Library / Biographies | Industries

Date of review: July 2020
Book author: E.Schepin
Вook published: 2020

VkusVill. How Revolutionize Retail by Doing All Wrong by E.Schepin (2020)

It is a very interesting book sharing experience of launching a new retail chain in a fairly competitive market in a country that faced several macro headwinds during the time of growth.

The business offered quite unique product to customers – fresh, healthy food in local shops. It was started by a young manager who needed fresh dairy products for his baby and could not find the right quality he was looking for.

Important lessons for me include the following ones:

  • Customer comes first. Customer feedback is extremely important, process focused on permanent improvements based on feedback received. There are also limits to the rule 'Customer is always right' when he/she becomes rude or is lying, for example.

  • Business and you have to stay agile, Vkusville has never had a detailed no business plan, very interesting approach to KPIs which are essentially replaced for 'promises'.

  • Have trust in employees, treat them as partners, maintain open dialogue, idea brain storming, few formal processes / attributes (e.g. no dress code).

  • Hiring new people – better to ask friends, like-minded people with the same values are more important than skills, no need to use HR for that.

  • Financial approach – the business has always been fully funded, no external capital, debt has ever been raised.

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