Miles Grey Interview
Miles Gray handing over the reins.
This week Fusion Associates speaks to Miles Grey CEO Ben Sherman.
The end of February will see former CEO and Interim Chairman of Ben Sherman, Miles Gray, step down from his role at the brand.
After 12 years at the company and having held senior positions during his career at Pepe Jeans, Wrangler and Lee, what's next for the once-named Fashion Exporter of the Year?
Having made the decision to retire - and with his successor, ex-Diesel executive Pan Philippou, settling into the role - will it all be cigars and the golf course for Gray come the end of the month?
"I'm going to take it easy," he said.
"Play a bit of golf and visit my house in France - intensive French courses are another project for this year! But I think I'll also do some non-executive work, mainly in the clothing and young product sector as I have a fair bit of experience there.
"Perhaps a few days a month just to keep myself interested," explained Gray.
However, the 63-year-old has also got some more adventurous activities planned for his time off.
In October, Gray plans to trek around the Himalayas on the Annapurna Trail and a trip to New Orleans with some ex-rugby friends is also on the agenda.
"Pretty hedonistic you might say, but things like that I've not had much time to do."
How did it feel handing over the reins to Philippou?
"I keep having to pinch myself that it's my decision. But it's time and I've been travelling for about 40 per cent of the year for the last ten years - the attraction of that starts to pall a little bit.
"But it's a young industry and Ben Sherman is something that I've really lived, eaten, slept and breathed for the last 12 years.
"Luckily, I was able to get Pan to join us as he's an ideal candidate. I'm so pleased he liked us too. He's a good business man - a chartered accountant by trade.
"He'd worked for a more aspirational brand than us - Diesel - and he ran the brand in the UK and US - our two biggest markets - and he did a lot of retail opening, which is expertise that we wanted to enhance within Ben Sherman.
"I'm so intimately involved in the company you sort of have an innate feel of who would fit and after five to six weeks of working together that's proved to be right."
Is there a time in your career that gave you the most personal satisfaction?
"Buying into Ben Sherman after being here about a year. That was a great thing to be able to do and it made us all financially secure, which is great," said Gray.
"But I guess another good feeling for me is to have done what we have done with Ben Sherman - turn it from that one-product, one-country brand to what it is today, that's been really good," he added.
"When I first joined, we were just selling men's shirts in one fit in the UK and Republic of Ireland and I knew that didn't have enough legs to give it any longevity.
"And now maybe only 40 per cent of what we're selling is men's shirts and just under half of our sales come from the UK."
Ben Sherman now operates in around 40 markets worldwide and boasts mono-brand stores in the UK, US and Germany.
"When I look back, I'm pretty proud of that. I drove the ship I suppose and got the right people on board that have been really key in making it all happen."
Other times that bring back good memories for Gray included turning Pepe Jeans into a £30 million business in Germany, learning a new language and making the country home - as well as launching his own clothing brand in the '70s - Razzi Jeans.
"I had five shops in the Kings Road and customers all over the UK. It was a pretty hot brand. But I got a few things wrong, which was a hard lesson to learn, but they haven't done me any harm."
Looking back, do you kick yourself at any missed opportunities along the way?
"Yeah, when I got into difficulties with my own jeans brand we probably didn't turn to the banks and other people to help us out of it. We probably could have grown a brand as big as G-Star or Diesel, because at that time those guys were in the same sort of development and were just as unknown.
"I wish I'd hung on and found a way out, but it doesn't keep me awake at night."
What have been the most important lessons you have learned?
"I guess one of the things I've learned is when you look at companies from the outside, you think they're all so bloody clever, but when you get the opportunity to get inside or get to know them, you realise they're no better than you are.
"But you need to have that sort of inferiority complex as it drives you.
"Also, Napoleon said that there are generals for the war and generals for the peace and I think I am more a general for the war. In so far as you can be in the deepest problem, but actually if you stand back and take just one problem at a time, you can work your way out of it.
"Not all of those problems are going to happen at 9am the next morning. You can have time to deal with one, dust yourself off and deal with another."
What will you miss the most about Ben Sherman?
"I've been so lucky looking back on it. It's such a fantastic, fun industry. Collections change four or five times a year and I'm going to miss working with younger people.
"I'm off to a project show in Vegas, which will be my last one and I'll miss Bread & Butter. But who knows? I'm going to give this non-exec stuff a whirl."
Do you have any parting advice for those still in the industry?
"Tenacity will always win through. It comes down to hard work; you don't get anything for nothing. I learnt that out on the road selling. You've got to pick yourself up and dust yourself off and start all over again.
"There are no shortcuts.
