Sherrington Associates is the retained executive search partner for regional jewellery business Mococo, in their quest to appoint a new Managing Director to lead the business.
Overview
Mococo was founded in 2004 and soon became one of the best-loved branded jewellery retailers in the North-West of England. Over time the business has developed highly-successful relationships with some of the finest designers in the world, stocking a plethora of brands including Pandora, Thomas Sabo, Swarovski, Clogau and Chlobo. As a result of changing market conditions and the effects of the global pandemic in 2020, Mococo’s retail business was impacted significantly, resulting in a number of store closures, however their flagship store in North Wales has always remained a highly profitable outlet and well regarded in the industry by reference to the high standards of boutique jewellery retailing to which it operates.
In 2023, after 21 years, Mococo was purchased by the owners of a well-known regional corporate finance outfit The buy-out represents an exciting new chapter for Mococo, with ambitions for significant growth of their regional store network and a return of Mococo’s reputation as a strong regional player in the fashion jewellery retail sector. In 2024, Mococo is right at the start of a truly exciting growth journey where the new Managing Director will work with the board to shape the strategy for growth over the next decade.
Vision
"Mococo is still revered in the jewellery industry and the opportunity to acquire the business in 2023 was too good to pass up. The original ethos behind Mococo was to put the personal service back into jewellery retail and the reputation it has in the North-West is second to none. We want to build on this through a number of strategic store openings to become the number one independent fashion jewellery retailer in the UK, offering unrivalled levels of customer service. We are looking for an individual to join us on our journey and be an integral part of setting and delivering the future strategy. It is a tremendously exciting opportunity.”
Role Profile
The purpose of the role of Managing Director, is to lead, develop and grow the Mococo business, across all channels including retail high street and ecommerce. To achieve the board’s future growth ambitions, the new Managing Director will need to inspire, support, develop and lead the team and foster a collective culture of engagement, collaboration and excellence.
Principle Duties:
Developing and executing a strategic growth plan for the Mococo business, in line with the board’s overarching ambitions
Full P&L management of the Mococo business and effective budget responsibility
Leading the overall workforce, currently comprised of thirteen colleagues and six freelance contractors. This will include putting in place a regular programme of structured appraisals and ensuring all staff contracts, policies and procedures are relevant
Leading and managing the store retail business, currently comprised of six permanently employed colleagues, as well as temporary seasonal staff. This will include management and integration of new store openings
Leading the marketing team to research and assess customer demographics in order to make well-informed and data-driven decisions about brand alignment, geographical store positioning, marketing spend and customer-targeting
Leading the buying team to ensure optimal sourcing and excellent trading relationships with the current portfolio of brands and embedding a culture of intelligent and commercial buying decisions based on long-term sustainable growth. Maintaining optimum stock levels and stock mix is critical
Building strong, long-term relationships with brand partners (currently 12 external brands) by taking a hands-on, relational and collaborative approach. Ensure all brand trading arrangements are maximised.
Putting in place “plc level” processes and policies, for example stock count procedures that are robust and adaptable to the future growth plans of the business
Be responsible for all operational and administration matters of the business including health and safety, security, insurance, IT
Regular reporting to the board, via both weekly performance metrics and at in-person management meetings held weekly. Working collaboratively with brand partners, trade bodies, industry influencers and sector ambassadors to intelligently raise the profile of the Mococo brand. This will involve attendance at industry events.
Person Specification
Qualifications:
No formal qualifications are required, however a business management degree, MBA or any relevant leadership qualifications will be highly advantageous.
Knowledge & Experience:
Experience of leading and managing an expanding retail or ecommerce business, either at multisite branch / regional / head office level, or working for a high-end luxury brand in a senior management position, ideally working with retail and/or ecommerce clients
Experience of working with/for and driving growth with/through third-party brands
Extensive experience of managing diverse teams of colleagues and/or outsourced contractors
Experience of achieving growth, preferably within an SME branded-goods business or similar
Has an understanding of either the jewellery or wider luxury branded goods sector, gained from senior roles in relevant organisations
Skills & Abilities:
Able to confidently lead, engage and inspire diverse groups of team members and colleagues
Able to work collaboratively with the board to develop an effective strategy for growth, of both a bricks and mortar retail chain, as well as a thriving online channel.
Excellent interpersonal and communication skills, able to inspire confidence across a wide range of stakeholder groups including colleagues, customers, brand partners, suppliers and industry bodies
Makes well-grounded leadership decisions based on both relevant data and good intuition. Being comfortable with using data is essential
Able to think long-term and make decisions that support the long-term sustainability of the business
Highly organised with excellent attention to detail, and is able to manage a complex diary with often competing workstreams
Prepared to roll their sleeves up and be hands on in the role
Required Character:
Ambitious – Driven by the opportunity to lead a growing SME jewellery business
Entrepreneurial – Ideas-orientated, an intuitive visualiser, is able to turn ideas into action
Strategic – Thinks long-term, is able to competently evaluate risk when making decisions, and considers all aspects of the value chain when developing plans for growth
Action Orientated – Has the ability to make decisions autonomously and make things happen
Purposeful – Shares the organisation’s collective ambition to develop a successful, impactful business that is fun and exciting to be a part of
Resilient – Has the innate determination to overcome setbacks, is thick-skinned and has developed robust coping mechanisms to overcome adversity in business
Accountable – Takes ownership of the overall responsibility of running the business, brings a hands-on leadership style and a ‘gets things done’ mentality
Other:
- Has a real interest in fashion and the jewellery sector specifically
- Some flexibility to travel and stay away occasionally for industry exhibitions and trade events
- Excellent IT skills including Microsoft Office applications. Experience of Shopify platform desirable not essential
- Full and valid UK driving licence is essential
Remuneration
Salary
A competitive basic salary, depending on experience.
Benefits
- LTIP: EMI share option scheme
- Pension: 3% employer contribution
- Holidays: 25 days holiday plus statutory holidays
- Other: Staff purchases discount scheme
- Notice period: 3 months on either side after successful probationary period
Hours & Flexible Working
The role of Managing Director requires forty hours per week. We expect the role to be largely based from Mococo’s head office in Deeside, however there is an expectation that the Managing Director will also spend time in store. Furthermore, there will be some flexibility to work from home occasionally.
Selection Process
To apply, or to request a full recruitment pack, please contact the retained executive search partner, quoting Job Reference - RM364:
Joe Onions - Executive Search Consultant
E: info@sherringtonassociates.co.uk
