Blue Nile's CEO Anopa kuMorgan Stanley Technology, Media & Telecom Musangano (Transcript)

Iyo kambani Blue Nile, Inc. (NASDAQ:NILE) Morgan Stanley Technology, Media & Telecom Conference Kukadzi 26, 2013 5:30 PM ETExecutivesHarvey Kanter President & Chief Executive OfficerDavid Binder Chief Financial OfficerAnalystsAndrew Reid Morgan StanleyAndrew Reid Morgan StanleyHi, zita rangu ndiAndrew Reid. Im Morgan Stanleys Diki Cap eCommerce Analyst uye Im akabatanidzwa naHarvey naDavid, CEO uye CFO zvakateerana weBlue Nile. Takafara chaizvo kuva navo nhasi. Ndatenda nekuuya.Harvey KanterOh zvakanaka kuva pano, ndatenda.Andrew Reid Morgan StanleySaka ndinofungidzira Id ndoda kutanga nekubvunza zvishoma nezve rudzi rwekuti 2012 akafamba sei maererano nezvawaitarisira kuuya. Harvey, wakapinda muna Kurume wa2012 saka harisi gore rakazara kwauri saka zvimwe zvezvinhu zvakafamba zvakanaka, zvimwe zvezvinhu zvaunonzwa sekuti ungavandudza pazviri pano muna 2013.Harvey KanterSure. Zvakanaka, ringave risiri gore rakazara asi zvinoita sekuti vaviri ndinogona kukuudza. Takafukidza nzvimbo yakawanda. Taive takanakidzwa chaizvo nemaresults edu. Dichotomy inonakidza kana iwe uchida isu tinofara nezve zvatakawana uye zvakadaro isu tadonha, tichitaura, kuperevedza kwekutungamira. Uye saka ndiyo dichotomy. Asi isu taive nehurongwa hombe. Chainyanya kufadzwa nezvacho ndechekuteedzana kukwidziridzwa kwemhedzisiro yedu. Saka kune avo vasinganyatso jaira, munhamba dzakatenderedza takabva pa3 kusvika 13 kusvika 20 uye takawedzera muQ4.Our bhizimusi bhizinesi, iro ndinofunga kuti chinhu chinonyanya kufadza chakawedzera zvakanyanya. Isu takave nemhedzisiro ine chirevo uye kubatanidzwa uye kutaura chokwadi yaive iyo yepamusoro nhanho yekubudirira zvese mukuita kwakakwana uye kukura kwakasiyana mumakore anopfuura mashanu. Uye isu takavawo nedanho rakakura kwazvo rekukura maakaundi evatengi matsva, uye takapotsa tasangana nepamusoro-soro yevatengi vakakwana munhoroondo yekambani mukati mekukanda matombo asi yaive nhanho yepamusoro yekukura mumakore anopfuura mashanu zvakare. Saka iyo mibairo ine revo chaiyo. Takapedza gore pamwe ne15%; takapedza Q4 pa21%. Isu takave nekuwedzera kwe16% mumari inowaniswa uye saka iwo mhedzisiro ine musoro. Chirevo changu chekunzwa kunge makore maviri ndauya munaKurume, takarongazve zvishoma vamwe vechikwata. Takamhanya zvakanyanya pakutsvaga zvikamu zvebhizinesi redu uye takapedza mwedzi mitatu tichiedza kugadzirirwa Q4, uye Q4 sekuziva kwakawanda kwamunoziva yakanga isiri iyo Q4 yaitarisirwa nemunhu wese. Uye saka yaive mhando yenzvimbo yakaoma kuita zvese izvozvo. Zvino takazopedza gore tiri munzvimbo yakanaka chaizvo. Saka inventory yedu yakawedzerwa kusvika gore rakapera. Izvo zvakabuda zvisingaite zvakanyanya kana iwe uchida izvo zvainakidza uye isu takafunga kuti isu taive takanyatso mira 13. Uye isu takanyora kukura kwakakosha muchikamu ichocho. Chekupedzisira asi ndichiti vamwe venyu vakatinzwa tichitaura nezvekusapfimbana, uye vakafara chaizvo nekuenderera mberi nekuvaka pamusoro pepakati pekubatana. Asi mukusabatana, hazvina kuita zvese sezvataitarisira. Tataura izvozvo, isu tichiri kufunga zvine hungwaru kwanga kunanga, uko kukura kwemutengi kuverenga kuti tibatanidze chikamu chechikadzi chemutengi wedu padanho repamusoro uye kusimudzira bhizinesi rekudzokorora riripo mukusaita mutengi wechikadzi richiri zvine hunyanzvi. the right direction.Were evolving how we execute that at a tactical level but its important kuti uzive kuenderana kwatinoramba tichienda kumberi maererano nekutyaira chaiko ndiko kurikuronga,kushaikwa kweshoko ririnani rairo. Uye ndaizoikodzera senguva kupfuura shanduko yehurongwa.Andrew Reid Morgan StanleyNdatenda. Saka kana tikatarisa kwauri pauri maererano nehwaro hwevatengi mune zvese zviri zviviri bhizinesi rekuita uye risiri rekuita pamwe nemusanganiswa wekutengesa, unogona kutaura zvishoma nezve maonero aunoita izvo zviri kuitika? Ndinofunga