Vice President - Merchandising

Job Summary:

The Vice President of Merchandising is responsible for overseeing the merchandising strategy, ensuring alignment with the company's financial objectives and customer needs. This role encompasses budget control, Open-to-Buy management, product assortment strategies, and team leadership to drive sales growth and inventory optimization.

Key Responsibilities:

• Merchandising Strategy:

- Develop and execute a comprehensive merchandising strategy that aligns with overall business goals.

- Analyze market trends and customer insights to enhance product assortment and pricing strategies.

• Budget Control:

- Set and manage the annual merchandising budget, ensuring expenses are controlled and aligned with forecasts.

- Monitor sales trends and make informed spending decisions to maximize profitability.

• Open-to-Buy (OTB) Management:

- Implement effective OTB strategies to optimize inventory levels and ensure adequate stock for sales opportunities.

- Analyze monthly sales and inventory levels to make timely adjustments to OTB plans.

• Collaboration and Leadership:

- Lead and mentor the merchandising team, fostering a culture of excellence and teamwork.

- Collaborate with cross-functional teams, including marketing, sales, and finance, to ensure cohesive strategies and execution.

• Performance Analysis:

- Establish key performance indicators (KPIs) to measure the success of merchandising initiatives.

- Conduct regular analysis of sales performance, inventory turns, and markdown effectiveness.

• Vendor Relations:

- Build and maintain strong relationships with key vendors and suppliers to negotiate favorable terms and drive product innovation.

- Collaborate with suppliers to assure product quality and timely delivery.

• Market Research:

- Conduct competitive analysis and market research to identify new trends, opportunities, and risks.

- Stay informed on industry developments and adjust strategies as needed.

Qualifications:

- Bachelor's degree in Business, Merchandising, or a related field; MBA preferred.

- Minimum 10 years of experience in merchandising, with at least 5 years in a leadership role. Experience in budget control and OTB management required.

- Skills:

- Strong analytical and financial acumen.

- Proven ability to develop and execute merchandising strategies that drive results.

- Excellent leadership, communication, and interpersonal skills.

- Proficiency in merchandising software and data analysis tools.

- Ability to travel as needed for vendor meetings and trade shows.

- Strong negotiation skills and a results-oriented mindset.