In this episode of CANDID, we are joined by Norman Drieselmann, CEO of Retailability, who discusses the process of turning around businesses like Edgars after their acquisition.

Norman shares valuable insights about the steps Retailability took, the lessons they learned along the way, and how they managed to re-establish a positive image for Edgars.

He also discusses the importance of directly communicating with customers and maintaining data integrity in today's retail landscape.

Tune in to learn more about Retailability's journey and get practical advice on successfully managing a turnaround.

00:00 Introduction and Guest Introduction

01:01 Discussing the Acquisition of Edgars

01:21 Lessons from the Legit Acquisition

01:54 Challenges and Learnings from the Edgars Transaction

04:18 Revamping the Edgars Stores

04:52 The Importance of Rebranding in Retail

05:49 The Big Five Initiatives for Business Shift

12:02 The Difference Between Strategy and Plan

16:59 The Role of Supply Chain in Retailability's Strategy

21:21 The Importance of Robust and Simple Systems

22:06 Building a Scalable Business Infrastructure

22:53 Challenges in Finance and Payroll Management

23:40 Choosing the Right IT Platforms

24:17 The Art of Cost-Effective Operations

24:32 The Toyota Analogy: Adapting to Different Business Needs

25:09 The People Side of Business: Gaining Buy-In from the Team

26:17 Overcoming Challenges in Business Rescue

27:12 Building Credibility and Trust with Staff

29:13 Improving Customer Experience: The Customer First Program

33:45 The Power of Direct Communication with Customers

36:27 The Importance of Flat Organizational Structures

39:03 Leveraging Customer Loyalty Programs

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