mukubatana zvinoita sekunge zvinhu zviri kufamba zvakanaka. Mukusabatana, zvichave kuti iwe unoda kushandisa mari yakawanda yekutengesa kumusika kune boka rakakura revatengi vangangove vatengi kana kuti unoda kutora boka revatengi raunaro raunaro uye unongotengesa kune zvavanoda zvakanyanya?Harvey KanterIts chaizvo zvese zviri zviviri. Zvinosekesa kana iwe ukabvunza mubvunzo haugone kuupindura zvakananga, asi zvinosetsa nekuti chokwadi pane hurongwa huri kuitika hwandinogona kutaura hunonyatso gadzirisa mutengi wepakati watinaye, iyo yekare colloquial yeMutengi akanakisa ndiyo yaunayo. . Isu tinotenda kuti kune bhizinesi rakawanda mune zvese kugadzirisa zvaanoda mushure mekunge apfimbana, anova mutengi wedu mukuru pamwe chete naye, uye ari kutouya kuwebhusaiti. 60% yetraffic yedu inogadzirwa nemutengi wechikadzi uye saka tinotenda kuti pane mukana wekuita naye mune imwe nzira yakasimba. Uye tanga tichiita zvinhu zvakawanda zvatinga nyatso kutaura kuti tibatane uye nekuwedzera mukana naye maererano nemari. Iyo flipside yayo ndeye zvatinoda kutora, isu tine tarisiro ine vatengi vatsva vanouya kwatiri gore rino kuburikidza nekutora kwedu kwekutanga sezvatakaita gore rapfuura panhamba yakakwana, uye zvine musoro. Saka dai ndaigona Ill just segue a little bit. Ini ndoda kutaura nezve izvo zvanga zvichiitwa kuti zvinyatso optimize mutengi aripo zvinhu zviviri zvakakura zvehurongwa. Imwe iri kusimudzira nhanho yekushanda kwechinhu chakakosha kwatiri semutambi weinternet kuti tigadzire zvakanyanya, nekuda kwekushaya nzira iri nani yekuzvitaura nharaunda yezvidhinha nedhaka sezvinobvira nenzira ine musoro; saka kuona kwesaiti kana kuona kwechigadzirwa, 3600 vhidhiyo, mapikicha emadhaimani edu, bhendi matcher inova iyo yakanyanya kugona kubatanidza mabhendi akawanda kune ese ekuita kutengeserana nekuratidza chaizvo kuti ndeapi mabhendi anoenda nawo maringin. Idzo dzinoita sedzakareruka pane imwe nhanho asi chokwadi chenyaya haina kufambira mberi mune zvese izvo zvinhu sezvatinoda kuva. Imwe yacho inobata mutengi aripo asi inonyatso mubatanidze kwavanoda kuva pavanenge vachida kubatikana, izvo zvinotanga nekugadzira kuenzanirana kwePC yedu munzvimbo dzese dzenhare. Saka isu tinoda kufunga kuti takagadzira izwi rekuti [phablet] kunyangwe isu tichiziva kuti hatina, asi phablet inonyanya runhare uye piritsi. Uye rimwe rematambudziko mazhinji ekuita kwakasimba kwekuita paPC hakushandure nhasi kune browser-yakavakirwa nharaunda yenharembozha.Uye saka zvakawanda zvanga zvichiitwa kuunza izvo nzira yese kuburikidza, nekushaikwa. yenzira iri nani yekuzvitaura, chiteshi agnostics uye kuve neiyo yakafanana browser ruzivo. Panguva iyoyo iwe unokwanisa kuvaka yako zvishongo, kutsvaga kwedhaimani kwepamusoro uye zvinhu zvakawanda zvinozogadzirisa mutengi wepakati kwavanoda kugadziriswa, kana vachinge vachida kuwana bhizinesi redu. Asi izvo zvinokura mutengi wepakati, uyo watinaye nhasi. Uye zvino zviri pachena apo isu tichivandudza bhizinesi rekuita, ramba tichiisa mari muzvinhu zvedu zvekushambadzira, tinotenda kuti ramba uchikura mhando yeBlue Nile ichigadzira mwero wekuziva. pane zvatinomiririra uye nekuita mutengi mutsva. Uye saka ndicho chikonzero nei ndati both.Andrew Reid Morgan Stanley Okay. Saka kana tikatarisa izvo zvaunenge uchangobva kupfuura, ndinofunga kuti imwe yemikana inonakidza yauinayo varume ndeyekuita inroads mune isiri-yekuita divi rebhizinesi. Ndinofunga kwauri kuti hazvina kufamba sezvawaizozvifarira muna 2012 asi izvi zvinogona kunge zvakakonzerwa nekuoma kwemari kusvika pakupera kwegore. Unofungei nezve zano rako rekupinda izvozvo nekuti zviri pachena kuti uri kushambadzira. kune mumwe mutengi akasiyana achave achitenga uye saka vanhu vazhinji vangafunga kuti izvo zvichatoda brand kana iwe kubuda uye kutora zvishongo kubva kune mazita brand designers.Harvey KanterMunoziva, pane zvinhu zvitatu zvikuru chaizvo zvaiedza. kuita. Imwe ingori pachena uye nyore kuziva. Ini ndinokuudza