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Female Gen-Z Opps: Ashley Stewart's new CEO has marketing strategy shift plans (Score 58)

Stewart!), an omni-channel retailer of female-oriented clothing, selected Gary Sheinbaum, as its new CEO earlier in 2021. Sheinbaum was previously the CEO of Tommy Hilfiger, and he replaces incumbent James Rhee, who departed in July 2020. Sheinbaum detailed that AS will invest more in digital and social media under his guidance. Overall, Sheinbaum will lead AS, which is positioned at a good price-value proposition, to build more key items and essentials into its mix. Initially, the company's team is doing significant market research and consumer insight work in order to improve ROI. 

The company also appointed Jim Wright as its eCommerce and performance marketing VP in 2020; Wright now handles its eCommerce and performance marketing channels such as email, SMS, paid search, affiliate and SEO.

These DMs will work to support AS's continued comeback, which began over the past several years after the company filed for bankruptcy in 2010 and 2014.

Pathmatics reports the company's digital ad spend is already on the rise this year. In 2021, AS has allocated roughly $54.2k toward this channel, nearly double the roughly $36.4k it allocated within the same 2020 timeframe. AS's estimated full-year spend in 2020 dropped only slightly (5%) to $304.6k from that of $319.8k in 2019; however, I expect its total 2021 ad spend to end up higher than its total 2020 spend. YTD, the company has earned around 8.4m digital impressions via Instagram (59%), Facebook (38%) and desktop display (3%) ads.

Since CEO Sheinbaum mentioned that the company's focus on digital and social media will increase under his leadership, spend in these channels will also continue to increase. Judging by its YOY spend increase this year and reliance on Instagram and Facebook advertising, AS is primarily targeting Gen-Z right now. The company holds planning conversations in Q4 and buying conversations in Q3.

You'd also benefit from offering localized ad space around AS's retail locations.

Agency & martech readers - While CEO hires don't usually lead to agency reviews as often as CMO hires do, considering Sheinbaum's marketing strategy shift plans for AS, his appointment could easily be an exception. Get in touch soon to remain top-of-mind. Right now, to the best of our knowledge, 5W handles its PR. Considering that AS is headquartered in NJ and 5W is headquartered in NY, readers in the NE will likely have the upper hand.