Skip to content
sunnyjophotography

sunnyjophotography

Get Into Fashion

Primary Menu
  • Fashion Accessories
  • Beauty & Fashion
  • American Beauty
  • Fashion Style
  • Shopping
  • Jewelry
  • About Us
    • Advertise Here
    • Contact Us
    • Privacy Policy
    • Sitemap
  • Home
  • Dreams turnaround guru Mike Logue’s five steps to transform a struggling retailer
  • Beauty & Fashion

Dreams turnaround guru Mike Logue’s five steps to transform a struggling retailer

By Holly B. Martin 3 years ago

Table of Contents

Toggle
  • 2. Bring your staff on board the journey
  • 3. Unleash the power of digital
  • 4. Investing in your workforce
  • 5. Develop values to guide the business

[ad_1]

Ex Dreams boss Mike Logue
Ex Dreams boss Mike Logue

Mike Logue has staged a dream turnaround of beds retailer Dreams over the past eight years. He joined the retailer just months after it had fallen into administration.

In the months and years that followed, Logue transformed the business into a thriving business with growing sales, profits and market share.

Logue left Dreams late last year following its £340 million sale to Tempur Sealy, the largest bedding business in the world. He reveals his secrets to a successful business turnaround at The Retail Technology Show.

1. Work out what the problem is

When Logue first joined Dreams he says he realised he “couldn’t make it any worse” and set about devising his action plan.

He says his first task was to determine why the business went bust. From there he could work out what needed to change and how he was going to do it.

“When you’re owned by a private equity fund – you have to get results,” confessing that after just two days on the job he wad told that the clock was ticking.

Logue himself knew the products being sold at the time were bad, that he needed to improve store experience and its digital offering to inspire more customers and that’s exactly what he did.

“Some say we didn’t do it quick enough, but we did it.”

Logue says that to find out the true state of play, bosses must listen to both colleagues and customers as “listening turns to action.”

For him this meant going out to stores, meeting with regional staff and even driving transit vans.

2. Bring your staff on board the journey

After chatting with customers, Logue identified that they all mentioned that they simply wanted a better night’s sleep and that’s how it’s “because your sleep matters” slogan came to be.

He pushed ahead and changed Dreams’ products, moving away from “boomerang beds that were coming back quicker than we were selling them”.

However, Logue needed all his staff, from those in HR to those on the shop floor, to understand and embrace his new strategy.

Logue admits that his staff were sceptical of his plan at first but he persevered and soon his “amazing team” came on board for the transformation journey.

Former Dreams CEO Mike Logue reveals how he turned the struggling bedding retailer around at The Retail Technology Show.
Dreams transformed into the market leader in beds.

3. Unleash the power of digital

When Logue first joined Dreams in 2013, Google told him that 2.2 million people were searching for a bed per month and astonishingly 1.4 million of them were visiting Dreams.

Logue admits he became “a little bit techy” and decided that as “customers were putting digital first, so did we.”

The retailer invested £2 million into a new ecommerce platform and made sure that every colleague in the business was asked how it should look.

 

4. Investing in your workforce

“It’s about people,” Logue insists, when discussing Dreams’ turnaround. In the months after arrival, Logue established that many teams in its head office did not know each other and that had to change.

“We invested loads of time to get people to know eachother and it worked. Any reason for a party we had it,” he says.

Engaged colleagues combined with better product was the best combination to convince customers to buy, he says.

5. Develop values to guide the business

Logue also stands by his CARE (customer, attitudes, results and everyone) values.

“I cared about this and I was passionate about this. I’ve worked in business where I didn’t care – this makes the difference,” he insists.

Logue confesses that after one meeting he said: “If you don’t’ care about this I’d like you to leave,” as ultimately it is the customer that pays the bills.

“Choose the attitude to care for that customer, leave problems at the door, don’t bring it into the business.”