kuti muenzaniso wakakwana, weValentines Day ndakatenga mwanasikana wangu asiri mutengi wedu, asi ndakamutengera zvishongo zveValentines Day uye akandibvunza kuti ndakazviwanepi. Uye zvaishamisa kuti aigona kubvunza nezvechitoro chezvishongo asi akafunga kuti chaive chikuru. Rakanga riri reValentines Day uye chokwadi chenyaya yacho ndechekuti akandiudza kuti ane zvaakasangana nazvo vanhu vazhinji vakati wakazviwanepi?Izvo zvoga ndeimwe yematambudziko edu, kuti tinotanga nevatengi vechirume, ane makore angangosvika makumi matatu uye ari mubhizinesi rekuita. We dont transition him through lifes great events and so thats one of the challenges, iri mushure mekunge watenga that engagement ring theres birthdays, theres anniversaries, theres Bar Mitzvah zvipo, theres 75-year-old mother gifts. Pane zvinhu zvese izvo zvatinokwanisa kuita uye isu hatiite basa rakanaka rakakwana, saka ndicho chinhu chimwe chete. Chechipiri, zvanga tichiyedza kuita ndezvokufunga kwedu pamusoro pekuvandudza rutivi rusiri rwekubatanidzwa rwebhizimisi redu kushandura maonero edu. Saka vamwe venyu vakatinzwa tichitaura nezve fashoni uye chimwe chezvinhu zvinotarisisa ndeye 20/20, takaenda kure zvakanyanya mufashoni uye isu takanga tisina data rakakwana rekuti tinzwisise patakamboenda kuburikidza nekutora nzira iyo dhigirii rakasvika. taifanira kushanduka. Uye kwatiri, kusabatanidzwa mabhandi, zvishongo zvedhaimani uye zvatinodaidza imwe fashoni inova matombo anokosha, sirivha, maparera, goridhe, uye Im kukanganwa imwe. Iro rimwe divi rebhizinesi, iyo imwe fashoni takaenda kure zvakanyanya, uye zvakanyanya mutengi akati Ndeipi yaive yekudzidza kukuru, asi zvakanyanya isu takaenda kure zvakanyanya maererano nechiyero chefashoni mumusanganiswa. Uye zvakasiyana, mushure mekunge tapfuura nekudzika kwakadzama kwemakore mashanu edata takanyatsonzwisisa kuti chikamu chezvatisina kuita kwaive kukura mamwe mabhizinesi edu ainzwisisa zvakanyanya tichishandisa iyo data yatinayo munhoroondo mumba iyo yaiti zvishongo zvedhaimani zvaive. mukana wakakura kudarika wataitarisira.Saka patakakura fashoni, kusabatana taitevera zvinhu zvakaita sematombo anokosha. Isu takatevera zvishongo zvemadhaimondi asi chimiro chedu chakange chisiri kukura muzvishongo zvedhaimondi pamwero wakafanana nedivi refashoni rebhizinesi; kureva, matombo anokosha nezvinhu zverudzi irworwo. Uye saka hindsight 20/20, takaita kuti mutengi atiudze kuti vaida zvimwe zvishongo zvedhaimani. Kumhanya kwezvishongo zvedhaimani kwaive nani, kubereka kwaive nani. The style count wasnt as robust.Kupesana, takatevera gem side rebhizimusi kwete chete kuti mamwe fashoni haana kutengeswa asi isu takanga tanyanya kurongeka, haina kuita seyaidiwa. Saka taiungana zvakare mune izvo uye nekufamba kwenguva isu tinotarisira kuti bhizinesi redu risiri rekubatana richashanduka. Saka zvakare, ndati ndisati ndave tichiri kutevera zvinhu zvimwe chete asi zvine hungwaru maitirwo atinoita ndiko kudzidza kwatakaita gore rino. Uye nokutendeseka, Board, tinonzwa zvakanaka chaizvo pamusoro kuti kudzidza nokuti takanga tisina kudzidza uye bhizimisi chete haana kushanda kana zvakawanda homogenized, migumisiro yedu, isu wouldnt takaona kugona, nzira yekufambisa kupinda munzvimbo itsva.David. BinderI think its also interesting, kana iwe ukatarisa musika saizi saka kana isu tichitarisa isiri-yekubatanidzwa, iyo addressable musika muUnited States its about $50 billion in total. Izvo zvinosanganisira mabhendi emuchato atiri kutotaura kune avo vatengi, uye mabhendi emuchato angangoita mabhiriyoni mana kusvika kumadhora mashanu emadhora emusika iwoyo unogadziriswa. Saka its sizable and its also an audience that were already addressing.Diamond jewelry is about $25 billion and thats an audience that in part were already talking to because vaitaura nemukomana arikuuya panzvimbo, whos trying to understand the attributes about diamonds. izvo zvinogona kumuudza kuti atenge. Iyo inotaura kune yakasarudzika