Mtsogoleri wamkulu wa Blue Nile Akupereka ku Morgan Stanley Technology, Media & Telecom Conference (Transcript)

Malingaliro a kampani Blue Nile, Inc. (NASDAQ:NILE) Morgan Stanley Technology, Media & Telecom Conference February 26, 2013 5:30 PM ETExecutivesHarvey Kanter Purezidenti & Chief Executive OfficerDavid Binder Chief Financial OfficerAnalystsAndrew Reid Morgan StanleyAndrew Reid Morgan StanleyHi, dzina langa ndine Andrew Reid. Im Morgan Stanleys Small Cap eCommerce Analyst ndi Im adalumikizana ndi Harvey ndi David, CEO ndi CFO motsatana ndi Blue Nile. Tinali okondwa kukhala nawo lero. Zikomo pobwera.Harvey KanterOh zabwino kukhala pano, zikomo.Andrew Reid Morgan StanleyChoncho ine ndikuganiza Id ndimangofuna kuti ndiyambe ndikufunsa pang'ono za momwe 2012 idayendera molingana ndi zomwe mumayembekezera. Harvey, mudalowa nawo mu Marichi wa 2012 kotero sichaka chathunthu kwa inu kotero zina mwazinthu zomwe zidayenda bwino, zina mwazinthu zomwe mukuwona ngati mutha kusintha pano mu 2013.Harvey KanterSure. Chabwino, mwina sichingakhale chaka chathunthu koma zikuwoneka ngati banja lomwe ndingakuuzeni. Tinaphimba malo ambiri. Tinali okondwa kwambiri ndi zotsatira zathu. Dichotomy yosangalatsa ngati mungafune ndife okondwa ndi zotsatira zathu komabe tidagwa, kunena kwake, kuperewera kwa chitsogozo. Ndipo ndiye dichotomy. Koma tinali ndi dongosolo lalikulu kwambiri. Chomwe chinali chosangalatsa kwambiri ndi kuthamangitsidwa kotsatizana kwa zotsatira zathu. Chifukwa chake kwa inu omwe simukuchidziwa bwino, mu ziwerengero zozungulira tidachoka ku 3 mpaka 13 mpaka 20 ndikuthamangira ku Q4.Bizinesi yathu yayikulu, yomwe ndikuganiza kuti chinthu chosangalatsa kwambiri chidakwera kwambiri. Tinakhala ndi zotsatira zabwino kwambiri komanso kuchitapo kanthu ndipo kwenikweni chinali chipambano chapamwamba kwambiri pakuchita bwino komanso kukula pang'ono pazaka zopitilira zisanu. Ndipo tinalinso ndi chidwi chachikulu chokulitsa maakaunti amakasitomala atsopano, ndipo tidatsala pang'ono kukumana ndi makasitomala apamwamba kwambiri m'mbiri ya kampaniyo mkati mwa kuponya miyala koma inali kukula kwapamwamba kwambiri pazaka zopitilira zisanu. Choncho zimenezo ndi zotsatira zabwinodi. Tinatha chaka pamodzi ndi 15%; tinamaliza Q4 pa 21%. Tinali ndi chiwonjezeko cha 16% cha ndalama zonse zomwe timapeza ndipo ndi zotsatira zabwino kwambiri. Zomwe ndimanena kuti ndikumva ngati zaka ziwiri ndidabwera mwezi wa Marichi, tidakonzanso pang'ono gulu lina. Tidathamanga kwambiri potengera magawo ena abizinesi yathu ndipo tidakhala miyezi itatu kuyesera kuti tikonzekere Q4, ndipo Q4 monga ambiri ainu mukudziwa kuti sinali ya Q4 yomwe aliyense amayembekezera. Ndipo kotero zinali ngati malo ovuta kuchita zonsezi. Ndiyeno tinamaliza chaka pamalo abwino kwambiri. Chifukwa chake zinthu zathu zidagwiritsidwa ntchito mpaka chaka chatha. Zinatuluka zosafunikira kwenikweni ngati mungatero zomwe zinali zosangalatsa kwambiri ndipo tinkaganiza kuti tinali okonzekera bwino 13. Ndipo talemba kukula kwatanthauzo m'gulu limenelo. Pomaliza, ndinganene kuti ena mwa inu mudamvapo tikukamba za kusachita chibwenzi, ndipo anali okondwa kwambiri kupitiriza kumanga pachimake cha chinkhoswe. Koma m’kusachita chinkhoswe, sizinachitike monga momwe timayembekezera. Titanena izi, tikuganizabe momwe tidalowera, komwe ndikukulitsa kuchuluka kwamakasitomala kuti agwiritse ntchito gawo lachikazi la ogula athu pamlingo wapamwamba ndikukulitsa bizinesi yobwerezabwereza yomwe imachitika osachita nawo ogula akazi ikadali mwanzeru. njira yoyenera.Tinali kusintha momwe timachitira izi pamlingo wanzeru koma ndikofunikira kuti mudziwe kusasinthika komwe tikupitilizabe kupita patsogolo pankhani yoyendetsa kwenikweni yomwe ili njira, chifukwa chosowa malangizo abwinoko. Ndipo ine ndikanati ayenerere izo monga nthawi kuposa kusintha kwa strategy.Andrew Reid