BOSTON, MA – September 2, 2020– Newmine, an innovative retail technology company and consulting agency, announced today the establishment of their Advisory Board, which includes seasoned retail executives Graziano de Boni and Rich McMahon. The mission of this new Advisory Board is to unite visionary retail leaders to educate the industry on best practices to advance their competitive advantage through reducing product returns.
With a vision “to ensure retailers thrive in a transforming world,” Newmine’s Advisory Board seeks to meet the mounting challenges that have been presented to the retail industry by the COVID-19 crisis. “E-commerce business volume has grown immensely since March,” says Newmine’s Founder and CEO, Navjit Bhasin. “Product returns were already a significant challenge for retailers, and as more consumers shop more frequently online, the problem threatens the very survival of legacy retailers and customer-beloved brands.”
The Advisory Board includes highly regarded retail executive, Graziano de Boni, who brings over twenty-five years of senior leadership in fashion and luxury retail, having worked as CEO for Giorgio Armani, Valentino USA, and Prada. “I am thrilled to be joining Newmine’s Advisory Board,” said de Boni. “Newmine’s Chief Returns Officer® is at the forefront of AI/ML and Natural Language Processing as it applies to de-risking consumers’ returns. With digital commerce becoming the primary shopping channel, the great team at Newmine is at the forefront of technology applied to improving business performance and consumer satisfaction.”
Also joining the Advisory Board is former Chief Strategy Officer, President, Chairman, and CIO for Bed Bath & Beyond, Rich McMahon. “I am excited to partner with Navjit and the Newmine leadership team,” said McMahon. “As digital commerce continues at exponential growth rates, the reality of increased returns will present significant challenges for retailers. Newmine’s Chief Returns Officer® returns reduction solution will give retailers an opportunity to effectively manage and reduce return rates, improving their customer service and bottom-line profitability.”
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Newmine was established in 2011 as a highly focused retail commerce optimization firm. Comprised of former retail and supply chain executives with deep experience in retail strategy, operations, and technology, Newmine’s vision is to ensure retailers thrive in a transforming world. In addition to their operations and technology consulting practice, Newmine seeks to disrupt the returns management market with AI-driven returns reduction solutions. Newmine’s Chief Returns Officer® is an AI-powered platform that gives retailers a holistic view of integrated returns-related data from across the enterprise, prescribes corrective actions, and enables collaboration. Companies using Chief Returns Officer® reduce return rates and improve their EBITDA. For more information, visit www.newmine.com.
Graziano is a highly regarded executive with over twenty-five years of senior leadership in the fashion, luxury, and retail industry. With a vision and passion for early-stage new developments, while CEO of Valentino USA, Graziano launched Valentino.com e-commerce in 2003 in partnership with Yoox, one of the very first luxury brands to embrace the digital world. As CEO of Prada America, he continued this direct-to-consumer vision for the brand. At Armani as its CEO for the Americas, while working on creating a true omnichannel, simplified brand strategy, he applied his early-adopter instinct to introduce new technology. Analytics and the beginning of predictive analytics were set up in support to more insightful decision making. Sales associates were provided with the tech tools needed to communicate and interact with a new generation of consumers. The first social media and digital department was established to address the nascent digital revolution.
Richard McMahon is a visionary and innovative Founder, Digital and Technology-driven Senior Executive and Board Director with extensive experience driving transformational change and creating profitable multibillion-dollar organizations in retail and consumer markets. Since June 2015 Rich has been the Founder & CEO for cda Ventures LLC, a consulting, advisory and investment business working with consumer and consumer technology companies. Prior to cda Ventures LLC, Rich spent 17 years in Senior Executive roles at Bed Bath & Beyond including Chief Strategy Officer & VP Corporate Operations, Chairman – International and President – Institutional. Rich’s broad-based expertise includes strategic planning, e-Commerce, omnichannel, digital and new media, information technology, supply chain, merchandising, store operations, sales and marketing, brand management, training, contract negotiations, P&L management, turnarounds, customer relations and performance management.