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Provide feedback that team members can incorporate into their drafts.

Write a synopsis of no more than 350 words summarizing what the team has learned from the review and discussion.

Attached are two essays Karen and Aarons essay.  Please summarize each for a total of 350 Words or more if possible. 

Running head: NEW DIVISION OF GENESCO, INC. Business Model and Strategic Plan Part 1: New Division of Genesco, Inc.


Aaron L Hampton


BUS/ 475


December 17, 2015


University of Phoenix


Thomas Lalka 1 NEW DIVISION OF GENESCO, INC. 2 Business Model and Strategic Plan Part 1: New Division of Genesco, Inc.


Nashville-based Genesco, Inc. is a publicly traded retailer specializing in shoes, hats, and


other footwear related items (IBISWorld, 2015). Genesco, Inc. was founded in 1924 as Jarman


Shoe Company and operated shoe manufacturing in Nashville, TN, and other southern U.S.


cities. Genesco, Inc. continued to manufacture shoes under their brand Johnston and Murphy


until 2002 when costs of manufacturing in the U.S. became too high. Now Genesco retails shoes


produced by third party manufacturers overseas.


Genesco, Inc. operates over 2,800 retail stores in the U.S, Canada, United Kingdom, and


the Republic of Ireland (Genesco, Inc., 2015). The retail stores operated are Journeys, Journeys


Kidz, Shi by Journeys, Schuh, Schuh Kids, Lids, Locker Room by Lids, Lids Clubhouse,


Johnston and Murphy, and the internet presence of each (Genesco, Inc., 2015). Additionally,


Genesco sells wholesale footwear under its Johnston and Murphy brand as well as licensed


brands like Dockers, and SureGrip. Third party producers manufacture these shoes overseas.


Genesco Inc. has a long history of innovation in how it produced, and retailed shoes


currently owning 2.4% market share in this highly profitable industry, the time to add a new


dynamic to increase market share is now. Building on the success of the current retail model a


new strategic initiative to provide consumers with athletic wear based on intended use, fit, and


performance is proposed. The fastest-growing segment of the footwear industry is athletic shoes


(IBISWorld, 2015), and our current model neglects the needs of these consumers. By adopting


our Lids stores to retail athletic shoes with one on one consumer advisement, we can differentiate


ourselves from the current market leader Footlocker, and reduce overall investment by


leveraging current locations and suppliers. NEW DIVISION OF GENESCO, INC. 3 Locker Room Shoes




Locker Room shoes will be a full-service athletic shoe destination with a focus on value,


and personal service. Our vision is to offer full support for the active lifestyles of the


communities we serve. This vision will be realized by offering a full selection of athletic shoes


for all sporting events in that community. As an example, La' Cross shoes and expert assistance


will not be available in Georgia stores, but will be required in Maryland stores. The goal will be


to provide focused customer assistance in athletic shoe selection based on need, and expert


fitment. Retailers in this segment like Foot Locker do not offer a personal consultation for needs,


and fit; Locker Room Shoes will.


Locker Room Shoes will benefit from Genesco Inc. supplier and manufacturing network.


Initially, Locker Room Shoes will focus on major brands with an emphasis on emerging


technologies, and wide size selection. The future goal is to leverage the retail identity, and


Genesco's manufacturing resources to develop a brand of high-quality athletic shoes that will


rival Johnston and Murphy's success in the dress shoe segment. These goals are possible based


on our existing retail locations providing low facility costs, and our volume purchasing power


from or 2,800 plus retail outlets. These savings will mitigate the increased staffing costs related


to hiring quality, experienced professionals capable of understanding customer needs, and selling


appropriate products at value prices without reducing margins.




Genseco Inc. mission is to "improve the overall quality of life in the communities where


our employees work and live" (Genesco, Inc., 2015). Providing quality athletic footwear with the


service to help consumers make the best choice will dramatically decrease injuries from NEW DIVISION OF GENESCO, INC. 4 inappropriate and ill-fitting footwear while increasing enjoyment. Currently, only small local


shoe stores offer this service; Locker Room Shoes will follow that customer service model,


thereby aligning this division with the mission and values of Genesco Inc. The Locker Room


Shoes division will strive to find new and innovative ways to offer value-driven, innovative, hiperformance footwear for the casual to the professional athlete in everyone.