Morgan StanleyZikomo. Ndiye ngati tiyang'ana komwe muli malinga ndi kasitomala mubizinesi yokhudzana ndi osagwira ntchito komanso kusakanikirana kwa malonda, kodi mungalankhule pang'ono za momwe mukuwona kuti zikusintha? Ndikuganiza kuti mukuchita nawo zinthu zikuwoneka ngati zinthu zikuyenda bwino. Popanda chinkhoswe, kodi zikhala kuti mukufuna kuwononga ndalama zambiri zamalonda kuti mugulitse gulu lalikulu la makasitomala kapena mukufuna kutenga gulu lamakasitomala lomwe muli nalo ndikungogulitsa pazokonda zawo zambiri? KanterIts kwenikweni onse. Ndizoseketsa mukafunsa funso lomwe simungathe kuliyankha mwachindunji, koma ndizoseketsa chifukwa moona mtima pali zoyeserera zomwe ndingathe kuzifotokoza zomwe zimakwaniritsa kukhathamiritsa kwamakasitomala omwe tili nawo. . Tikukhulupirira kuti pali mabizinesi ochulukirapo pothana ndi zosowa zake atapanga chinkhoswe, omwe ndi kasitomala wathu wamkulu komanso iye, ndipo akubwera kale patsamba. 60% yamagalimoto athu amapangidwa ndi ogula achikazi ndipo timakhulupirira kuti pali mwayi woti azichita nawo zinthu moyenera. Ndipo tinali kuchita zinthu zambiri zomwe titha kuyankhulana nazo kuti tipeze mwayi ndi iye pankhani ya ndalama. Choyipa chake ndi zomwe tikufuna kupeza, tili ndi chiyembekezo choti makasitomala ambiri abwera kwa ife chaka chino kudzera muzofunikira zathu zogulira monga momwe tidachitira chaka chatha pa nambala yeniyeni, ndipo ndizofunika kwambiri. Ndiye ngati ndikanatha kungoyang'ana pang'ono. Ndikufuna kulankhula za zomwe anali kuchita kuti kwenikweni kukhathamiritsa kasitomala panopa ndi zinthu ziwiri zazikulu kwambiri njira. Mmodzi ndi utithandize mlingo wa mbali magwiridwe kuti n'kofunika kwambiri kwa ife monga Intaneti wosewera mpira kulenga zambiri a, chifukwa chosowa njira yabwino kunena izo njerwa ndi matope chilengedwe momwe angathere m'njira zomveka; kotero kuwonera kwatsamba kapena kuwonera kwazinthu, kanema wa 3600, zithunzi za diamondi zathu, chojambulira bandi chomwe chimatha kulumikiza magulu ochulukirachulukira pazochita zilizonse powonetsa kuti ndi magulu ati omwe amalumikizana nawo. Izi zimawoneka ngati zachikale pamlingo umodzi koma zowona zake sizinali zotsogola muzinthu zonsezo momwe timafunira. Winawo womwe ungagwirizane ndi kasitomala wapano koma kumupangitsa iye komwe akufuna kukhala pomwe akufuna kukhala pachibwenzi, zomwe zimayamba ndikupanga kufanana kwa PC yathu pama foni onse am'manja. Chifukwa chake timakonda kuganiza kuti tidapanga mawu akuti [phablet] ngakhale tikudziwa kuti sitinatero, koma phablet kwenikweni ndi foni ndi piritsi. Ndipo chimodzi mwazovuta kwambiri ndi magwiridwe antchito amphamvu pa PC omwe samamasulira lero ku malo ochezera osatsegula a mafoni. ya njira yabwinoko yonenera, otsutsa njira komanso kukhala ndi msakatuli womwewo. Mukatero mudzatha kupanga zodzikongoletsera zanu, kusaka kwa diamondi kwapamwamba ndi zinthu zambiri zomwe zidzayang'anire kasitomala wamkulu komwe akufuna kuyankhidwa, akalolera kupeza bizinesi yathu. Koma izi zikulitsa kasitomala wamkulu, yemwe tili naye masiku ano. Kenako mwachiwonekere pamene tikusintha bizinesi yathu, tikupitilizabe kugulitsa zinthu zathu, tikukhulupirira kuti tipitiliza kukulitsa mtundu wa Blue Nile ndikupanga chidziwitso chabwinoko. pazomwe timayimilira ndikugulitsa kasitomala watsopano. Ndipo ndicho chifukwa chake ndinanena zonse ziwiri.Andrew Reid Morgan Stanley Chabwino. Chifukwa chake tikayang'ana zomwe mwangodutsa kumene, ndikuganiza kuti mwayi umodzi wosangalatsa womwe muli nawo ndikulowa mubizinesi yomwe simukuchita nawo bizinesi. Ndikuganiza ku mfundo yanu sizinayende bwino monga mukadakonda mu 2012 koma mwina zikadakhala chifukwa chavuto lachuma chakumapeto kwa chaka. kwa wogula wina yemwe ati azigula ndipo anthu ambiri angaganize kuti izi zikufunika mtundu kapena mukupita kukagula zodzikongoletsera kuchokera kwa opanga