Robb Talbott, the chairman and new president of the Robert Talbott luxury furnishings brand, spoke to MR about the direction of his company.
Robert Talbott chairman Robb Talbott with his wife at the Talbott Vineyards
“We are streamlining to some degree,” he said. “I will be making a few more changes, but not many. We’ll be returning more to a Talbott look rather than a Zegna look, I think that’s fair to say.”
“I am not hiring another president, and I will not be filling the CEO position,” he continued. “I’m the chairman and I’ve taken the president’s title, as I am at the [Robert Talbott] winery. While I won’t be filling the CEO position, I did elevate John Moran, our VP of operations, to COO. That change happened this week.”
Talbott explained that the company was changing direction under his new leadership, and that he is no longer actively trying to sell it. “I did hire Financo last fall to look at options,” he said. “We had a few people that were interested: Hartmarx, I believe was interested, and PVH. We did go into a letter of intent with Hampshire Group for a few months, but I rejected that offer. I like the folks, but I just didn’t feel comfortable with the deal.
“There’s still a lot of interest in the company. We’ve heard a lot of rumors. But at this point, we’ve really put this on the back burner. I’m more interested right now in getting back into my company and redirecting the energy to what we were, what we got away from in the last few years. I love the wine business—that’s my passion—but I’m comfortable with this company and it’s in my blood.”
Talbott admitted that the company had suffered during the recession. “Obviously, our revenue has dropped, from the recession and other things. But we have a wonderful, loyal customer base, and they need to be appreciated more, and respected more. So we’re going to go back to some of the old ways.”
Talbott was adamant that the controversial order minimums instituted under former CEO Richard Cohen would change. “People who had done business with us for 50 years, and maybe they only do $12,000 a year…that customer is really important to me, even if it takes extra service. I want to get those people back. Those people should be respected. They helped build us.
“Everyone has a different method of running a company, and I’m not going to criticize at this point. Some things work, some things don’t. We built our company with the help of small specialty stores. When we first started to sell Nordstrom in 1959, they had one store and they sold shoes. We’ve been a great partner of theirs for years, and it started with one store. But the little guys in Atlanta, Dallas, San Diego, La Jolla, they’re all calling me now and they’re thrilled that we’re going to give them that attention. And that’s really what Robert Talbott always was. We got away from it, but we’re going to get back to those little guys. They’re important, especially today.”
Asked about his own retail operations, Talbott explained that the Manhattan store on Madison Avenue and 62nd Street is closing after nearly 20 years because its building is converting to residential space and the landlord is giving retail tenants incentives to leave. “We’re actually happy to get out,” Talbott said. “We’ve looked at a few sites around the city, all of which are a bit bigger—around 1,200 to 1,500 square feet—which would serve us better.”
In the short term, the merchandise will be moved to the New York showroom, which will be open to customers. Regarding the showroom, Talbott said that it is not closing, despite rumors to the contrary. “It’s very large, about 9,000 sq. ft.,” he said. “It’s a beautiful spot, but it’s probably too large. So we’re looking at options for possibly subletting and sharing the space.”
Talbott said that most of the New York staff was let go in the wake of the store closing and the showroom downsizing, but added that Jarret Kerman left earlier, for a job at Brooks Brothers.
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Nice Article Robb
I find bothersome that MRketplace has chosen to shed all appearance of journalistic integrity and simply has allowed industry players to use its publication as a PR tool. Mr. Talbott proclaims that his comments are not intended as criticism yet they are nothing but. Why not get the other side of the story on this one, MRketplace? There has clearly been a lot of turmoil within this company over the last decade. An introspective piece that explores all that might have been more enlightening and, at the very least, more interesting.
Thanks for the comment, Clive. I stand by this story, the purpose of which was to report on the new leader of Robert Talbott’s plans for the future. There were many unanswered questions: is the company for sale? Will Robb Talbott choose a new CEO? Why was the NYC store closing? Why were so many NYC staffers let go? What changes will Robb Talbott make? This article answered most of those questions, and more.
Of course Mr. Talbott wasn’t happy with Richard Cohen. From the sound of it, Cohen wasn’t happy with Talbott, either. They had very different ideas about how to run the company, and they have both politely acknowledged that without attacking each other in the press.
But you’re absolutely right, there is much, much more to the story. I’ve written three pieces on the company in the last couple of months, and I have no doubt that I’ll be writing others later. To that end, what would you like to know about Robert Talbott? What questions would you ask, and who would you ask them to?