zvinhu zveyedu yekugovera cheni, kuti isu tine yakadzama yemakwikwi mabhenefiti. Saka zvimwe zvemusika unotaurika, zvidimbu zvihombe zvemusika iwoyo unotaurika zvanga zvichitotaura kune vatengi ivavo kuburikidza nezvavaiita padivi rekubatana.Kuwedzera mune zvimwe zvemafashoni zvinhu zviri kunze kwezvishongo zvedhaimondi kana kunze kwemabhendi emuchato ndiko mukana wakanaka kwatiri uye isu tinokwanisa kuwedzera vateereri vatinotaura navo, muchidimbu nekuti kubva kuseri kwechigadzirwa changa chiri kuvaka mukubatana nemabhendi emuchato nezvishongo zvedhaimani. Theres a lot more frequency there, its a bigger audience but its something that we can grow into zvishoma nezvishoma tichishandisa mikana mikuru mukati me diamond jewelry and wedding bands.Andrew Reid Morgan StanleyKo zano iroro rinoda kuti iwe unyatsotarisa kwauri uchikwezva zvakare kune izvozvo. nhamba yevanhurume? Kana kuti unoita sei shanduko iyi kubva pakutengesa mhete yekuvimbisana kumukomana, chikomba, wobva waita kuti atore mukadzi wake kunaHarvey KanterPane dzimwe nzira dzinoverengeka dzakasiyana. Imwe kushambadzira kwedu kuri kusimukira. Saka personalization, kushambadzira kwehupenyu isu hatina kunyatso wedzera iwo mukana. Saka ndakataura paanenge aine makore makumi matatu uye akatenga mhete yekubatana, zviitiko zvese zvehupenyu zvinoitika mushure mezvo isu hatina kunyatso wedzera izvozvo. Chimwe chinhu ndechekuti, iwe wabvunza mubvunzo kuti isu tinofanirwa kumutaurira zvakasiyana here isu hatimutarise semutengi akasarudzika akaita seBlue Nile uye rimwe bhizinesi. Shes atouya kunzvimbo. Shes kutenga zvinhu zvakawanda zviri pane saiti. Takanga tisiri kuwedzera izvo kuburikidza nezvose zvekupihwa. Takanga tine magumo. Iyo bulldog chikamu chebhizinesi redu vatengi vatsva vasingatizive isu tinopesana nevatengi vakasiyana, saka maitiro awakaita mubvunzo zvishoma zvishoma maonero edu ndeekuti isu hatina mutengi akasiyana. Tinofanira kumubata neimwe nzira.Andrew Reid Morgan StanleyOkay. Uye Dave, wanga uchitaura nezve data uye uchipfuura makore mashanu edata zvisati zvaitika. Imhando ipi yetekinoroji yaunounza kune yako merchandising zano? Kana iwe paunofunga nezve magadzirirwo ebhizinesi rako, unoshandisa sei data kubatsira kuita sarudzo dziri nani?Dave BinderSo Blue Nile yakavambwa semutengesi wepamhepo ane akapfuma kwazvo data analytics uye maturusi. Zvakatanga nekutengesa zvaive 20,000 kana 30,000 madhaimondi akasununguka zvino kusvika 150,000 madhaimondi asina kusimba, uye kunzwisisa nzira yekukwidziridza kukurumidza, mitengo yekutendeuka; uye kana vatengi vafunga kutenga uye pavanenge vasingaite kuitira kuti tigone kukwidziridza maginecha maringe nekutengesa. Saka pane yakadzama seti yeanalytic maturusi akapararira zvakadzika mukati mesangano redu kuti tinzwisise zvinoshanda uye chii chisingaite.Zvakaitika mumakore matatu kana mana apfuura isu takawedzera maturusi iwayo kuti tinyatsonzwisisa maitiro ekugadzirisa mari yekushambadzira yekutenga kwevatengi uye sei. kunatsiridza kutengeswa kwezvishongo zvisiri zvekubatanidzwa. Uye ndicho chimwe chinhu changa chiri chitsva kwatiri: kugadzirisa maturusi iwayo uye kupa simba vanhu vanomhanyisa kambani kunyatsoshandisa iyo ongororo kuona kuti ndechipi chigadzirwa chakakodzera uye kuti ndeipi mutengo chaiwo. , maturusi ekuongorora akapfuma panheyo yeBlue Nile isu takanga tisina kudzika hunyanzvi hwekutengesa. Uye saka patakatangazve zano redu pakutanga kwa2012 isu takaona chikamu kuti tiri vatengesi, uye sezvo isu tichiwedzera zvigadzirwa zvatinotengesa tinoda vatengesi. Tinoda vanhu, vatengesi vanogona kushandisa iyo data nenzira yakasiyana yekuwedzera assortment, ndokubva yauya Harvey.Andrew Reid Morgan Stanley Okay. Uye ndinofungidzira kutora danho rimwe chete mberi maererano nekuunza ruzivo rwekutengesa, ndeapi maonero ako maererano nekuedza kubuda uye kugadzira humwe hukama, hukama hwakafanana nahwo naMonique Lhuillier kunyatsoita rudzi rwemotokari yekuziva