dzina.Harvey KanterMukudziwa, pali zinthu zitatu zazikulu zomwe zikuyesera kukwaniritsa. Chimodzi ndi chidziwitso chosavuta komanso chosavuta. Ndingakuuzeni kuti chitsanzo chabwino, pa Tsiku la Valentines ndinagula mwana wanga wamkazi yemwe si kasitomala wathu, koma ndinamugulira zodzikongoletsera za Tsiku la Valentines ndipo anandifunsa kumene ndinazipeza. Ndipo zinali ngati mesmerizing kuti iye akanakhoza kufunsa za sitolo zodzikongoletsera koma iye ankaganiza kuti zinalidi kwambiri. Linali la Valentines Day ndipo zoona zake n’zakuti anandiuza kuti anakumana ndi zimene anthu ambiri ankati munazitenga kuti? ali ndi zaka pafupifupi 30 ndipo akuchita bizinesi. Sitinamusinthe kudzera muzochitika zazikulu zamoyo ndipo ndicho chimodzi mwazovuta, chomwe chiri mutagula mphete yachinkhoswe pali masiku obadwa, zikondwerero, pali mphatso za Bar Mitzvah, pali mphatso za amayi wazaka 75. Pali zinthu zonse zomwe titha kuchita ndipo sitigwira ntchito yabwino mokwanira, ndiye chinthu chimodzi. Chinthu chachiwiri, zomwe timayesera kuchita ndikuganizira zosintha mbali yosagwirizana ndi bizinesi yathu ndikusinthira malingaliro athu. Chifukwa chake ena mwatimvapo tikulankhula za mafashoni ndipo chimodzi mwazinthu zomwe kuyang'ana kumbuyo ndi 20/20, tidapita patali pang'ono pamafashoni ndipo tinalibe chidziwitso chokwanira kuti timvetsetse pomwe tidadutsa njira yosinthira digiri yomwe tinkafunika kusinthika. Ndipo kwa ife, kusachita chibwenzi ndi magulu, zodzikongoletsera za diamondi ndi zomwe timatcha mafashoni ena omwe ndi miyala yamtengo wapatali, siliva, ngale, golidi, ndi Im kuyiwala imodzi. Mbali ina ya bizinesiyo, mafashoni enawo tinapita patali kwambiri, ndipo makamaka kasitomala adanena Zomwe zinali zabwino kwambiri kuphunzira, koma makamaka tinapita patali kwambiri malinga ndi msinkhu wa mafashoni mu kusakaniza. Kumbali inayi, titadumphira mozama zaka zisanu za data tidamvetsetsa kuti gawo lomwe sitinachite ndikukulitsa mabizinesi athu ena omwe amamveka bwino pogwiritsa ntchito zomwe tidakhala nazo m'nyumba zomwe zidati zodzikongoletsera za diamondi zinali. mwayi waukulu kuposa momwe timayembekezera.Choncho titakula mafashoni, osachita chibwenzi tidatsata zinthu monga miyala yamtengo wapatali. Tinatsatira zodzikongoletsera za diamondi koma kuwerengera kwathu sikunali kukula muzodzikongoletsera za diamondi pamlingo womwewo monga mbali ya mafashoni a bizinesi; mwachitsanzo, miyala yamtengo wapatali ndi zinthu za chikhalidwe chimenecho. Ndipo poyang'ana m'mbuyo 20/20, tinali ndi kasitomala kutiuza kuti akufuna zodzikongoletsera za diamondi. Kuthamanga kwa zodzikongoletsera za diamondi kunali bwino, zokolola zinali bwino. Kuwerengera kalembedwe sikunali kolimba. Mosiyana ndi zimenezo, tinatsatira mbali yamtengo wapatali ya bizinesi osati mafashoni ena omwe sanagulitse koma tinali osanjidwa mopitirira muyeso, sizinali zopindulitsa monga momwe zimafunikira. Chifukwa chake tinali kusonkhananso mu izi ndipo pakapita nthawi tikuyembekeza kuti bizinesi yathu yosagwira ntchito idzasintha. Chifukwa chake, ndidanenanso kale kuti ndikutsata zomwezo koma mwanzeru momwe timachitira ndi zomwe taphunzira mchaka chino. Ndipo moona mtima, Board, timamva bwino kwambiri za kuphunzira chifukwa tikadapanda kuphunzira ndi bizinesi basi sanagwire ntchito ngati kwambiri homogenized, zotsatira zathu, ife wouldnt tawona luso, roadmap kuwongolera mu malo atsopano.David. BinderNdikuganiza kuti nayenso chidwi, ngati inu muyang'ana pa kukula msika kotero tikayang'ana sanali chinkhoswe, msika addressable mu United States zake pafupifupi $50 biliyoni onse. Izi zikuphatikiza magulu aukwati omwe tikulankhula kale ndi makasitomalawo, ndipo magulu aukwati mwina ndi $4 biliyoni mpaka $5 biliyoni ya msika wonse womwe ungagulitsidwe. Zodzikongoletsera za diamondi ndi pafupifupi $25 biliyoni ndipo ndiwo omvera omwe mbali ina anali