Marc Cain's incoming leader Patric Spethmann: “It’s not just about appointing a new CEO”

Patric Spethmann will become the new CEO of Marc Cain in June. In choosing the former chief operating officer of Marc O'Polo, company founder Helmut Schlotterer hasn't opted for a notorious high-profile leader from the fashion industry, known for being in the limelight or for spectacular turnarounds.

However, Spethmann's profile promises to be an exciting appointment for the company's future. He combines a deep understanding of technically complex issues with a great passion for the dynamics of the fashion industry. Throughout his career, from Tchibo and Otto to Marc O'Polo, the new leader of Marc Cain has built a reputation as an expert in operational transformations and a skilled team leader.

In an interview with FashionUnited, he discusses his management philosophy, what makes a good CEO, and his initial approach at Marc Cain.

Why did you decide to move to Marc Cain after your successful years at Marc O'Polo?

Patric Spethmann: In my view, a chief operating officer should achieve their goals within five to eight years. This means tackling issues with great urgency to bring about change. This approach worked very well at Marc O'Polo.

What attracts you to the CEO position at Marc Cain?

It is a fantastic product and an incredibly strong brand with a powerful market appeal. The combination of creativity, quality and forward-thinking is completely embedded in this company, which perfectly captures the zeitgeist. Now that my work at Marc O'Polo is complete, I was drawn to the position at Marc Cain to help the company evolve.

Do you have a plan for how you will proceed at Marc Cain in the coming months?

In the first three months, the goal is to gain a comprehensive and objective 360-degree overview of the company by engaging with all parties involved. This includes managers, employees, customers and stakeholders, in order to get a good feel for the brand and its products. One's perception becomes more influenced the longer one is with a company. It is therefore important to quickly gather different perspectives, evaluate the findings and build a solid understanding right from the start.

Does that mean it's still too early to talk about specific goals at Marc Cain?

That would be completely presumptuous at this stage. We can certainly discuss that at a later date.

Marc O'Polo's turnover has grown rapidly in recent years despite the difficult fashion market. Did that speak in your favour as the future CEO of Marc Cain?

It is essentially the same industry, but a different business. Marc Cain is clearly positioned in the premium segment. It operates differently and the customer base is different, so you certainly can't replicate things one-to-one. Of course, there are some fundamental principles for achieving growth while increasing efficiency. Marc O'Polo managed that well. I was one of five board members there in the end; we were simply a great team.

At least the experience of working in an owner-managed, medium-sized fashion company is transferable.

I have always worked with owners, whether at Marc O'Polo or Depot.

What is the chemistry like between you and Mr Schlotterer?

I have great respect for Mr Schlotterer and for his life's work. I also respect his understanding of how a company must evolve to remain relevant in the future. We are in complete agreement on this and think along the same lines. We are always in close communication.

Do you also see eye to eye on the direction a medium-sized fashion company needs to take?

We share a common understanding on many topics regarding the direction the brand, the products and the company need to take. The important thing is to bring the employees, customers and stakeholders along on this journey.

Letting go can be difficult for company founders.

Mr Schlotterer and I are clear about what is at stake. This is not just about appointing a new CEO, but about continuing his life's work to ensure its future growth. We both understand this. We have known each other for some time and have been able to answer these questions for ourselves: he for himself, I for myself, and us together.

What are the most important tasks of a CEO?

As CEO, I see four pillars. The first is strategy and vision: where does the brand need to go? Where will its relevance be in five, ten and 25 years? The second is culture and values: how do we interact with each other within the company? A clear task for the CEO is to have the right people in the right place and to be in control of the key figures. The overarching goal, however, is to motivate people to develop, to bring them along and to connect them with each other. This is the energy that drives the company forward.

What makes a good CEO in your opinion?

I have always been firmly convinced that a leadership role, whether CEO, COO or director, is a communication role. It is a matter of attitude, direction, decision-making, togetherness and team spirit. Leaders at every level must succeed in building a team of many different characters. These are people who want to work together openly to achieve the best for their company. I believe I have succeeded in this at every stage of my career.

How do you get employees on board?

If you want to inspire change in people, you have to be enthusiastic yourself and inspire others. You cannot achieve that by simply telling them what to do. When they feel for themselves that something exciting is happening and that they are interested in it, they will have the courage to ask: “Hey Patric, tell me, how can I contribute to the company's success?”

What kind of leader do you want to be?

I believe it is very important to be transparent, communicative and authentic. This is especially true for a leader and even more so for a CEO, because you are seen by the entire company. It is important to me that employees understand how I operate: what kind of person I am, what I value, what I cannot tolerate and what I do not want.

Before Marc O'Polo, you worked at German retailers Tchibo, Otto and Depot. What is attractive about the fashion industry?

I have been working in retail for 25 years. It is certainly a particularly challenging time right now, but there has always been a lot of movement. The speed required in this industry, coupled with changing customer demands, has always created a strong dynamic. I still find that fascinating today. The fashion industry is simply exciting and inspiring.

How important is it for you to identify with the industry and the product?

The fashion industry allows you to connect with creative minds and work with truly inspiring products. For me, that makes it incredibly rewarding to invest my time and energy. I identify with it completely; I simply cannot imagine doing a job where I don’t fully believe in the product.

The fashion market is challenging at the moment. What do you think is essential for a medium-sized fashion company to succeed today?

The entire fashion market and the retail industry as a whole are undergoing a deep structural change. Today, the concept of shopping as an event is much more prominent. Additionally, many cities, especially the medium-sized ones where Marc Cain has stores, do not know how to implement this attractively. At the same time, there is a need to invest in large projects to advance technology. To do this, a company must be sustainably profitable. Many medium-sized companies, not just in the fashion sector, are facing this balancing act.

What moments have shaped your career and you as a manager?

Working with teams has been a defining aspect of my career. Discovering and nurturing potential, giving people space, building mutual trust and watching them grow has been very influential. The feeling that my work has a lasting impact and that I have helped to shape someone's development is very fulfilling for me.

Can we conclude that working with people in a team is what drives you and defines your work at the C-level and as CEO?

My job is to foster the development of employees in all departments. They need to be better in every area than I could ever be. This is true for a COO as well as a CEO. Why should employees follow someone who is technically less capable than they are? They will only follow a person they trust, someone they feel has a grasp of the bigger picture at a higher level. This person must be authentic, able to communicate transparently, understand and simplify complex problems in any area, and get to the heart of the matter. They make decisions, build a vision and find solutions together.

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