Store Manager - Luxury Retail Management Industry (8-12 yrs)

Hiring for a client of ours.

Minimum of 8-12 years in luxury retail management. (Luxury only)

Key Responsibilities of Store Manager

Sales and Revenue:

- Develop and execute strategies to achieve Annual Operating Plan (AOP) sales targets.

- Track daily sales performance, analyze trends, and discuss reports with the sales team.

- Set daily sales targets and provide guidance to ensure goals are met, maximizing store revenue.

Store Operations:

- Oversee daily store operations in accordance with Retail Standard Operating Procedures (SOP).

- Ensure adherence to store opening and closing procedures, Visual Merchandising (VM) standards, grooming guidelines, attendance policies, and employee productivity benchmarks.

- Manage cash handling procedures to maintain accuracy and security of financial transactions.

Inventory Management:

- Measure stock turnover ratio and maintain accurate inventory levels.

- Ensure inventory accuracy through regular audits and cycle counts.

- Optimize order fulfillment rates and minimize stock-outs and damages.

- Implement Return, Damage, Repair (RDR) processes effectively to manage product returns and repairs.

Customer Satisfaction:

- Increase conversion rates and enhance old customer retention strategies.

- Ensure high levels of customer satisfaction through personalized service, product knowledge, and efficient complaint resolution.

- Acquire new customers through effective marketing initiatives and promotions.

- Conduct Mystery Shopping exercises to evaluate service quality and address areas of improvement.

- Maintain high audit scores related to store cleanliness, product availability, and service standards.

Team Management:

- Manage employee attrition rates through effective retention strategies and positive work environment maintenance

- Foster employee engagement and satisfaction through regular communication, recognition programs, and career development opportunities

- Handle the hiring process up to sales staff level, managing manpower gaps effectively

- Provide ongoing training in product knowledge and soft skills to enhance customer interactions and sales effectiveness

- Maintain accurate employee data and records

- Implement incentive plans to motivate the sales team and achieve performance targets.

Reporting and Communication:

- Prepare and submit daily reports to management, including Mystery Audit results, daily sales reports, audit findings, store compliance status, grievance reports, and incident reports.

- Report any discrepancies, shortages, or damages promptly to the Assistant General Manager (AGM) or General Manager (GM) - Sales.

- Handle other operational tasks as assigned, ensuring all duties are completed efficiently and on time.

Business Development and External Relations:

- Coordinate meetings with architects, interior designers, and other business partners to explore B2B opportunities and maximize revenue beyond retail sales.

Qualification:

Education: Bachelor's degree in business administration, Retail Management, or a related field.

Advanced degrees or certifications in Retail Management are advantageous.

Experience: Minimum of 8-12 years in luxury retail management or hospitality, with a proven track record of achieving sales targets and managing high-performing teams.

Skills: Strong leadership and decision-making abilities, excellent communication and interpersonal skills, proficiency in retail operations management, and a deep understanding of luxury market trends.

Attributes: Strategic thinker with a customer-centric approach, adept at fostering a positive work environment, and capable of driving business growth through effective sales strategies and operational excellence.