paBlue Nile?Harvey KanterYeah , Monique Lhuillier yanga iri nyaya yebudiriro inoshamisa. Takazorova nhamba dzedu ndokubva taseka naDavid, ndiye aifunga kuti tirikusvika pakakwirira asi taiva nemugumisiro wakanaka chaizvo. Takafara nazvo zvikuru. Chinhu chinonakidza chikamu chezvaakatiitira ari kutiunzira cache semugadziri, ari kutiunzira fashoni. Avhareji yemitengo yemitengo yakakwira kupfuura yedu yazvino mutengo mapoinzi; muganho wake wakakwira zvishoma pane yedu yazvino asi izvo zvaakatiitira zvinofumurwa mizhinji yemikana. Iyo inonakidza fashoni yake, kusvika pamwero wayo unonzwisisika, yakatengesa zvirinani kupfuura yake yepamusoro fashoni iyo inonyatso enderana nenhoroondo yedu yekusabatanidzwa muQ4. Asi izvo zvaanoitwawo zvinogadzirwa kugona kunzwisisa kuti haasi kambani yekuroora chete. Saka ndanga ndichiudza vamwe vanhu kare muzuva kuti paakarova, svondo rekutanga raakarova takatengesa mayunitsi makumi maviri nerimwe uye izvo hazvinzwika senge zvakawanda. Asi kana mutengo wake wepakati uri $8000, $9000 inhamba ine musoro. Iwo 21 mauniti akaumbwa negumi nematatu ezvirongwa zvekupfimbana kwevakaroora uye 8 mayunitsi emabhendi, uye iwo mazviri pachawo anowanzo itwa mwedzi mumwe kusvika kutatu. Asi vatengi vaiziva kuti aive pasaiti uye miniti yaakarova nayo yakatengeswa.Chinhu chechipiri chinonakidza pamusoro pacho ndechekuti mabhendi agara haatengesi pamwero wechiyero kwatiri ndosaka ndataura chokwadi chekuti tinotenda kuti tine bhendi. mukana wekukura attachment rate. Asi chatinoona ndechekuti madzimai mazhinji pakutanga aitenga mabhendi aingove ezvishongo, kwete hazvo kuve bhendi remuchato kuti uende nemhete yako yemuchato. Uye saka isu tinotenda kuti mukana wekukura zvishongo zvefashoni naMonique wakakodzera uye zvakanaka kuvhura imwe nhanho diki yezvishongo zvefashoni naMonique muhafu yechipiri yegore rino. isu tinotenda kuti kana tikakwanisa kuunza imwe yatingatsanangura secache, indasitiri inotungamira yakanyatso dhizaini inozowedzera bhizinesi redu Uye isu takanga tisingatarise kuunza mhando mukati nemanameplates nekuti Blue Nile inoda kuve yakasarudzika senge madhaimani, aine chinhu chakapfuma chaizvo uye chine revo. Asi kana mucherechedzo ukatigadzirira amburera yefashoni, tichibatana zvakanyanya nevatengi vechikadzi nekuti tinoziva vakadzi vairaira kutenga ikoko svondo rekutanga, kwete varume; uye yatove nechekuita kune zvishongo isu tinotenda kuti kune kumusoro uye zvimwe zvinopihwa zvemhando. Uye ndaiongorora izvo asi ini ndaikuudza kuti kupisa kunononoka. Takanga tisiri kutarisa kungowedzera mazita nekuda kwemazita.Andrew Reid Morgan StanleyOkay. Saka iwe unofunga kuti sezvaunotarisa, uye ini handidi kutaura kuti gadzira portfolio yemhando kana vagadziri asi izvo zvichave zvakakwana kuti zvigadzirise zvauinazvo kunze kwenyika, vakwikwidzi vako ikoko? Nekuti ini ndinofunga ukangotarisa, kungave zvitoro zvedhipatimendi kana hunyanzvi hwekutengesa zvishongo, ivo vari kushandisa yakawanda yakawanda pakushambadzira. Saka iwe unowana sei imwe mhando yeasymmetric leverage kubva mubhizinesi rako kuti ukwikwidze navo?Harvey KanterYeah, ndingati chekutanga uye chakakosha isu hatisi kutarisa kuve, kwete chinangwa chakaipa, asi portfolio yemhando. Tichave takanyanya kusarudza mune zvatinounza muBlue Nile bhizinesi, nhamba yekutanga. Chechipiri, chatiri kunyatsotarisa ndechekuti, uye Moniques muenzaniso wakakwana waakange akanyorwa semumwe wevakadzi makumi mashanu vepamusoro vane simba muna 2011. Shes mumwe wepamusoro Vanoti ndiye wechi14 anoremekedzwa zvakanyanya mugadziri munyika kunze kwegumi neshanu. Anonyatso kutiunzira chimwe chinhu chinosanganisa zvatinoita, uye sezvatinotarisa kuunza mamwe fashoni kana zvimwe zvinhu zvezvaanoita, chaanoedza kuita kushandura maonero ekuti hazvisi zvekunyanya zvakanyanya nezvehutachiona. hunhu hwezvaanoita uye zvimwe zvakasiyana zvezvaanoita. Saka kana iwe usingazive zvakawanda nezvaMonique, zvimwe zvinhu zvinotsigira izvo ndezvekuti