kulankhula nawo chifukwa amalankhula ndi munthu yemwe akubwera pamalowa, yemwe akuyesera kumvetsetsa za diamondi. zomwe zingamuuze kuti agule. Zimalankhula ndi zinthu zapadera za chain chain yathu, kuti tili ndi mwayi wampikisano. Kotero ena a msika addressable, zidutswa zazikulu za msika addressable anali kulankhula kale ndi makasitomala kudzera zimene akuchita pa chinkhoswe side.The kutambasuka mu zina mwa zinthu zambiri mafashoni amene ali kunja kwa diamondi zodzikongoletsera kapena kunja kwa magulu ukwati ndi mwayi waukulu kwa ife ndipo titha kukulitsa omvera omwe timalankhula nawo, mwa zina chifukwa ndi kumbuyo kwa mtundu womwe umapanga zinkhoswe komanso magulu aukwati ndi zodzikongoletsera za diamondi. Pali zambiri pafupipafupi kumeneko, omvera ake okulirapo koma chinachake chimene ife tikhoza kukula pang'onopang'ono pamene analidi kupezerapo mwayi lalikulu mkati mwa diamondi zodzikongoletsera ndi ukwati band.Andrew Reid Morgan Stanley chiwerengero cha amuna? Kapena mumasintha bwanji kuti mugulitse mphete ya chinkhoswe kwa mwamunayo, bwenzi lake, ndiyeno kumupangitsa kuti atenge mkazi wake Harvey KanterTheres mwina njira zingapo zosiyana. Imodzi ndi malonda athu akupita patsogolo. Chifukwa chake makonda, kutsatsa kwanthawi zonse sitinawonjezere mwayi umenewu. Chifukwa chake ndidatchula ali ndi zaka 30 ndikugula mphete yachinkhoswe, zochitika zonse zomwe zimachitika pambuyo pake sitinakulitsa izi. China chake ndikuti, mudafunsa funso kuti tiyenera kumuyankha mosiyana sitimuyang'ana ngati kasitomala wodziwika yemwe ali ngati Blue Nile ndi bizinesi ina. Akubwera kale pamalopo. Shes kugula zinthu zambiri zomwe zili patsamba. Sitinali kukulitsa izi kudzera muzopereka zonse. Ife takhala mwachilungamo malire. Gawo la bulldog la bizinesi yathu ndi makasitomala atsopano omwe satidziwa ife kusiyana ndi makasitomala osiyanasiyana, kotero momwe mudawonetsera funso pang'ono pang'ono malingaliro athu ndikuti tilibe makasitomala ena. Tiyenera kuchita naye mwanjira ina.Andrew Reid Morgan StanleyOkay. Ndipo Dave, mumalankhula za data ndikudutsa zaka zisanu za data m'mbuyomu. Ndiukadaulo wamtundu wanji womwe mumabweretsa panjira yanu yogulitsira malonda? Kapena mukaganizira za momwe mungakulitsire bizinesi yanu, mumagwiritsira ntchito bwanji deta kuti muthe kupanga zisankho zabwino? Zinayambadi ndikugulitsa zomwe zinali 20,000 kapena 30,000 diamondi zotayirira tsopano mpaka 150,000 diamondi zotayirira, ndikumvetsetsa momwe mungakulitsire liwiro, kutembenuka; ndipo makasitomala akaganiza zogula ndi pomwe satero kuti tithe kukulitsa malire ndi malonda. Chifukwa chake pali zida zakuya zowunikira zomwe zimafalikira mozama m'bungwe lathu lonse kuti timvetsetse zomwe zimagwira ntchito ndi zomwe dont.Whats zidachitika zaka zitatu kapena zinayi zapitazi tawonjezera zidazo kuti timvetsetse momwe mungakwaniritsire ndalama zogulitsira makasitomala ndi momwe angagulitsire. kukhathamiritsa malonda a zodzikongoletsera zopanda chibwenzi. Ndipo ndicho china chake chomwe chakhala chatsopano kwa ife: kusintha zidazo ndikupatsa mphamvu anthu omwe amayendetsa kampaniyo kuti agwiritse ntchito kusanthulako kuti adziwe chomwe chili choyenera komanso mtengo wake. , zida zowunikira zambiri pamaziko a Blue Nile sitinakhale ndi luso lazamalonda. Ndipo kotero pamene tidayambitsanso njira yathu kumayambiriro kwa 2012 ife mwa zina tinazindikira kuti ndife amalonda, ndipo pamene tikukulitsa malonda omwe timagulitsa timafunikira ogulitsa. Tikufuna anthu, amalonda omwe angagwiritse ntchito detayi m'njira yosiyana kuti akulitse assortment, ndiyeno Harvey.Andrew Reid Morgan Stanley Chabwino. Ndipo ine ndikuganiza kutenga sitepe imodzi patsogolo ponena za kubweretsa zinachitikira ritelo, whats maganizo anu ponena za kuyesera kupita kunja ndi kupanga mabwenzi ambiri, maubwenzi monga muli ndi Monique Lhuillier kwenikweni mtundu wa galimoto