WEBVTT

00:00:00.240 --> 00:00:04.680
This isn't just a celebration of
creativity for creativity's sake.

00:00:04.680 --> 00:00:06.560
It's not just art, it's commerce.

00:00:07.640 --> 00:00:09.400
Marissa,
thank you so much for being with me.

00:00:09.400 --> 00:00:11.240
It's my pleasure, of course.

00:00:11.560 --> 00:00:16.120
So I think what's so fascinating about
everything happening on the closet right

00:00:16.120 --> 00:00:20.840
here in Cannes is there's a lot of talk
about technology and AI, of course, But I,

00:00:20.840 --> 00:00:24.240
when I think about you,
I think about brands because you've

00:00:24.240 --> 00:00:28.320
worked with so many iconic brands across
so many different categories.

00:00:28.760 --> 00:00:33.560
So you are in a new role and I'd love to
hear what is your thinking right now

00:00:33.560 --> 00:00:37.520
about the importance of brands and what
you're doing right now.

00:00:38.080 --> 00:00:43.320
Yeah, I, I, I'm very comfortable and,
and honored to be associated that way.

00:00:43.320 --> 00:00:47.960
And I think this is still very much a
festival about growing brands,

00:00:47.960 --> 00:00:51.360
which is tantamount to growing businesses,
right?

00:00:51.360 --> 00:00:55.800
This isn't just a celebration of
creativity for creativity's sake.

00:00:55.800 --> 00:00:57.720
It's not just art, it's commerce.

00:00:57.800 --> 00:01:03.640
So for me it is about just thinking about
the storytelling,

00:01:03.640 --> 00:01:11.360
the human connection and actually being
mercilessly clear eyed about why would

00:01:11.360 --> 00:01:17.480
someone want to access this brand,
this product, this service.

00:01:17.520 --> 00:01:23.240
I love your point that creativity and
storytelling is in service of the

00:01:23.240 --> 00:01:29.240
business and service of commerce because
we are in companies and this is a

00:01:29.240 --> 00:01:31.040
festival of creativity.

00:01:31.080 --> 00:01:37.000
But I want to come back to the business
reality because we are in very uncertain times.

00:01:37.000 --> 00:01:42.640
Never before have we seen such,
such geopolitical and economic uncertainty.

00:01:42.640 --> 00:01:48.320
And certainly in a category like retail
with the brands that you have that has to

00:01:48.320 --> 00:01:52.240
figure prominently into how you have to
think everyday.

00:01:52.480 --> 00:01:54.040
How are you navigating that?

00:01:55.080 --> 00:01:58.040
I mean, of course,
there's not really one-size-fits-all

00:01:58.040 --> 00:02:02.280
answer because you have different brands,
different customer bases, different,

00:02:02.280 --> 00:02:05.040
you know, set of,
of opportunities and challenges.

00:02:05.040 --> 00:02:08.680
But you know,
the common denominator across our

00:02:08.680 --> 00:02:14.440
portfolio, whether it's JC Penney,
big mass all the way to Brooks Brothers,

00:02:14.440 --> 00:02:18.960
which is, you know,
somewhere between prestige and luxury,

00:02:18.960 --> 00:02:25.320
let's just say is you still have to frame
value in a way that resonates with people

00:02:25.320 --> 00:02:26.840
in a time and place.

00:02:27.320 --> 00:02:31.000
And I think it's actually a really,
I mean, it's scary,

00:02:31.000 --> 00:02:36.200
but it's also a really great opportunity
for us to take a brand like JC Penney

00:02:36.200 --> 00:02:38.840
that was beloved for a really long time.

00:02:38.840 --> 00:02:42.480
And actually what I'm finding is people
really do have a soft spot.

00:02:42.480 --> 00:02:47.480
Like people don't hate on the brand,
but the people that haven't accessed it

00:02:47.480 --> 00:02:52.760
either ever or recently don't think of it
necessarily As for them and up to date

00:02:52.760 --> 00:02:57.960
and to be able to open people's hearts
and minds to see things they really want

00:02:57.960 --> 00:03:02.680
at values that actually speak to the
current economic client climate is

00:03:02.680 --> 00:03:06.720
actually a really nice story to be able
to tell people today.

00:03:06.720 --> 00:03:10.680
I'm not trying to convince you to do
something that's tone deaf to the current

00:03:10.680 --> 00:03:11.760
economic environment.

00:03:11.760 --> 00:03:14.360
I'm trying to say, you know what,
you don't have to compromise.

00:03:14.520 --> 00:03:18.280
Now you mentioned your team and the
company overall,

00:03:18.280 --> 00:03:22.760
cattle at the catalyst level has gone
through a lot of change.

00:03:23.280 --> 00:03:28.240
So how are you leading through that
change and what's been very important to

00:03:28.240 --> 00:03:31.440
you in terms of your values at a time
like this?

00:03:31.720 --> 00:03:37.120
We are only about 6 months in to this
merger and becoming a newly formed

00:03:37.120 --> 00:03:42.040
portfolio company called Catalyst Brands
of comprised of courses.

00:03:42.040 --> 00:03:46.480
I was Speaking of JC Penney,
but also some really iconic specialty retail brands.

00:03:46.480 --> 00:03:51.960
Brooks Brothers, I named Aeropostale,
Lucky Nautica, Eddie Bauer.

00:03:52.520 --> 00:03:56.080
So, you know,
there's a lot of work to think about

00:03:56.080 --> 00:04:00.400
what's brand LED,
what becomes the sort of portfolio benefit?

00:04:00.400 --> 00:04:01.960
How do you resource A-Team?

00:04:02.360 --> 00:04:03.600
We had layoffs.

00:04:03.640 --> 00:04:06.840
I mean it, we had to construct, you know,
we had to create efficiencies.

00:04:07.120 --> 00:04:07.840
It's hard.

00:04:07.840 --> 00:04:08.360
It's hard.

00:04:08.360 --> 00:04:12.880
What what I'm proud of is we have a
wonderful CEO, Mark Rosen,

00:04:12.880 --> 00:04:17.400
and I think he's built a really great
senior leadership team.

00:04:17.440 --> 00:04:19.320
Thank you so much for being here with us.

00:04:19.320 --> 00:04:20.320
Thank you for having me.