I'm not a builder of buildings, I'm a builder of collections.
Leonard LauderRead
Power is winning the battle over who owns the customer: the brand or the retailer.
Interpretation
The control over customer loyalty is a critical factor between brands and retailers.
This quote emphasizes the significance of brand allegiance in the marketplace. It suggests that the power dynamics between brands and retailers are defined by who can secure customer loyalty and ownership of the customer's preferences and spending. In an era where consumers have numerous choices, the struggle for influencing consumer behavior becomes essential for both brands and retailers to establish dominance in the market.
In practice
This quote can be used in a marketing seminar to highlight the importance of customer loyalty.
I'm not a builder of buildings, I'm a builder of collections.
You can't separate a house from a family. It's a living, breathing home.
To be a great leader, you firstly have to like people. If you don't like people, at the end of the day they will figure this out and you can't lead them too well.
Rules that may be easy for Wall Street are a death sentence for startups. They are easy to break accidentally and the penalty for noncompliance is severe.
It is very difficult to get people to focus on the most important things when you're in boom times.
The goal is not to do business with everybody who needs what you have. The goal is to do business with people who believe what you believe.
One of my business partners would remind me that no fashion line lasts forever, that we would hit the down curve eventually, and that we needed to look for new brands that complement the first one.
The idea that you can create a template that will work forever doesn't happen in any business. There's some really, really bright people in this business. You can't do the same thing the same way and be successful for a long period of time.
Companies pay too much attention to the cost of doing something. They should worry more about the cost of not doing it.
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