incomes of more than $100,000 a year — well above the 31 percent of all apparel buyers.
More troubling, however, is that while Lands’ End does have affluent buyers, it does not have young buyers.
- Just 13 percent of Lands’ End buyers are in the coveted 25-34 age group.. Folks 35 and older, on the other hand, over index for Lands’ End buys.
For more details, take a look at the chart below:
|Demographics||Total Buyers||Lands’ End Buyers||Index to Total Buyers|