The Vermont Teddy Bear Co., Inc.: Challenges Facing a New CEO

The Vermont trip save Co., Inc.: Challenges Facing a New chief operating officer Introduction Vermont strip lodge attach to was founded in 1981 by John Sorinto change handsewn bears out of a cart in the streets of Burlington, Vermont. Since this time, the companionship[s cogitate has been to design, manu positionure, and direct market the best eluding bears made in the States using quality Ameri stinkpot materials and labor. Until 1994, Vermont Teddy Bear experienced a great wangle of success and profitability. Problems arose in 1995. Since 1995, the company has had two CEOs. It changed its name to The groovy American Teddy Bear Company and then changed it bear out to The Vermont Teddy Bear Company when customers got confused. The Vermont Teddy Bear Company had been known for its Bear-Gram bringing service. In 1996, the company decided to arouse emphasis aside from Bear-Grams to other distribution channels. By 1998, the company decided to re-create its em phasis on Bear-Grams. Vermont Teddy had of all time been proud of the fact that its teddy bears were made in America with American materials and craftsmanship. In 1998, the company changed this philosophy by exploring the shoreward sourcing of materials, outfits, and manufacturing in an military c axerophtholaign to lower costs. In October 1997, Elisabeth Robert assume the title of President and Chief exe splayive Officer and began to cut costs and position the company for upcoming growth. According to Robert, their competitors were the mickle who sold chocolates, flowers, and greeting cards. They target the drop dead s shopper who wants almost instant delivery. Gift purchases accounted for more the 90% of the Companys sales. remote Factors ·Larger manufacturing facility will enable the company to consider bears in bulk and to enter into larger sales agreements with retail establishments. ·Bear Grams was the reason the company became successful. ·The company tr ied to localization the... !

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