The Product Manager is responsible for sourcing, producing, selling and marketing for Private Label Brands. Responsible for managing the development of private brand/label programs and style plans within the context of the sales/margin plans and business strategy. Within their specific Private Brand this role is also responsible for driving sales, margin, turn and growth across both channels for a defined area within the Product Development team’s total area of responsibility. This position will support the Product team in developing and executing a strategic vision, with a progressive, customer centric approach all while delivering on sales and profit objectives. This role requires the ability to leverage technical expertise to identify opportunities and develop assortment strategies. A fundamental requirement is to be able to build trust with their teams and key collaborators. Perform other duties as assigned.
IDEAL CANDIDATE PROFILE
The Product Manager will be known as a trusted, collaborative and results-oriented leader, business partner and change agent who can lead through influence and who possesses professional maturity and industry credibility. The ideal candidate needs to be comfortable and effective leading through significant complexity. Candidates must be comfortable with quickly evaluating and sun-setting legacy approaches that no longer align to the strategy. The ideal candidate will be known for both vision and an equally strong orientation for speed.
The successful candidate will:
- Make “company first” decisions
- Ability to influence partners
- Actively influence market to drive business
- Develop self by participating in ongoing professional development and training
- Seek out innovative solutions to existing customer and/or Company challenges
- Communicate with candor and value open debate to ensure the best ideas come to life
Assortment Vision, Strategy & Selection
- Attend Market appointments (where applicable based on category of business) prepared with strategic assortment plans and an understanding of product to support customer preferences.
- Edit and merchandise product line to fit into the program and style plans.
- Responsible for tracking and monitoring line development activities by developing and following a seasonal time and action calendar for area of responsibility.
- Owner of the Production Flow – ensure on time shipping through following timeline (production, design, marketing, logistics).
- Analyze current and historic sales/margins and market trends to assist customers in placing appropriate assortments at line previews and buy meetings.
- Set the vision and determine call to action for assortment building opportunities in partnership with Product, Design, & Buying counterparts.
- Collaborate with buying partner to develop and execute assortment strategy.
- Develop pre-season assortment vision that ties to company key priorities and insights from Design and Buying Director counterparts.
- Communicate all target costs and negotiate pricing with overseas offices and domestic vendors (for area of ownership).
- Partner with Buying/ Planning to ensure department level financial targets support assortment strategy.
- Manage the communication process with target office and suppliers to develop each program and style and to plan and place orders.
- Decide on in-season changes to make for the department and vendors based on sales, margin and turn forecast from Financial Planning.
- Support Product, Business Strategy Team and Buying Director in building seasonal strategy components based on targets.
- Provide Product & Buying Director with category, class and item performance analysis to assist in determining in-season item-level changes to make.
- Lead strategic meetings with recommended assortments (Key Resources, Design, Team Management).
- Participate in editing and merchandising product line to fit into the program and style plans.
- Responsible for presenting at best seller meetings and making recommendations.
Relationship Building with Overseas/Domestic Vendors, Marketing, Product Integrity, & Technical Design
- Maintain an industry presence that allows for connections, new business opportunities and ideas at Macy’s. Represent and support the Macy’s brand while maintaining this presence and building relationships.
- First point of contact with Vendor Community(Overseas/Domestic).
- Identify with Marketing new packaging, label, and hangtag needs and assist/mange the follow up tracking of these requests.
- Finalize all order details, materials and production reservations with overseas offices.
- Coordinate with Logistics / Customs, overseas offices, and vendors to resolve shipping issues.
- Attend all fit sessions with Technical Design and Design Teams.
- Regular, dependable attendance & punctuality.
- Bachelor’s Degree in Business, Product Development, Finance, Marketing or equivalent.
- Ideally, 4-plus years of experience in retail, Store or Buying, or Product Development.
- Excellent written and verbal communication skills with the ability to influence.
- Basic math functions such as addition, subtraction, multiplication, division, and analytical skills.
- Able to develop, plan, present and execute strategies.
- Make all sourcing decisions in support of Brand Strategy that satisfies the customer • demand and achieves sales, turn and margin plan.
- Understands competitive marketplace and pursues white space opportunities that align with North Star Strategy.
- This position involves regular walking, standing, sitting for extended periods of time, hearing, and talking.
- May occasionally involve stooping, kneeling, or crouching.
- May involve close vision, color vision, depth perception, focus adjustment, and viewing computer monitor for extended periods of time.
- Involves manual dexterity for using keyboard, mouse, and other office equipment.
- May involve moving or lifting items under 10 pounds.
- Competitive shop and determine action necessary to address competitive challenges. Identify any product opportunities and provide suggestions and input in product development to vendor.
- Support Product Director/VP to drive in season business effectively through influence of promotional strategies based on current business needs.
- Develop and coach Product Assistants & Associate Product Managers.
- Inspires, motivates, and influences the behavior of others to drive high performance.
- Engages team to examine current practices and encourages creative thinking about how things could be more effective and efficient.
- Asserts own ideas and persuades others in a clear, confident, and composed manner.
- Tailors message for the audience and is able to gain support and commitment from others.
- Comfortable with taking risks and celebrating risk taking regardless of outcome.
- Collaborative, consultative style with a strong ability to establish trust and build relationships across all levels and functions of the organization.
- Resilient, tenacious, high energy. Able to rapidly bounce back from adversity.
- Embraces change with realistic optimism and persists through challenges and setbacks caused by change.
- Ability to work a flexible schedule based on department and company needs.