mtundu kuzindikira pa Blue Nile?Harvey KanterYeah , Monique Lhuillier wakhala nkhani yopambana kwambiri. Tinagundadi ma number athu ndipo ndinacheza naye David, iyeyo ndi amene ankaganiza kuti tikukwera kwambiri koma tinali ndi zotsatira zabwino kwambiri. Tinasangalala nazo kwambiri. Chosangalatsa ndi gawo la zomwe watichitira ndikutibweretsera cache monga wopanga, akutibweretsera mawonekedwe a mafashoni. Mtengo wake wapakati ndi wokwera kuposa mitengo yathu yamakono; malire ake ndi okwera pang'ono kuposa malire athu apano koma zomwe watichitira zili ndi mwayi wochulukirapo. Chosangalatsa chake kavalidwe kake, momwe zimamvekera, wagulitsa bwino kuposa mawonekedwe ake apamwamba kwambiri omwe amagwirizana bwino ndi mbiri yathu yosakhala pachibwenzi mu Q4. Koma zomwe amachitidwanso zimapangidwira kumvetsetsa kuti si kampani ya akwati. Chifukwa chake ndimauza ena m'mbuyomu masana kuti atagunda, sabata yoyamba yomwe adagunda tidagulitsa mayunitsi 21 ndipo sizikumveka ngati zambiri. Koma pamene mtengo wake wapakati ndi $8000, $9000 ndi nambala yopindulitsa. Mayunitsi 21 anali ndi mayunitsi 13 a makonzedwe a chinkhoswe cha akwati ndi mayunitsi 8 a magulu, ndipo izi mwazokha nthawi zambiri zimakhala mwezi umodzi kapena itatu. Koma makasitomala ankadziwa kuti iye anali pa malo ndi miniti iye anagunda izo sold.Chinthu chachiwiri chimene chimasangalatsa kwambiri ndi chakuti magulu mbiri sagulitsa pa mlingo umenewo wa chiŵerengero kwa ife ndi chifukwa chake ndinatchula mfundo yakuti timakhulupirira kuti tili ndi gulu. mwayi wowonjezera kuchuluka kwa ma attachments. Koma zomwe tikuwona ndikuti akazi ambiri pachiyambi anali kugula magulu omwe kwenikweni anali a zodzikongoletsera, osati kuti akhale gulu laukwati kuti apite ndi mphete yaukwati. Ndipo kotero ife timakhulupirira kuti mwayi kukula zodzikongoletsera mafashoni ndi Monique n'kofunika ndi bwino kwenikweni kuyambitsa pang'ono zodzikongoletsera mafashoni ndi Monique mu theka lachiwiri la chaka chino. Tikukhulupirira kuti ngati titha kubweretsa china chomwe tinganene kuti ndi cache, wopanga wamkulu wotsogola wamakampani yemwe angawonjezere bizinesi yathu Ndipo sitinkayang'ana kungobweretsa ma brand ndi ma nameplates chifukwa Blue Nile ikufuna kukhala yodzipatula ngati diamondi, ndi chinthu cholemera komanso chatanthauzo. Koma pamene mtundu umapanga ambulera ya mafashoni kwa ife, kugwirizana kwambiri ndi amayi ogula chifukwa tikudziwa kuti amayi amawongolera kugula kumeneko sabata yoyamba, osati amuna; ndipo ali kale ndi chidwi ndi zodzikongoletsera timakhulupirira kuti pali chokwera komanso chopereka chamtundu. Ndipo ndimafufuza izi koma ndikukuwuzani kuti ndikuwotcha pang'onopang'ono. Sanali kuyang'ana kungowonjezera mayina chifukwa cha mayina.Andrew Reid Morgan StanleyOkay. Ndiye mukuganiza kuti mukamayang'ana, ndipo sindikufuna kunena kuti pangani mbiri yamakampani kapena opanga koma izi zikhala zokwanira kuthetsa zomwe muli nazo pa intaneti, omwe akupikisana nawo pamenepo? Chifukwa ndikuganiza ngati mutangoyang'ana, kaya ndi masitolo akuluakulu kapena ogulitsa miyala yamtengo wapatali, amawononga ndalama zambiri pa malonda. Ndiye mumapeza bwanji mtundu wa asymmetric potengera bizinesi yanu kuti mupikisane nawo? Tidzakhala osankha kwambiri pazomwe timabweretsa mu bizinesi ya Blue Nile, nambala wani. Nambala yachiwiri, chomwe tikuyang'ana ndi, ndipo Moniques chitsanzo chabwino chomwe adadziwika kuti ndi m'modzi mwa akazi 50 amphamvu kwambiri mu 2011. Shes m'modzi wapamwamba Amati ndiye wopanga 14 wolemekezeka kwambiri padziko lonse lapansi mwa 15 apamwamba. Amatibweretsera chinthu chomwe chimagwirizana ndi zomwe timachita, ndipo pamene tikuyang'ana kuti tibweretse mafashoni ambiri kapena zina zambiri za zomwe amachita, zomwe amayesera kuchita ndikusintha malingaliro kuti sizikukhudzana kwenikweni ndi kachilomboka. chikhalidwe cha zomwe