Category: Entreprenuer

Meet the Captain of the Aerospace Industry

Louis Chenevert is an icon in the investment world; he has been involved in more than 50 ventures which have turned out to be a success. After acquiring his Production Management degree in HEC Montreal, he secured a job at the General Motors. Here, the change he brought in the company was noticed, and he was given the duty of a production manager and later promoted to the Production General Manager.

In 1993, Louis got a chance to divert and work with an engine manufacturing company; Pratt & Whitney. The firm was then a branch of the United Technologies Corporation (UTC). Within six years, the unit that he was working in improved significantly and he was promoted to the President of the Company. The UTC saw the difference he was making in the firm and appointed him as the CEO of UTC.

This decision must have been among the best decisions that UTC ever made. Although Louis was hired during the financial crisis when all firms were complaining and doing everything possible to cut down on the costs, Louis managed to improve the sales of the company. The value of the company’s share rose by almost 200% thanks to the intelligence of Chenevert.

Louis says that the best way to achieve success is to see that you chose the right team to work with, in your company. It is vital that you invest in empowering your team because you cannot meet the goals alone. All great plans can only come to life with the support of a solid team.

In hindsight, it is always easy to see so many things that one thinks they could have done differently to achieve better results. For Louis Chenevert, he says if he went back in time, he could see that he does not give room for internal politics of the firm. He says that they are some individuals who are always against the agenda that propels the firm. He says that it is only wise to ignore the energy drainers and move with on with the dedicated individuals. Everyone loves a hero and, therefore, when the project turns out a success, they all speak in your language.

https://www.crunchbase.com/person/louis-r-chenevert#/entity

Don Ressler Steers the Active Wear Industry to Prominence

No Comments

About Don Ressler

Don Ressler and Adam Goldenberg founded Fabletics to address pressing fitness and lifestyle needs and concerns of women. In 2016, American consumers spent over $44 billion to purchase active wear. Based on the growth trend, the expenditure on active wear is expected to double by 2020, reaching $83 billion annually. Read more: TechStyle CEO Adam Goldenberg Talking Name Change on CNBC

Despite this exponential growth curve, only a few firms have identified this market gap. As is the case in any industry where only a few firms have unchallenged monopoly, consumers become subject to exploitation.

The companies with unchallenged monopoly rake huge profits while consumers settle for minimal value at a high price. Luckily, the entry of Fabletics in 2013 made a significant impact in the active wear industry.

Instead of adding to the traditional passive line of active wear, Fabletics revolutionized the active wear industry. Don Ressler and Adam Goldenberg teamed up with celebrities such as Kate Hudson to pioneer a competitive option for women. The idea for Fabletics was driven by the need to offer a contemporary shopping experience for females.

Over time, women have suffered the most due to the sub-standardized quality of active wear products that rarely meet their needs. Women would incur a high cost to get a colorful and minimally attractive active wear. Most of the available options were relatively ill fitting, expensive, and unattractive. As a result, Ressler and Goldenberg identified a market gap that needed urgent intervention.

Following the launch of Fabletics, Goldenberg and Ressler rose to the new challenge and started to respond to the cry of women across the US. However, the challenge was that the duo needed a huge capital base to offer any possible intervention in the active wear industry.

While Adam Goldenberg and Don Ressler were running a highly profitable online business, its capital base was insufficient. As Ressler and Goldenberg brainstormed all possible brand identities, they settled for the people-centered, friendly, and super-active actress, Kate Hudson.

She understands the psychology of women when it comes to selecting athletic wear. Besides, Kate Hudson would help women to stay fit, physically active, and healthy while helping them remain fashionable.

What started as an idea soon grew to an attractive and stylish brand of clothes for women. With the help of vibrant web presence, Fabletics turned Kate Hudson’s dream a reality. In collaboration with Kate Hudson, Ressler and Goldenberg made their way into the athletic wear industry with data-driven value for the feminine gender.

Categories: Entreprenuer