Apple Takes Gamble On New Retail Chief John Browett
January 31 2012 - 10:39AM
Dow Jones News
The appointment Tuesday of John Browett as head of Apple Inc.'s
(AAPL) retail operations is a big vote of confidence in the Dixons
Retail (DXNS.LN) chief executive but something of a gamble for the
U.S. electronics giant as it seeks to expand its retail
network.
In picking the CEO of a small, struggling European retail chain,
Apple has deviated from its usual practice of filling positions
with trusted insiders.
Apple hired executive search firm Egon Zehnder International to
help with the search, according to people familiar with the matter,
and the choice was applauded by market watchers who have followed
Browett's career.
Browett is a product of one of the U.K.'s most illustrious
management training grounds, the supermarket group Tesco PLC
(TSCO.LN). Tesco has nurtured a generation of executives now
smattered across the top jobs of several U.K. companies, including
Best Buy Europe's former CEO Scott Wheway, Dido Harding at TalkTalk
Telecom Group Plc (TALK.LN) and David Wild at Halfords Group Plc
(HFD.LN) .
Browett left Tesco in 2007 having held a number of executive
positions including his last as operations development director but
is widely remembered and credited for building up their
then-nascent online operations between 2000 and 2004.
But it was at Dixons that he will have come to the attention of
Apple executives, having orchestrated the revamp of the struggling
retailer, redesigning its stores to bring new technology --and
Apple in particular-- to the fore.
Of Dixons' 600 U.K. stores, 100 of its largest refurbishments
include a prominent Apple store within a store, and the company
also secured a 60-day exclusive deal for iPad sales in 2010.
That relationship will have improved Browetts' standing
according to Planet Retail analyst Robert Gregory, who believes
Apple made the appointment with a clear understanding of Browett's
credentials.
"He is a very dynamic character and not afraid to take risks.
One of the things he has brought to Dixons is really improving
their customer service. That fits in well with Apple's
philosophy--making the stores a destination where people can go and
really get great service."
Dixons is midway through a major turnaround plan in the middle
of a prolonged and profit-eroding slump in electrical sales.That's
the tide against which Browett has had to steer the Dixons
ship.
Caroline Gulliver, retail analyst at Espirito Santo, believes
Browett has done a good job of cutting costs at the retailer and
has improved the firm's profitability during the recession, while
seeing off the competitive threat from Best Buy Co Inc.'s (BBY)
foray into the U.K. electricals market.
And she points out that although the U.K. often overshadows the
rest of its operations, Dixons is a pan-European retailer, with
profitable operations in the Nordics.
Gregory believes Browett's international retailing experience
dovetails with Apple's strategic priority to expand stores across
new markets and boost consumers' access to its products.
"The key challenge for Apple is to expand that format
internationally. There is huge potential. A huge amount of people
know the Apple brand, but not everybody can go into a store. I
can't see them changing things too much as the formula is clearly
working," he said.
-By Kathy Gordon, Dow Jones Newswires; 44-207-842-9293;
kathy.gordon@dowjones.com
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