PPB July 2020

Adrienne Forrest, vice president, corporate sales for Citizen Watch America in New York City, says with its warehouse based in California, the company was unable to ship the bulk of its products for either retail or corporate use during the lockdown, but it began a soft opening in late May and is gradually shipping in larger and larger quantities to customers. Still, she says it’s unclear how the event and experiential programs will be impacted. “The next six months will be critical once companies reopen and we get a better idea of customers’ comfort levels. Customers will be relying more heavily on suppliers who have stock on the shelf since lead times overseas will be greatly impacted.” She believes it will take a year or more to return to a semblance of normal business, but it may never rebound in full. During the pandemic, the company implemented a restructuring strategy to “meet the challenges of the rapidly evolving watch marketplace and accelerated by the unprecedented headwinds of the COVID-19 crisis,” Forrest says. One of the changes was moving many of its executives into multi-brand positions. Forrest now oversees the entire CWA portfolio of brands within the corporate sales channel and the company is adding more resources to provide customers with the best service. “We now offer an unparalleled selection for every market niche under one roof, while preserving the integrity and storytelling power of each brand,” she says. “We believe these fundamental changes to our company will makes us far stronger and position us as an innovator and leader in our industry.” Paul Lage, MAS, president of IMAGEN Brands, inMason, Ohio, parent company of suppliers Crown and Vitronic, says the pandemic and subsequent lockdown caused obvious challenges but also some positive changes that might not have otherwise been addressed. “We have learned to work fromhome, embraced new technologies and processes, learned about crisis management and expanded our appreciation of all our employees and business partners as this crisis continues to pull us together,” Lage says. Even so, his biggest concern is the health of the industry. “Distributors, suppliers and our vendors are all hurting at some level as we look to a prolonged recovery,” Lage says. “If everyone just worries about themselves, then there will be a long-term negative impact on the industry. This is not a time for leverage, it is a time for partnerships. That’s what we talk about all the time and now it is the time to practice it.” The industry supply chain is another issue, but Lage believes it’s already been impacted. “Most suppliers are pushing out inventory buys, new products are being delayed and there is little certainty that we can provide our vendors for when things will change,” he says. “Many of our products are labor intensive. These delays are not sustainable andmany of our vendors are at risk of going out of business, too. As a supplier, we are trying to balance our needs with the long-term survival of our vendors.” As far as returning to pre-lockdown levels, he’s estimating third quarter of 2021. “That’s today’s estimate. There is more risk that it will be later than this time frame versus recovering earlier.” Still, Lage believes there’s plenty to be optimistic about. “We are learning how to do business differently; working fromhome will create new and different jobs for the future. Our salespeople have new tools to use in conducting virtual sales meetings and trade shows, and we are learning how to communicate differently with our own associates and partners. We will look back on this time and realize this is when our industry truly hadmeaningful change. We will come out of this, and those whomake it will be stronger andmore prepared for the future.” The pandemic was a catalyst for change inmany companies, including Lage’s. “We now have a more strategic focus on products, structure and purpose,” he says. “We need to find ways to be profitable Adrienne Forrest Vice President, Corporate Sales, Citizen Watch America Paul Lage, MAS President, IMAGEN Brands Customers will be relying more heavily on suppliers who have stock on the shelf since lead times overseas will be greatly impacted. Adrienne Forrest, vice president, corporate sales for Citizen Watch America FEATURE | Supplier Insights 44 | JULY 2020 |