Company: tag
Status: Full Time
Classification: Salary with benefits
Location: Chicago, IL.
Reports to: President
About tag
Founded in Chicago in 1975, tag is a leading wholesale lifestyle brand specializing in home décor and gifts. For close to five decades, we have designed collections that capture the authentic spirit of how real families live and entertain. Our products range from everyday essentials to seasonal collections, with a focus on fresh designs and top-quality craftsmanship for every room in the home. As a trusted partner for retailers across the country, tag strives to create value for our customers by providing unique, on-trend offerings at an exceptional price point. We are a fast paced, market-driven, collaborative company that has been a recognized brand in our industry for over 48 years.
Summary of Position
The Senior Vice President of Product Development is responsible for leading the product development team in the execution of development activities to enhance the product’s brand image in the market, provide significant leadership in line with a strategic product vision, and to support the company’s sales performance goals. The SVP will monitor the product development techniques from conceptualization to the final execution and market release. SVP will drive product strategy for the company and be responsible for growth and success of the product line while ensuring we meet the needs of our customers. The SVP manages the budget and resource allocation to support product development deliverables, ensuring that the outputs meet quality standards, timelines, and align with company business goals. This is a highly visible role within the organization and considered a member of the Senior Management Leadership Team.
Position requires a strong understanding of the retail environment within a variety of distribution channels, in-depth knowledge of consumer goods sales and distribution, and experience with diversified countries of origin for sourcing. Drive and desire to work within a dynamic team environment and should exhibit the following traits:
- Ownership : The SVP position is a critical position within the organization. As an integral part of the team, we expect a complete sense of ownership in all areas of responsibility.
- Passion & Intensity: Success in the SVP position requires tremendous passion, drive and determination. Every individual throughout the organization must sense your full commitment to the business, drive for success, desire for continuous improvement and enthusiastic support of the team and our company. Above all, the position requires someone with an intense desire to succeed.
Strategic
- Development of short- and long-term plans to build brand equity and consumer demand
- Create a detailed plan for product launch
- The ability to create and execute product strategies and lead product vision
- Implement the product development plan, monitor overall progress, review resource usage, and recommending course of action
- Identify & communicate new product innovation, strong retail performers (e.g. retailers, categories & items), consumer attitudes, and trends
- Recommend the initiation of new product ideas and when applicable the exiting of product categories
- Responsible for conducting competitive analysis on strategic retailers with specific retail distribution channels to uncover product opportunities by channel of distribution
- Evaluate current competition and identify potential new opportunities “white space” where we should consider developing new categories
- Work closely & collaborate with Sales, Purchasing, Creative, Product Managers, and Designers to create “best in class” packaging and in-store merchandising / display solutions
- Responsible for the development of creative programs and design concepts that meet the business objectives to drive growth within our Independent Specialty business
- Review sourcing opportunities from multiple countries
- Ensure a consistent stream of new products in support of total business goals and objectives
- Drive development of product roadmap, product strategies, life cycles, and processes
- Responsible for creating and managing to an expense budget
- Track market conditions & price trends
- Drive customer satisfaction and bottom-line profitability
Technical Responsibilities
- Establish a go-to market strategy with cross-functional vision sessions, and stage gates
- Responsible for, and accountable to, meeting timelines for product releases
- Responsible for development of, and adherence to product development processes, and product management processes
- Work hand in hand with overseas offices and agents to ensure timelines, viable product, and margins are met
Communication responsibilities:
- As a member of the tag leadership “team” the expectations will be for a collaborative, committed, trusting, accountable, and constructive conflict mindset while at the table
- To work and communicate well inter-departmentally and foster strong relationships across all areas of the business
- Establish and maintain cooperative, constructive interpersonal relationships with the Company staff at all levels
- Establish and maintain constructive communications and relationships with customers, sales representatives, factories, agents, and other third parties
- Use effective negotiation skills to create a win-win for both parties
- Track market conditions, price trends, and factory capacity
Management responsibilities:
- Motivate, lead, and inspire product development team to drive for results
- Create and maintain a learning environment where development of employees is a priority
- Clearly communicate expectations to team, guide, motivate, and monitor performance along with providing feedback
- Manage staff workload by assigning duties and reviewing and approving work schedules
- Partner with employees to provide them with the appropriate resources and training for their development
- Define department needs and organizational structure necessary to succeed
- Ability to align multiple teams and resolve issues in accordance with business goals
Required Skillsets
- Leadership and ownership skills
- Strong knowledge of Microsoft Office Suite of Programs (Excel, Word, Outlook, and PowerPoint)
- Strong critical thinking and logical reasoning skills
- Excellent organizational, time management and project management skills
- Strong skills in problem identification and solutions-based problem-solving
- Excellent skills managing multiple competing priorities on a daily basis
- Excellent verbal and written communications skills
- Strong team player
- Problem-solving, strategic planning, and setting goals
- Proactive and driven to succeed
- Hard working and enthusiastic approach
- Sound decision making skills
Travel Requirements
- Attend industry trade shows
- Travel to sourcing country of origins (i.e. China and India) to meet with overseas office, agents, and factories to develop and deliver on product categories and assortments.
Experience
- Ten or more years of experience in product management, product development, or related roles in the Home and Gift industry
- Vast experience in product management and product development life cycles
- Product strategy development and knowledge of project management tools
- Bachelor’s/Master Degree in Art, Business, Design or related field preferred