amachita komanso zinthu zapadera zomwe amachita. Chifukwa chake ngati simukudziwa zambiri za Monique, zinthu zina zomwe zimathandizira ndikuti ali ndi zovala zapadera masiku ano. Anangoyambitsa nsapato za ku Italy. Amadziwika bwino mu kapeti yofiyira ya Oscars, Kodi mwavala chiyani? Shes m'modzi mwa anthu omwe anthu amati amavala, tsopano akuvala zodzikongoletsera komanso mikanjo yake.Ndipo pali kachilombo komwe ali ndi Facebook yayikulu, kutsatira Twitter, kutsatira Pinterest komanso komwe kumagwirizana bwino ndi chikhalidwe chathu. Zochita zapa media pomwe ndife otsogola padziko lonse lapansi pa Pinterest ndipo ndikutanthauza kuti kwenikweni. Palibe zodzikongoletsera zazikulu kuposa ife pa Pinterest ndipo ndife amodzi mwa otsogola padziko lonse lapansi pa Facebook. Ndipo kotero pali chinthu chofunikira kwambiri chomwe sitingakankhire chizindikiro malinga ndi mapulogalamu osatsatsa pa intaneti a la Macys chifukwa sife ochita malonda wamba. Zokhudza kukambirana, kuchitapo kanthu komanso kuyesetsa kwa ma virus komanso zomwe Monique amatibweretsera ndizinthu zambiri zomwe zimakhalapo. idatsika kuyambira pomwe idapereka lipoti la Q4. Ndipo mwayika malo angongole. Mwagulanso $ 40 miliyoni pazaka ziwiri zapitazi. Kodi pali mwayi pano woti tichitepo kanthu potengera kubweza ngongole kapena china chake chokulirapo?Dave BinderChoncho bwino kuti katundu wathu adabwera pang'ono ndalama zathu zitatulutsidwa, ndimangofuna kumveketsa bwino. Chifukwa chake ndikutanthauza kuti tikupitilizabe kuwona kugulidwanso ngati njira yabwino yoperekera mtengo wa omwe ali nawo. Bizinesi yathu ndi yolemera ndalama; tili ndi njira yolakwika yogwirira ntchito yomwe ndikutsimikiza kuti anthu ambiri akuidziwa. Ndi kukula timapanga ndalama zochulukirapo kuposa zomwe timapeza, motero timakhulupirira kuti kugwiritsa ntchito ndalamazo kuti tiwombolenso magawo ngati mwayi ukupezeka ukadali njira yabwino yopindulira omwe ali ndi nthawi yayitali. pangani kuti muwonjezere izi kukhala kapu kapena kuchita chilichonse chachikulu kapena chochulukirapo mwachilengedwe. Ndikofunikira kukulitsa zokolola ngati sitikumva ngati tikupeza mtengo woyenera pamsika wathu. Ndipo ndikuganiza kuti ndi chinthu chabwino kwambiri kunena kuti masheya athu amakhala osasunthika kwambiri, ndipo ngati ali m'nyengo yosasinthika pomwe mtengo uli wocheperako potengera zomwe tikuganiza kuti kuwerengera kofunikira ndi gawo la bizinesi yathu kudziyimira pawokha komwe tikuganiza kuti kugwiritsa ntchito ndalama zochulukirapo kuti mugulitsenso masheya ndi chinthu choyenera kuchita kwa eni ake. Gawo la Mafunso ndi MayankhoAndrew Reid Morgan StanleyTiyeni titembenukire kwa omvera kuti tiwone ngati muli ndi mafunso. AnalystMwachitsanzo cha Monique, ngati mutatuluka pakiyi ndi mitundu ingati, ndi mayina angati omwe mungalembe motere pakapita nthawi? Ndipo ngati Ndine, ndiloleni ndikuyike mawu a pa intaneti ndikuganiza kuti mukumanga msika mkati mwa Blue Nile ndi mitundu iyi? Tilibe masomphenya kuti akhale 20 kapena 30 mtundu, tilibe masomphenya kuti awiri kapena atatu okha. Poyankha funso lanu lachiwiri ndi mtundu wosakanizidwa wa izi: tili ndi chikhulupiriro kuti zomwe zili komanso kukhala tsamba lawebusayiti lomwe silili chabe, chifukwa chosowa njira yabwino yonenera, tsamba lomwe limagulitsa katundu, lomwe limagulitsa zinthu. titha kukhala malo opatsa chidwi kwambiri kuti tizithera nthawi. Ndimanena izi kwambiri koma mkazi wanga ndi chitsanzo chabwino. Ndikunena kuti nthawi zambiri amakhala pabedi usiku, amawonera TV ndi piritsi yake komanso zomwe ndikuwona, chiyembekezo changa pabizinesi yathu ndikuti tikhala amodzi mwamalo omwe amangopitako kuti akwaniritse. Ndipo kotero panthawiyo ngati Blue Nile ndi gawo lofunika kwambiri la moyo wake, nthawi iliyonse akaganiza za zipolopolo zodzikongoletsera bwerani ku Blue Nile. Ndipo amachita Huffington Post kapena zinthu