June 25, 2024

In our Leadership Spotlight Series, we are highlighting executives across our Company who are driving innovation, transforming business practices, and positively impacting the communities where we live and work.

In 2022, Marc Compagnon, President of Centric Brands Asia, took on the ambitious task of creating a center of excellence by opening 11 offices across Asia. This bold move marked the beginning of a significant shift in Centric’s sourcing strategy, aimed at ensuring the Company’s competitiveness in an ever-evolving market.

We sat down with Marc to hear more about the expansion of Centric’s global footprint.

What developments and innovations are occurring within Centric’s sourcing strategy?

One of the cornerstones of our strategy is to diversify. While China remains a key market, we have expanded into Bangladesh, Vietnam, and Cambodia. This diversification mitigates risks and leverages various market opportunities.

We are also in the process of expanding into duty-free countries to further enhance efficiency by building a robust on-the­ground presence in key regions. With local staff in countries like Kenya and Egypt, the Company can ensure effective management of operations.

Plus, by empowering our teams in Asia to make timely decisions, we’ve significantly reduced delays caused by time zone differences and extensive cross-border communication.

What steps is Centric taking to improve operational efficiency and supply chain management?

To tackle logistical challenges and improve supply chain efficiency, Centric has established a dedicated logistics function in Asia, working closely with counterparts in North America and Europe.

How is Centric enhancing its vendor partnerships and what benefits do these initiatives bring?

Establishing a strong network of vendors is critical for the success of our sourcing model. Therefore, we have expanded our vendor partnership program to:

  •  Focus on doing more business with fewer, but more reliable, vendors, fostering deeper collaboration and mutual growth.
  •  Establish credit Insurance programs with existing and new vendors. This initiative aims at increasing revenue and mitigating financial risks.
  •  Implement a vendor financing program, providing financial support to vendors and enabling earlier payments. This program not only strengthens partnerships but also creates a new revenue stream for Centric.