The value of this new division is twofold; first we will expand the market base of


Genseco Inc., and offer intrinsic value to the communities we serve. Small brick and mortar


stores are becoming scarce due to e-commerce. Genesco's experience in both traditional retail


and e-commerce combined with our buying power offers an increase in employment and greater


opportunity for appropriate well-fit, athletic shoes for the communities we serve. Genesco Inc.


has been good at responding to consumer change. However, we stayed with core competencies


for too long, resulting in athletic footwear being under-represented in our portfolio. Currently


athletic footwear is handled as casual wear in our Journeys stores the addition of Locker Room


Shoes will increase revenue, market share and provide the opportunity to private label a range of


athletic shoes.


All aspects of the business plan for the Locker Room Shoes division are in line with the


vision, mission, and values of Genesco Inc. The market share figures combined with the success


of Foot Locker point to a need to add this division to our company profile. Once a Locker Room


shoe establishes a presence in the marketplace, the division leadership will seek opportunities.


Opportunities will be prioritized by our ability to innovate the sales, distribution, and product


offerings while staying true to the Genesco mission of giving back to the local communities we


serve. NEW DIVISION OF GENESCO, INC. 5 Strategic Direction


Initial stores will be co-located with Lids, in instances where a small local competitor is


established, and the potential market exists, every effort will be made to acquire that retailer. The


strategic vision of the Locker Room Division is to serve every community that lacks value


driven; customer focused athletic shoe retailers with the ultimate goal of also offering our brand


of athletic footwear. By aligning our division with Lids, we reduce cost and locate with an


athletically oriented customer base thereby increasing initial acceptance and increasing revenue


generated per customer. Additionally, the wider range of product offerings will increase customer


volume, increasing Lids gross revenue. Locker Room Shoes will not identify as Lids, but rather


will use Lids to build its brand acceptance.


Guiding Principles




Cultural change is a big part of starting this division; it will define how we shape the


division, and perform in the future. Society as a whole has become far more active in the last few


years, and footwear has become increasingly specialized. Much like wine the selection can


become daunting, and forces consumers to e-commerce were ill fitting, and potentially


inappropriate footwear is purchased. Keeping pace with the local athletic scene will keep Locker


Room Shoes culturally current, and provide relevance for our selection and sales staff. The


division culture will be equally engaged in the athletic footwear scene, and prioritize innovative


technology to improve performance. NEW DIVISION OF GENESCO, INC. 6 Social Responsibility


The Locker Room Shoes division will strive to maintain a social conscience and ensure


that our employees are paid a living wage, and our merchandise is sourced from sustainable


practices. This social responsibility will extend beyond the sales floor and become a part of our


future strategic plan. As the division moves forward to new locations, and private label athletic


wear a commitment to local, regional, and global sustainability will be maintained. Without a


commitment to society as a whole, this division would not be in keeping with Genesco Inc.






As a division, our ethical conduct will be reflected in all we do, especially in our fair


trade, and responsible manufacturing practices. Locker Room Shoes will only allow


manufacturing from certified facilities that maintain ethical work standards as defined by U.S.


labor codes. This commitment removes ambiguity and ensures that our customers understand


what manufacturing standards we require. Fair trade designation will also be required for all


private label products; though we can not control where other brands manufacture their products;


ours will only be made in fair trade countries.


The Way Ahead


Locker Room Shoes is a division whose time has come. For Genesco to fully realize


market potential and continue to service the footwear industry it is important we redefine the


athletic shoe retail experience. Locker Room shoes have reduced risk based on Genesco's


experience, network, and existing retail locations. The risk is further mitigated by co-locating


with Lids by reducing space lease costs, and tying to an accepted brand. Moving forward, we


will review a SWOT analysis of this division, and analyze supply and value chains. NEW DIVISION OF GENESCO, INC. 7


References Genesco, Inc.. (2015, October). Genesco Anual Report 2015. Retrieved from


IBISWorld. (2015). Industry MArket Research - Shoe Stores. Retrieved from




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