zamtunduwu komwe amangoyang'ana zomwe zikumveka. Ngati tiyendetsa zomwe zili molingana ndi okonza komanso osati zomwe opanga akugulitsa koma zomwe zili pamsewu, pomwe zikuwonetsa, zomwe zili zoyenera, kugundana komweko kuli kowoneka bwino munjira yabwino yamalonda ndi zomwe zili zipangitsa mtundu wa Blue Nile kukhala weniweni. olemera gawo la moyo ogula ndi kutis kwenikweni zimene potsiriza kuyesera kuchita. Ndipo panthawiyo, akakhala pampando wokhala ndi piritsi amakhala ndi njira yabwino kwambiri yosinthira ndikukhala ndi kasitomala wokhulupirika kwambiri. Ndipo opanga ambiri mwachisawawa sapanga kasitomala wokhulupirika modabwitsa. Ndipo opanga ambiri mwachisawawa samapangitsa kuti izi zichitike. Okonza oyenerera omwe amapanga zomwe zili zoyenera kwenikweni zokambiranazo zinali kuyesera kupanga.AnalystNdipo pa mfundo imeneyo muli ndi zodzikongoletsera zabwino kwambiri m'sitolo yanu, ndipo mwachiwonekere zimachokera kwa anthu omwe amapanga zinthuzi bwino kwambiri pamtengo waukulu wamtengo wapatali. Ndiye ndikuganiza zomwe sitikumvetsetsa ndizakuti ndi opanga angati omwe mukugwira nawo ntchito tsopano monga okwana? Ndipo mukagulitsa munthu ngati Monique, zimasintha bwanji tchanelo chomwe muli nacho kale? Ndipo inunso mukupita kuti ndi zimenezo, chifukwa ndikuganiza kuti mbali yake ndi yakuti sitikumvetsa kuti ndi anthu angati okonza omwe mukugwira nawo ntchito kale. Tinabweretsadi, kuyambira kusinthika kwa malonda mu bungwe, Design Director. Ndiwophunzira ku Philadelphia School of Jewelry Design, ndipo ndi mayi wophunzira wazaka 45 yemwe wakhala akuchita bizinesiyo nthawi yayitali. Ali m'nyumba mwathu ngati director of design, ndipo ndiye mutu wake Director Design. Beyond Monique palibe kapangidwe kake ngati mungafune opanga ambiri. Timagwira ntchito ndi gulu lodziwika bwino la ma supplier ndipo ma supplierswa ali ndi mapangidwe amkati ndipo amatipangira ife, koma siopanga cache. Ndi zomwe iwo ali ndi opanga m'nyumba, ndipo izi ndi za bizinesi yathu ya zodzikongoletsera komanso bizinesi yathu yokhazikitsa. Ndi malo ocheperako abwino, kotero tili ndi ubale wautali ndi anthu awa. Koma iwo ndi mbali ya kampani yawo yokonza mapulani ndipo amapangira kampani yawo yotakata, ndiyeno kagawo kakang'ono kamene amapangira ife.Andrew Reid Morgan StanleyIll ingosokoneza ndi ina apa. Chifukwa chake mu 2012 inu anyamata mudapindula pang'ono koyambirira kwa chaka ndi ma comps osavuta pakutsika kwamtengo wa diamondi pachaka. Monga momwe zinalili mu 2013 tsopano inu anyamata muli ndi chitsogozo pamsika chomwe chimaphatikizapo mtundu wa kuyerekezera kwa 5% mpaka 10% kuwonjezeka ngati ndikukumbukira bwino. Kodi zimayamba kuti kukhala zovuta kuti mupitilize kukula bizinesi yanu yachinkhoswe pamene mitengo ya diamondi ikukwera? , ndipo panali kutsika kwamitengo komwe kumayendetsedwa bwino pang'onopang'ono. Awa ndi malo omwe m'mbuyomu Blue Nile idakulitsa bizinesi yake pamitundu iwiri. Ndipo kotero ife timamva ngati kuti akadali malo omasuka kumene mtengo maganizo kuti tili ndi resonates.If tiona anakwera kusakhazikika patsogolo ndi kuyamba kuona kukula kwa mitengo diamondi kuti chuma pamwamba 10% bwino mwina kupeza pang'ono nkhawa kuti. tikhala mu nthawi yovuta ngati momwe zinalili mu 2011. Koma mbiri yakale ndi kutsika kwamtengo wapatali kwa Blue Nile ili bwino kuti ikule.Andrew Reid Morgan StanleyNdipo kotero ngati tiyang'ana pa 2013, kodi mungathe kuwonetsa mwayi wapamwamba wapamwamba kapena zipatso zotsika? Munatchula za gulu la gulu-Harvey KanterYeah, ndinganene kuti palibe kukayikira mipata itatu yayikulu ndikusintha malonda ndi kutsatsa, ndipo ichi chakhala chimodzi mwazifukwa zomwe ndidalembedwa ntchito komanso chifukwa chomwe ndidalowa nawo. Yachiwiri ndi mafoni a parity mobile parity ndikubweretsa magwiridwe antchito a PC kumalo otengera mafoni ndikuwonjezera magwiridwe antchito m'malo onse