Interview with Rick Platt

Face2Face
Rick Platt
Rick Platt
Group President
Sequential Brands Group
Sequential Brands Group

Last year, the company has announced its plans to open international distribution in South Korea. What are the opportunities Sequential Brand is foreseeing in the country?

South Korean is a new and emerging market and we have seen a lot of success for our fashion brands there. I think the most important point is when we expand to a new international market it is very important to have partners who understand that market.

Can you tell us about the major changes in the branded clothing industry over the years, especially in terms of focus area, competitors, technology, creativity, etc?

The biggest change we have witnessed in the US market is that the market is dominated by a select number of retailers. So in the US, it is important to focus on where you want to position your brand. All of the brands are fighting for shelf space in the retail environment and having the right retail partner for each brand is really essential for its success.

What is the role of advertising in expanding the business and what are your thoughts on the whole new world of social media marketing?

Marketing, advertising and publicity are very important for the success of a brand. In terms of social media, it is also helpful to have a celebrity component attached to a brand so the social media can help drive the sales. We are very much focused on the social media aspect of businesses. All of our brands have a personality that we make sure comes through in our social media platforms whether it be Twitter, Instagram or Facebook. It is however still important to market brands through traditional channels like creative advertising, publicity and lifestyle events that support retail partners.

Quoting from the company website, "Sequential Brands Group believes that great brands are built one step at a time. They also need great people to help nurture and grow them." Can you elaborate on it?

In a licensing business, our asset is our trademark. It not only affects our brand it also affects our third party licensing partner. We have an incredible team on the brand management side that is very hands on with each of our brands ensuring that the essence of each brand remains authentic and translates into the marketplace.

How important is economic, environmental, cultural and social development globally with the efficient use of waste products as well as sustainable raw materials?

It is definitely an important issue and one that the textile industry is concerned with now more than ever, from the buyers to the vendor partners. In the licensing business, the only way to have control over this is to work with best-in-class companies that share our core values and meet a higher level of standards.

You have over 20 years of experience and success in Brand Management, licensing, merchandising, marketing and strategic direction. Can you tell us about the quality required to be a successful corporate leader of a textile and apparel company?

I have tremendous experience in international marketing, licensing and sponsorship and have had the opportunity to work with incredible branding and licensing companies like the NFL, MLB among others. I think the main quality required to be a successful corporate leader is credibility. We need to have a level of credibility in the market place where we are introducing our new brand. We are constantly talking to our vendor partners about coming on board and having a good reputation is everything in this business.
Published on: 05/06/2014

DISCLAIMER: All views and opinions expressed in this column are solely of the interviewee, and they do not reflect in any way the opinion of Fibre2Fashion.com.

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