ane chiitiko chakakosha mutsara wekupfeka nhasi. Achangobva kuvhura shangu dzeItaly. Anonyanya kuzivikanwa mumakapeti matsvuku Oscars, Wakapfekei? Shes mumwe wevanhu vanoti vanhu vakapfeka, iye zvino vakapfeka zvishongo zvake pamwe chete nenguvo dzake. Uye pane hutachiona hwehutachiona hune Facebook huru inotevera, Twitter inotevera, Pinterest inotevera uye inonyatsoenderana nemagariro edu. midhiya inodzidzira patiri chaizvo nyika inotungamira jeweler paPinterest uye ndinoreva izvo chaizvo. Iko hakuna jeweler yakakura kupfuura isu paPinterest uye isu tiri vamwe vepasi rose vanotungamira zvishongo paFacebook. Uye saka pane chinhu chakakosha cheizvozvo kwatisingasundire branding maererano nemapurogiramu ekushambadzira asiri pamhepo a la Macys nekuti isu hatisi mushambadzi. Izvo chaizvo nezve dialog, kubatanidzwa uye kuedza kwehutachiona uye izvo Monique anotiunzira isu zvinhu zvakawanda zveiyo muhupo hwesocial media.Andrew Reid Morgan StanleySaka nekukurumidza chaizvo uye wobva waenda kumibvunzo muvateereri, mutengo wako wemasheya wasvika. pasi kubva pakutaura mihoro yeQ4. Uye iwe wakaisa kiredhiti nzvimbo panzvimbo. Wakatenga madhora makumi mana emamiriyoni ezvitoro mune imwe neimwe yemakore maviri apfuura. Pane mukana here pano wekuita chimwe chinhu maererano nekudzokororwa kwekare kana chimwe chinhu chingatonyanya kukosha?Dave BinderSaka zvakanaka stock yedu yakauya zvishoma mushure mekuburitswa kwemari yedu, ndaida kujekesa izvozvo. Saka ndinoreva kuti isu tinoramba tichiona kutengwazve senzira yakanaka yekupa kukosha kwevagovani. Bhizinesi redu rine mari yakawanda; isu tine yakashata yekushanda capital model iyo Im sure vanhu vazhinji varikuziva. Nekukura tinoburitsa mwero wakakura kwazvo wekuyerera kwemari pane yatinowana mambure, uye nekudaro tinotenda kutumira mari iyoyo kuti titengezve masheya kana mukana uripo ichiri nzira yakanaka yekubatsira vagovani vedu venguva refu. dhizaini kuti uwedzere iyo mukepisi kana kuita chero chinhu chakakura kana kupfuura chekutengesa muzvisikwa. Izvo chaizvo zvekusimudzira goho kana isu tisinganzwe sekunge tiri kuwana kukosha chaiko mumusika pane yedu stock. Uye ini ndinofunga chinhu chakanyanya kunaka kuratidza kuti masheya edu anowanzo kushanduka, uye saka kana iri mukutenderera kutenderera uko mutengo wakadzikira wakapihwa izvo zvatinofunga kuti kukosha kwakakosha ndeye kunyangwe chikamu chekubatana chebhizinesi redu. kuzvimiririra isu tinofunga kushandisa mari yakawandisa kutenga zvakare mashare ndicho chinhu chakakodzera kuita kune vane mashares.Mubvunzo-ne-Mhinduro ChikamuAndrew Reid Morgan StanleyRegai titarise kune vateereri kuti vaone kana mune chero mibvunzo. MuongororiMumuenzaniso waMonique, kana ukaiburitsa kunze kwepaki mangani mabhurendi, mangani mazita aungasaina akadaro nekufamba kwenguva? Uye kana Im, rega ndibaye izwi reinternet ndinofungidzira kuti uri kuvaka musika mukati meBlue Nile nemhando idzi?Harvey KanterIm haasi kuzonyatsopindura mubvunzo wako, asi mhinduro yekutanga handizive. We dont have a vision that well be 20 or 30 brands, we dont have a vision that its only two or three. Mukupindura kumubvunzo wako wechipiri imhando yeiyo yakasanganiswa yeiyo: isu tine kutenda kuti zvirimo uye kuve webhusaiti iyo inopfuura kungoita, nekuda kwekushaya nzira iri nani yekuzvitaura, webhusaiti inotengesa zvinhu, inotengesa zvinhu. tinogona kuva nzvimbo inofadza chaizvo yekushandisa nguva. Ndinotaura izvi kakawanda asi mudzimai wangu muenzaniso wakakwana. Ini ndinonongedza kuti anogara pasofa husiku, anoona TV netablet yake uye izvo zvandinoona, tariro yangu yebhizinesi redu isu tichave imwe yenzvimbo dzaanongoenda kune zvemukati. Uye saka panguva iyoyo kana Blue Nile iri chikamu chakakosha chehupenyu hwake, pese paanofunga nezve zvishongo zvezvishongo huya kuBlue Nile. Uye anoita Huffington Post kana zvinhu zverudzi irworwo kwaanenge achingotarisa kuti chii chiri kubhowa. Kana tikatyaira zvemukati vis--vis designers uye