Lilly Pulitzer CEO Celebrates 60 Years of 'Making People Happy'
*By Conor White*
A so-called "retail apocalypse" may be underway, but not at Lilly Pulitzer.
The clothing brand famous for its bright colors, hand-painted prints, and resort wear is stronger than ever, according to its CEO.
"What made the brand take off in the 1960s ー the fundamentals are still there today," Michelle Kelly said Thursday in an interview on Cheddar.
Lilly Pulitzer is celebrating 60 years with a new store on Worth Avenue in Palm Beach, Fla. ー but its mission remains the same.
"We are focused on our customer," Kelly said.
Total revenue growth of the Oxford Industries-owned ($OXM) brand was up 3.1 percent in the second quarter of 2018, and up over 5 percent in the first six months of the year. The company has been able to sustain its growth without discounting items or lowering base prices.
"We really focus on full-price integrity," Kelly said.
"We believe that if a customer loves Lilly, we want to make something that will delight her at full-price."
Among those full-price items ーand one of the reasons sales are up ー are swimsuits. The company recently brought the pieces back after pausing their production for years.
"We really kept hearing from our customer that you can't pack for a vacation completely without having a great Lilly Pulitzer swimsuit," Kelly said.
With sales up and new stores opening, Lilly Pulitzer doesn't see any reason to change its strategy ー and beyond the bottom line, there's another major reason it's doing so well.
"It makes people happy," Kelly said. "Who doesn't want more of that right now?"
For full interview [click here](https://cheddar.com/videos/lilly-pulitzer-ceo-talks-60-years-in-business).
The Q-Collar helps protect athletes from impact-related concussions. Now, the U.S. Army is evaluating if the device could help reduce traumatic brain injury cased by blast weapons.
Co-founder and executive chairman of the board at Vaxxinity Lou Reese shares how the company is working to bring vaccines for chronic illnesses like heart disease and Parkinson’s to market with an eye for accessibility.
Mario Veneroso, Kingsview Asset Management Partner, weighs in on the latest economic data and whether the market is pricing in too many rate cuts for the coming year.
Apple has rolled out an update to its operating system this week with a feature called Stolen Device Protection. It makes it a lot harder for phone thieves to access key functions and settings, and users are being urged to turn it on immediately.
The U.S. economy grew at an unexpectedly brisk 3.3% annual pace from October through December as Americans showed a continued willingness to spend freely despite high interest rates and frustrating price levels.
Alan Becker, CEO and Investment Adviser Representative at Retirement Solutions Group and RSG Investments, shares his thoughts on the latest GDP data plus why he's not sold cryptocurrency as a long-term asset.
