Michael Schriver, Group President LVMH North Asia appointed RMI Board Chair, Shares Vision of Consumer IN future of Retailing and combining the best of US and international perspectives.
Compiled by Kirthi Kalyanam, Oct 29, 2024
Q: Could you provide a brief overview of your background and your journey into the retail industry?
My retail career started on the selling floor as a part time associate at Bambergers (Macy’s) 46 years ago. I was fortunate to be given several roles as part time supervisor and management while in school and entered the Bambergers executive training program when I graduated. Throughout my 20 year career with Macy’s I had various roles from department manager, to assistant buyer and buyer, store manager in suburban stores, city stores, new store openings and store renovations. I was part of the early introduction of BPS or buyer, planner and store in the 90’s where I oversaw mens and children’s and ended my Macy career as the VP of home textiles (Bed and Bath). I moved from Macy’s to DFS in 1998 moving to Hawaii then San Francisco and while at DFS oversaw planning, distribution and supply chain, Head of Merchandising, Head of stores and eventually Chief Operating officer leaving DFS for another LVMH company Louis Vuitton in 2014 where for 8 years I oversaw the markets of Greater China (Mainland China, Hong Kong, Macau, Taiwan) and Korea. I moved into my current role as President of North Asia for LVMH brands in 2022 where I am responsible for the operations of LVMH group brands in the region.
Q: What motivated you to join the Retail Studies Institute as a board member?
I joined the board while I was president of merchandising for DFS based in San Francisco. My boss had been on the board until he moved to Hong Kong and recommended to me that I take his seat when he relocated. The board has been a great place to meet a diverse group of retail business leaders who share many of their experiences providing amazing insights. It has been a great opportunity to meet our next generation of retail leadership learning their preferences and ambitions while sharing my 4 decades of retail experience across 23 different jobs in 18 different countries and markets.
Q: What aspects of the retail sector do you find particularly interesting or engaging?
The most energising side of retail is the amount and speed of Change. Consumer preferences and behaviours change fast and retail must adapt quickly to be successful. Having started in a period with limited technology and information resulting in strong merchants “flying by the seat of their pants” and evolving to a universe of heavy technology including overwhelming data and AI I appreciate the skill required to balance information with instincts to best anticipate and adapt to the consumer.
Q: What inspired you to take on the role of Advisory Board Chair?
In discussing the role with Kirthi we talked at length about the ability to lead our boards effort into the future. I am strongly focused on a consumer IN future for retail. In this approach our decisions are driven by consumers not product. In essence we are creating products for consumers not finding consumers for products. This approach is strongly anchored and influenced by data and balanced with instincts. Kirthi and I share the dream of making SCU RMI a thought leader in the future of retail combining the best of US and international retail to envision the future.
Q: As the Advisory Board Chair, what contributions do you hope to make to our students' educational experience and professional development?
As someone having been “gifted” a career across many responsibilities and geographies I hope to share these experiences with my board colleagues and students to prepare them for amazing careers in a dynamic future in retail.
Q: In your opinion, which up-and-coming retail brand should our students and community keep an eye on?
Having the good fortune to see retail in a very international context I do not think a single brand would be my focus. There will be many great ideas to be discovered inside different retail brands or experiences. There are ideas to be learned from in every retail environment. Sometimes the ideas will be around product, new innovations or functionality that create excitement. Sometimes the ideas will come from presentation, perhaps in a Sephora lipstick presentation. The idea may come in experience from a great sales associate who engages you as you walk through the door. Maybe it will be something unexpected and not about retail sales at all like a Louis Vuitton exhibition space inside a store. My point to this is that retail is about a comprehensive experience that touches all our senses. A great retailer is sensitive to all of these ideas that stimulate the consumers senses. There will be different retail brands that accomplish different parts of this at different times. If it is great, everyone will be doing it soon after, and therefore we need to be constantly aware and adapting.