hazvisi izvo zvinotengeswa nevagadziri asi izvo zviri munzira, pavari kuratidza, zvine chekuita, chii chiri mufashoni kukonana ikoko nenzira yakanaka yekutengeserana uye zvirimo zvichaita kuti mhando yeBlue Nile ive chaiyo. chikamu chakapfuma chevatengi chinorarama uye ndizvo chaizvo zvaive zvave kuedza kuita. Uye panguva iyoyo, paanenge akagara pasofa nehwendefa zvakanaka ane nzira yakanakisisa yekumutendeutsa uye kunyatsova nevatengi vakatendeseka. Uye vagadziri vakawanda by default hazviite kuti zviitike. Vagadziri vakakodzera vanogadzira zvirimo zvechokwadi ndiyo nhaurirano yaiedza kugadzira.AnalystUye pane iyo nhanho une zvishongo zvakanaka kwazvo muchitoro chako, uye zviri pachena kuti zvinobva kuvanhu vanogadzira zvinhu izvi zvakanaka kwazvo pamutengo mukuru wetegi. Saka ini ndinofungidzira chatisinganyatso nzwisisa ndechekuti vangani vagadziri vauri kunyatso shanda navo izvozvi sehuwandu? Uye kana iwe uchitengesa munhu akaita saMonique, izvo zvinoshandura sei iyo chiteshi chauinacho panzvimbo? Uye urikuendepi nazvo zvakare, nekuti ndinofunga kuti chikamu chazvo hatisi kunzwisisa kuti vangani vagadziri vauri kushanda navo. Isu takaunza, kubva pakuchinja kwekutengesa musangano, Dhizaini Director. Iye chaizvo akadzidza Chikoro chePhiladelphia cheJewelry Design, uye mukadzi akadzidza ane makore makumi mana nemashanu anga ari mubhizinesi kwenguva yakareba. Ari mune yedu-mumba mhando yedhizaini dhizaini, uye ndiro zita rake Dhizaini Dhizaini. Beyond Monique hapana dhizaini entre kana iwe uchida kune yakawanda yevagadziri. Isu tinoshanda neyakatsanangurwa seti yevatengesi uye avo vatengesi vane dhizaini yemukati uye vanotigadzirira isu chete, asi havasi vagadziri vecache. Ndozvavari ivo vari-mumba vagadziri, uye ndezvese bhizinesi redu rezvishongo pamwe nebhizinesi redu rekuseta. Yayo yakanaka nhete yevashambadziri, saka isu tine hukama hwenguva refu nevanhu ava. Asi ivo chikamu chekambani yavo yekugadzira uye vari kugadzira kambani yavo yakakura, uyezve chikamu chidiki chezvavanogadzira chakanangana nesu.Andrew Reid Morgan StanleyNdichangopindira neimwe iri pano. Saka muna 2012 imi vakomana vakabatsirwa zvishoma muchikamu chekutanga chegore nemacomps ari nyore mumutengo wedhaimondi wegore-pamusoro-gore unodzikira. Sezvaive muna 2013 zvino imi vakomana mune nhungamiro mumusika iyo inosanganisira mhando yefungidziro ye5% kusvika 10% kuwedzera kana ndikarangarira nemazvo. Ndekupi kunotanga kuoma kuti urambe uchikura bhizinesi rako rekubatanidzwa sezvo mitengo yedhaimani iri kuwedzera?Dave BinderSaka nhoroondo, pamberi pe2011 yaive payakazonyanya kushanduka pamusika, mitengo yemadhaimani yaizowedzera 5% kusvika 10% zvishoma nezvishoma. , uye pakanga paine kukwira kwemitengo kwakanyatsotarisirwa zvishoma nezvishoma. Ndiyo nharaunda umo munguva yakapfuura Blue Nile yakakura iyo yekudyidzana yebhizinesi rayo mune mbiri-manhamba renji. Uye saka tinonzwa sekuti ichiri yakasununguka nharaunda uko kukosha chirevo chatinacho resonates.Kana tikaona yakawedzera kushata ichienda mberi uye tinotanga kuona kukura kwemitengo yedhaimondi iri pamusoro pe10% zvakanaka pamwe kuwana zvishoma kunetseka kuti. tichange tiri panguva yakaoma sezvataiva muna 2011. Asi munhoroondo tichitaura nepakati inflation Blue Nile is well positioned to grow.Andrew Reid Morgan StanleyUye saka kana tikatarisa 2013, unogona here kungosimbisa mikana mitatu yepamusoro kana michero yakaderera-yakarembera? Wataura kubatanidzwa kwebhendi-Harvey KanterYeah, ndingati hapana mubvunzo iwo matatu mikuru mikana ndeye kushandura merchandising uye kushambadzira, uye icho chave chiri chikamu chechikonzero chandakaita basa uye chikamu chechikonzero chandakabatana. Yechipiri ndeye mobile parity mobile parity uye kuunza PC kushanda kune mobile-based nharaunda uye kuwedzera chimiro chekushanda munzvimbo dzese chinhu chakakosha tekinoroji. Uyezve yechitatu iyo yatisina kumbotaura nezvayo zvachose asi yayo yepasi rose. Isu tinotenda kuti