Mr. Sheff,
I strongly commend you for standing by your story and taking the time to respond to reader comment. So many writers don’t, especially in the trade publication business and I feel that is part of the reason many perceive these publications as just loud-speakers for the most well-connected members of the industry. I cannot disagree with you that your article answers the questions it sets out to answer. My criticism was mainly directed at the lack of input from the other side. I do disagree, though, that Mr. Talbott, is not attacking Mr. Cohen. The article is littered with little jabs at the way the company was supposedly handled. I am not, in any way shape or form, a beholder of inside information on this matter. Suffice it to say that I have a strong interest in the continued existence and growth of this company and I have been disturbed by the events and rumors that have swirled around town on the latest upheaval at the company. I do not know Mr. Cohen personally but have been privy to observe his actions and effects on the company for the last few years. I thought he was on the right path and word on the street was that Mr. Talbott was also supportive of him. It appears that patience ran out at some point along the line and I know many of us would like to know why that was. We were all very motivated by the prospects of future growth at this company and I, for one, saw that happening with the direction the company was taking under Mr. Cohen’s leadership. I’m now very concerned that we will go back to the old ways of mismanagement and stagnation that we’ve experienced for more than a decade now. The rumor mill has also been going hard here, I can assure you. And I dare say the rumors don’t favor Mr. Talbott. I have no interest in being responsible for the dissemination of any falsities but there are claims of under-handedness that are eerily reminiscent of the situation that surrounded the sudden loss of the former top man. I would like to hopefully see some of these rumors put to rest as they paint quite an ugly picture of the way Mr. Talbott treated his former CEO. I think it would be best to address these issues rather than let them fester. If Mr. Talbott has some amends to make, as it appears he might, I think it should be acknowledged instead of letting possible exaggerations taint the image of the company as a whole. But beyond all of this, it would be nice to know where we are heading as a company. It is all well and good to cater to our smaller constituents, but where are we going to be looking for growth? What is our strategy to survive in the face of stronger and stronger competition from overseas manufacturers who are really starting to produce quality goods that can compete with what we do here? I’m concerned about all this and I don’t think that Mr. Talbott, for all of his qualities and leadership, has the knowledge, experience, and connections in the fashion industry to lead us to higher levels of growth. He is simply not a fashion person and I hope that he will realize that for the sake of the company. So if not Richard Cohen than who can he tap to lead this company? And how can the next one be the right fit for Mr. Talbott? Perhaps the next one will have a chance if Mr. Talbott is not so intimately involved in managing the company as well? I think the bottom line is that there was a lot more that could have been discussed in this article if you really wanted to explore the situation as a whole. I might be biased because of my involvement with the company, but I think it has a fascinating story and I don’t wish to see that story become a historical artifact because of what sounds like petty issues. I realize that these are tough questions to ask and hard issues to dig into but I think that is also what makes a story go beyond just a PR piece devised by company marketers. I hope you won’t take my comments personally. I have enjoyed many of your articles and my critique is partly meant to express surprise at some of the holes I perceive in your latest piece. I’ll stay tuned and hope to hear more on the controversy and the future of this great company.
Who the hell is “Clive”? Sounds a lot like that pompous, arrogant Brit that buried this wonderful company. His track record as a “consultant” is abysmal. Ask the shirt company he mauled, ask the fine ladies company he almost put to death. Great interview with a nice accent & no talent. Disliked by everyone in the industry. What about the fabulous success with the Italian clothing line? The mail room boy could have been successful with that line in the 90′s. Just stay out of the way!
Does Clive live in Orange Cty now?
Robb Talbotts biggest fault is taking really bad advice from greedy, self serving opportunists who saw a chance to pillage the wealth of one of the great family run companies left
in the U.S.
Why is it that Robb Talbott is the only one that thinks he has integrity and character?
Blogs are all about the freedom to speak one’s mind, and the beautiful thing about them, is that everyone who wants to speak is heard and seen — there are no moderators. When one chooses not to comment or defend creating what may appear to be one-sided – isn’t that also the truth?
After first Robert’s and then Audrey’s passing, there were some big shoes to fill — because every retailer who ever did business with the company under her guidance loved the personal manner in which they were treated…and everyone who worked for the company also loved her. She was gracious and respectful and had great empathy for others….and her taste level was impeccable.
Since the days of Audrey, the company has been through a few management styles that have not been able to connect all of the dots — between legacy, margin, tasteful product and excellent retail relationships.
To Clive (From a surname meaning “cliff” in Old English, originally belonging to a person who lived near a cliff. …) hmmmm — for someone who is not “in any way shape or form, a beholder of inside information on this matter.” you seem to address many concerns with “we” ie: “But beyond all of this, it would be nice to know where we are heading as a company.” …… “where are we going to be looking for growth? What is our strategy ….” “we” and “our” and “we”….
I believe that Robb Talbott, who has achieved success in business with his passion of winemaking, and has inherited the grace and decency from his beloved parents, will figure out a way to keep the legacy of Robert Talbott by selecting the right people the next time around.
Perhaps Ms. Bravo will come out of retirement — the lady with smarts, style and vision, who took the Burberry legacy and exploded it into an empire while maintaining its original appeal.