Millennial, Gen-X Opps: Kravet taps new CMO (Score 65)

Sales Lead: Suzanne Cohen became the CMO of home furnishings company Kravet in April 2023.

• She joined from Ironman, where she served in the same role.
• Cohen will now spearhead Kravet's marketing team handling things such as brand strategy, digital performance, licensing initiatives, and customer engagement.
• She will specifically focus on customer inspiration and new business opportunity pursuit.
• At Kravet, Cohen succeeds Kim Fasting Berg, who stepped down as its CMO in November 2022.
  • She is now the EVP of marketing at WME Fashion/Endeavor.
• The company will likely:
  • Shift strategy
  • Return to higher digital spend
  • Seek new agency partners
• Target demographic: 
  • Millennials and Gen-X

Additional recent leadership shifts:

• This hire closely follows Kravet's appointment of marketing creative director Audrey Margarite.
  • ​​​​​​​​​​​​​​Margarite joined the company in June 2022 and was promoted in December 2022.

Additional spending insights:

• Digital and social insights (digital ad spend, effectiveness, impressions, and performance)
  • YTD spend: Kravet hasn't yet invested in digital ads this year but spent around $18.9k last year.
    • ​​​​​​​Despite this, I expect the company to return to this channel later in 2023; it also hadn't yet utilized this channel by this point last year.
  • 2022 data: Last year, Kravet earned roughly 1m digital impressions via desktop display (86%) and mobile display (14%) ads.
    • ​​​​​​​The company placed most of last year's ads site direct onto destinations such as vogue.com (22%), elledecor.com, glamour.com, teenvogue.com, and arstechnica.com.
  • Last year: Kravet spent approximately $18.9k on this channel in 2022 after not having utilized it at all in 2021.
  • Additional channel insights 
    • ​​​​​​​As you can tell from the video above, Kravet also utilizes cause marketing.  

Additional agency insights:

• Opportunity: Get on Cohen's radar soon in case her hire leads to agency reviews.
• Current agency roster:
  • ​​​​​​​No current agency relationships yet confirmed

Insight Sources: Digital spend insights estimated by Pathmatics.