musika weAsia-Pacific imusika chaiwo, unoreva chaizvo. Vamwe venyu makaona takazivisa kudyidzana na[Sho], takaisa mari kune mumwe watinoshanda naye gore rapfuura, [Vay] ane zvidhinha nedhaka rezvitoro. Mutungamiri wedu weInternational anga aenda kuAsia katatu gore rino ini ndinotungamira svondo rinouya. Icho chinhu chakakosha pamberi uye isu tinotenda kuti musika weAsia muhuwandu huchave huri makore ano musika mukuru wepasirese kwatiri uye kukura ndekwenguva refu mukana mukuru watinayo. Saka avo ndiwo mazano edu matatu makuru, makuru.Andrew Reid Morgan StanleySaka chero mukana wekubvisa pane avo, iwe wakaratidza zvichida mamiriyoni 1.7 kusvika kumamiriyoni 2.0 michato kana michato gore negore, kuti tikure mugove wemusika mumusangano mukuru?Dave BinderYeah, zvakanaka 2012 kukura kwakatenderedza 20% mubhizinesi redu rekubatirana chete muUS vaive vachiwana chikamu uye ndicho chirongwa. Isu tinoona musika uchigona kukura zvine mwero, saka kuti isu tikure zvakanyanya taitora chikamu uye ndicho chirongwa. Isu tinofunga kuti yaive pamusoro pe4%, ichiswedera ku5% yemusika muUS yayo inosvika $5 bhiriyoni musika wevanhu vanopedza mariri ekubatirana. Uye isu taigara tichinzwa kuti tinofanira kunge tiri mutambi wemusika ane manhamba maviri uye ndiyo nzira yaive pa.Harvey KanterA lot of reference points to mobile parity uye kuunza PC feature functionality kune mobile ichanyatso kukura divi rekuita zvebhizimusi. . Ingori chokwadi chekuti vatengi vari kutsvaga kuita nharembozha uye isu tine hupfumi hwekuita paPC iyo isingagone kuwanikwa munharembozha isu tinofunga ichanyatso shandura kubatanidzwa kwatiri uye kutsigira chikamu chekuenderera mberi nekusimudzira izvo kunyangwe zvinoitika nemitengo. Uye zvitunha zvataive nazvo gore rapfuura, kunyangwe tiinazvo kana tisina isu hatizove nazvo padanho rimwe chete, asi pane mamwe madhata anoyevedza anofanirwa kusimudzira uye kuenderera mberi nekufambisa chikamu chebhizinesi. Andrew Reid Morgan StanleyOkay. . Sezvaunoramba uchikura kudivi risiri rekubatanidzwa, unotenda here kuti izvo zvichawedzera mari yakawanda uye izvo zvichave nemhedzisiro pamari yako yemahara?Dave BinderSaka ndinoreva kuti isu tinotora zvinyorwa zvakanyanya zve kutengeswa kwezvinhu zvisiri zvekubatana. Dhizaini yematemu edu uye kubuda kwedu kwemari kunofanirwa kuburitsa mari isina kwayakarerekera kana isina kunaka. Kana tikakwanisa kushandura zvigadzirwa kana gore pagore mazwi edu akadaro zvekuti tinenge tiri munzvimbo isina kunaka yekushanda. Nokufamba kwenguva, zvingava nani kana tikakwanisa kuona mamwe emhando yekutakura. Saka tinogona kuvavarira zvakaipa kushanda guru mune vasiri kubatanidzwa pamwe kuuraya zvakanaka asi nengozi, uye kana tikakwanisa kuwana consignment womuenzaniso ayo ane zvakawanda zvishoma kana pasina ngozi.Harvey KanterOne dzinonakidza mashoko pfungwa, uye zvachose dhora vhoriyamu ayo zvine zvazvinoreva mumamiriyoni asi hazvina zvazvinoreva mumakumi emamiriyoni asi kana ukatarisa webhusaiti yedu nhasi tine Red Carpet Selection uye iyo yakanyatso kupihwa zvakatenderedza Oscars. Asi muQ4 takapeta zvakapetwa katatu zvatinodaidza kuti bhizinesi redu rinoshamisa uye kutumirwa kwaro chete. Yayo yakawanda-yepamusoro-yekupedzisira mutengo mapoinzi - $10,000, $20,000, $30,000 mutengo mapoinzi kana kupfuura asi ayo zvakataurwa naDavid maererano nekuedza kushandura chikamu chikuru chebhizinesi redu kune consignment.Mumutengo wakaderera unoratidza zvakaoma kuwana zvishongo. vagadziri kuisa consignment nokuda $100 zvinhu saka isu dont vane chiono kuti, asi sezvo isu kuramba kutamira bhizimisi redu kukwanisa kufamba kuti modhi zvikuru uye zvakawanda kupinda jewelry chinhu akapfuma chaizvo chikamu womuenzaniso zvaizoshanda zvakanaka financially.Andrew. Reid Morgan StanleyUye saka iyo consignment modhi ingori yakachena margin mushure mekushambadzira kwaunoisa kumashure kwayo?Dave BinderPretty zvakanyanya. Isu hatisi isu pachedu.Andrew Reid Morgan Stanley Mimwe mibvunzo?