ndikofunikira kwambiri paukadaulo. Kenako yachitatu yomwe sitinalankhulepo konse koma ndi yapadziko lonse lapansi. Tikukhulupirira kuti msika waku Asia-Pacific ndi msika weniweni, watanthauzo. Ena a inu mwawonapo tidalengeza za mgwirizano ndi [Sho], tapanga ndalama kwa mnzako chaka chapitacho, [Vay] yemwe ali ndi malo ogulitsa njerwa ndi matope. Purezidenti wathu wapadziko lonse lapansi adapita ku Asia katatu chaka chino ndikupita sabata yamawa. Ndikofunikira kwambiri ndipo tikukhulupirira kuti msika waku Asia kwathunthu udzakhala msika waukulu kwambiri padziko lonse lapansi kwa ife ndipo kukula ndi mwayi waukulu womwe tili nawo. Kotero amenewo ndi athu atatu aakulu, malingaliro aakulu.Andrew Reid Morgan StanleyChoncho mwayi uliwonse woti mutengepo mbali pa izo, munatchulapo mwina 1.7 miliyoni mpaka 2.0 miliyoni maukwati kapena maukwati chaka chilichonse, kukulitsa gawo la msika pachinkhoswe pachimake?Dave BinderYeah, bwino ndi Kukula kwa 2012 mozungulira 20% mubizinesi yathu yolumikizana ku US kunali kugawana nawo ndipo ndiye dongosolo. Tikuwona msika ukukula pang'onopang'ono, kotero kuti tikule kwambiri tinali kutenga nawo mbali ndipo ndilo dongosolo. Tikuganiza kuti anali opitilira 4%, akuyandikira 5% ya msika ku US pafupifupi msika wa $ 5 biliyoni wa anthu omwe amawononga mphete zachinkhoswe. Ndipo ife nthawizonse ankaona kuti tiyenera kukhala awiri manambala amsika wosewera mpira ndipo ndi njira imene inali pa. . Zowona kuti ogula akuyang'ana kuchita nawo ma foni am'manja ndipo tili ndi magwiridwe antchito olemera pa PC omwe sangathe kupezeka pa foni yam'manja nthawi zonse timaganiza kuti zisintha kwambiri zomwe tikuchita ndikuthandizira gawo loti tipitilize kulimbikitsa izi ngakhale titatero. zomwe zimachitika ndi mtengo. Ndipo ziwombankhanga zomwe tinali nazo chaka chatha, kaya tili nazo kapena ayi sitingakhale nazo pamlingo womwewo, koma palinso mfundo zina zowoneka bwino zomwe ziyenera kuthandizira ndikupitiliza kuyendetsa bizinesiyo.Andrew Reid Morgan StanleyOkay. . Pamene mukupitiriza kukula mu gawo lopanda chinkhoswe, kodi mukukhulupirira kuti izi zikhala zochulukirachulukira ndipo kodi izi zitha kukhala ndi zotsatira pakuyenda kwanu kwaulere? kugulitsa zinthu zosagwirizana. Kapangidwe ka mawu athu ndi kayendedwe ka ndalama zathu ziyenera kubweretsa ndalama zogwirira ntchito zopanda ndale kapena zolakwika. Ngati titha kutembenuza zinthu kanayi pachaka mawu athu amakhala oti titha kukhala pachiwopsezo chogwira ntchito. Pakapita nthawi, zingakhale bwino ngati titha kudziwa zambiri zamtundu wa katundu. Kotero ife tikhoza kuyesetsa zoipa ntchito likulu mu sanali chinkhoswe ndi kuphedwa zabwino koma ndi chiopsezo, ndipo ngati ife tingakhoze kufika kwa consignment chitsanzo ake ndi zochepa kwambiri kapena palibe chiopsezo.Harvey KanterImodzi mwa chidwi mfundo deta, ndipo mu mtheradi dollar voliyumu ake zatanthauzo m'mamiliyoni koma sizothandiza mu mamiliyoni ambiri koma ngati mungayang'ane patsamba lathu lero tili ndi Kusankha Kapeti Yofiira ndipo komwe kudaperekedwa makamaka mozungulira ma Oscars. Koma mu Q4 tidachulukitsa katatu zomwe timatcha bizinesi yathu yodabwitsa komanso kutumiza kwake kokha. Mitengo yake yamtengo wapatali kwambiri - $10,000, $20,000, $30,000 mitengo yamtengo kapena kupitilira apo koma ndi zomwe David adatchulapo poyesera kusintha gawo lalikulu la bizinesi yathu kuti litumizidwe. opanga kuyika katundu kwa $100 zinthu kotero ife dont kukhala ndi masomphenya kuti, koma pamene tikupitiriza kusamuka malonda athu luso kusuntha kuti chitsanzo kwambiri mu zodzikongoletsera ndi kwenikweni wolemera chigawo cha chitsanzo kuti ntchito bwino ndalama.Andrew Reid Morgan StanleyNdi momwemonso mtundu wa katunduyo uli m'mphepete mwabwino pambuyo pa malonda omwe mumayika kumbuyo kwake?Dave BinderPretty kwambiri. Sitikhala eni ake.Andrew Reid Morgan Stanley Mafunso ena aliwonse?