Click here to sign up to Retail Gazette‘s free daily email newsletter

[ad_2]

Source link

Tags: 1172 Fashion Lagos Nigeria, 1980s Controversial Aerobics -Fashion, Are Murses In Fashion, Arkadsa, Blake Lively Fashion Spt, Daily Fashion Pic, Danse Call Me Old Fashion, Evolutions Of Fashion Models, Fashion Black Tisher For Men, Fashion Blog Athletic, Fashion Blog Sims R, Fashion Brands West, Fashion Cat Accessories, Fashion Designer With Kmart, Fashion Designer Yohji Yamamoto, Fashion Designs Art Themed, Fashion Dressses Only Makes Dresses, Fashion Fabric Suppliers Us, Fashion Figures For Second Life, Fashion For Young Women, Fashion Hello February Graphicsposts, Fashion Institute Of Technology Girl, Fashion Interiors Logo, Fashion Internship Sweden, Fashion Japan 2020, Fashion Line, Fashion Necklaces With Glitter, Fashion Nova Discont Codes, Fashion Nova One Year, Fashion Show Eyebrows, Fashion Stylist In Manila, Fashion Today Jackson, Fashion Week Worldwide Dates 2019, Fashion With Athletic Legs Men, Flushing Fashion City, High Fashion Memes, Hoyoung Thug Fashion, Kelly Slater Wades Into Fashion, Kelly The Office Fashion Show, Kylie.Jenner Fashion Nova Commercial, Lolita Fashion From Amazon Reddit, Pink Foil Janoski Fashion, Plus Size Fashion Summer 2017, Plus Sizewomen'S Fashion Clothing, Russian Fashion Freaks, Secondlife Black Fashion, Street Wear Fashion Brands, Teen Vogue Non Binary Fashion, The Outsiders Tv Show Fashion, Tn, When To Use Fashion Tape, Womens Fashion With Green Sandles

Continue Reading

Previous Farfetch has officially entered beauty retail with over 100 brands
Next Shop the Best Sustainable Fashion Brands
July 2025
M T W T F S S
 123456
78910111213
14151617181920
21222324252627
28293031  
« Dec    

Archives

Categories

  • American Beauty
  • Beauty & Fashion
  • Fashion & Shopping
  • Fashion Accessories
  • Fashion Style
  • Fitness
  • gadget
  • Jewelry Authority

Recent Posts

  • Piecing It Together: Best Fabric Types for Quilt-Making
  • Toronto’s Top 10 Photo Booth Rental Companies: A Comprehensive Review
  • The Most Stylish Royal Engagements of All Time (German Focus)
  • Amazon Just Dropped 4,000+ New Clothes, and These Under-$40 Finds Are Worth Shopping for Fall
  • Fall fashion trends 2024: Elevated outerwear, luxe layering, double denim and more

Fiverr

Fiverr Logo

Tags

Andres Ankle Jeans Fashion Nova Argonian Fashion Eso Baum Und Pferdgarten Fashion Show Biology To Fashion Article Black Shoes Casual Fashion Buzz Fashion Barstow Cats Model Fashion 2020 Color Bleeding Clothes Fashion Cum Town Fashion Podcast Cute Keychain Fashion Does Cato Fashion Drug Test Fall Fashion Trends Seattle Fashion Blog Doctor Fashion Design Degree 08096 Fashion Designing Uni In Lahore Fashion Dresses 2017 Tumblr Fashion For Shuggie Lyrics Fashion Jewelry Wholesale Manhattan Fashion Of The 2000 Fashion Stackable Enamel Rings Forever 21 Summer 2016 Fashion French Fashion Series Gold Lariat Necklace Fashion Jewelry Go To Pieces Fashion High Fashion Using Lines Inditex Fashion Group Wiki Korean Fashion Fall Asian Korean Mens Fashion 2014 Kylesonthemove Kyle Fashion Flickr Lady Fashion Flohmarkt Erfahrungen Lea Chen Wharton Fashion Mejores Street Fashion Models Names Men'S Coachella Fashion Pastel Men'S Corporate Fashion Summer Mens Fashion Wrist Bands Mens Rubber Boots Fashion Oscars Fashion Gallery Persian Man Fashion Pittsburgh Fashion Trucks Platform Wedges Korean Fashion Plus Size Fashion *Mall Reddit Historical Fashion Sexy Crossdresser Fashion Techies Fashion Guys The Fashion Project Iowa
nestskin
sitifatimah
sunnyjophotography.com | Magazine 7 by AF themes.

WhatsApp us