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Truworths:  Identifying Uncontested Space to Recapture Market Dominance

Summary:

Truworths, an international fashion retailer, inexplicably began to lose its dominant market position.  Its attempts to replicate its competitors' successes drove it further into its spiral of declining market share.  In quick but intensive workshops, SBE took Truworths' leaders right out of the space that was occupied by its competitors.  We taught them how to think about their industry in ways no one else had.  We had them question the very soul of their purpose - both as individuals and as a business enterprise. We delved into the soul of why people buy fashion.  We searched for Truworths' customers' intangible quest that was seemingly unreachable.  We designed that intangible component of their offering, and created a strategy and built a culture to deliver it.  The resulting Truworths ethos quickly permeated all of their operations.  It impacted everything they did—the way they purchased, merchandised, managed people, advertised, and distinguished their customers' experiences.

Truworths' year-on-year exponential success for over ten years has defied analysts. They asked the company how much longer they could sustain such growth.  "We are no longer just a fashion retailer," Michael Mark, CEO, explained to the financial markets. "Like technology companies, we are in the intellectual property business, and our innovativeness is continuous.  Our growth is qualitative and exponential, not just quantitative and linear; we are no longer inhibited by the traditional material limitations of our competitors."

In recognition of SBE's work, David Lapin was invited to join Truworths International's first Board of Directors after it was listed as a publicly traded company.

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"Identifying Uncontested Space to Recapture Market Dominance"

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