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Shop Talk

Retailers, consumers and prices

January 17th, 2008

War and Monkeys at the ICRXchange

Posted by: Alexandria Sage
Tags: Shop Talk

monkey.jpgAt the annual ICRXchange for consumer companies held in the beach town of Dana Point, California it’s always jarring to see buttoned-down big city analysts and fund managers look like fish out of water while schmoozing with laid-back apparel company heads in the bright sun.

But even more comical was the sight of an animated, energetic Dov Charney, chief executive and founder of trendy retailer and clothing maker American Apparel, giving an evolutionary lesson to suits and proclaiming himself to be a “monkey.”

The dinosaurs in his business, he explained to the rapt crowd assembled around him, are Hanesbrands and Fruit of the Loom, suggesting that his underwear designs are far more hip.

“I’m a monkey — and the rats are behind me,” he said, referring to those who copy his designs.

His comments prompted one fund manager to label Charney “a character,” something the controversial CEO — whose leadership at American Apparel has been marked by accusations of sexual misconduct — may well have heard before.

Also overheard at the two-day conference, Quiksilver President Bernard Mariette being asked if the company was contemplating acquisitions — this one day after the action sports apparel maker announced a bigger-than-expected quarterly loss due to its unwieldy Rossignol division, which it bought in 2005.

“You got any money?” Mariette asked to laughter all around.

Lastly, it feels like war at the ICRXchange. The requisite swag this year is an oversized camouflage backpack, which makes the attendees look like they’re shipping off for a deployment.

But maybe the battle analogy is not too far off, given the current state of retail in the United States.

(Photo: Reuters)

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