Vice President of Products

Position Title: Vice President/Senior Vice President, Product

Job Code: MG0450

Department: CEO

Reports to: CEO

FLSA: Exempt

Location: Aventura, FL (In-Office required: Monday – Friday)

About Balfour & Co.

Balfour & Co. is one of the world’s leading Collegiate and High School commencement services companies, offering innovative, personalized products like class jewelry, yearbooks, regalia, school uniforms and photography. With brands such as Balfour®, GradImages®, ArtCarved®, and more, we’ve been helping students celebrate life’s most meaningful moments since 1913. Balfour has around 4,000 employees and operates in 3 countries.

Position Summary:

Responsible for all activities related to conceptualizing and implementing product development strategies and achieving aligned goals and targets. Specific responsibilities include business and product development, re-invention of existing product lines, pricing, and new product development for all product lines.

Development of product assortment strategies that deliver the optimal online shopping experience for identified target demographics. Develop strategies in conjunction with online merchandising and online marketing to drive improved conversion and repeat purchase rate, leading to higher lifetime value. Work closely with the sales to identify opportunities within existing manufacturing capabilities and identify external manufacturers and retailers who can provide new categories outside of AAC’s legacy expertise.

Essential Position Functions:

• Develop strategic product development and processes roadmap, goals, and objectives for college, high school, and retail channels
• Elevate the Balfour brand and capitalize on new revenue creation with strategic partners across the organization.
• Evaluate and resolve technical feasibility, design optimization, and production issues
• Direct product development efforts on a project basis using tools, resources, and people to deliver goals and objectives
• Research and monitor existing client base and industry developments and identifies potential new product opportunities
• Oversee and provide direction to market and competitor analysis in which the product will be sold to find product trends and to gain a competitive edge on other’s designs
• Provide leadership and/or support the design, development, and implementation of all products and services for scholastic and retail
• Work with other departments/teams to develop business plans including technology development assessment, design, technology, product development, and vendor strategy, as well as product launch strategy
• Manage project budgets and prepare financial analysis reports
• Lead the online buying strategy, including all dropping ship and third-party vendors
• Provide knowledge and leadership for the overall Balfour product strategy and roadmap
• Develop networks of potential vendors in the gifting, alumni, fan, and school-based businesses
• Implement processes, tools, and best practices to drive efficiency of the team
• Negotiate all pricing, service, delivery, and SLAs with new vendors

Specialized Knowledge/Skills:

Education/Experience:

• Bachelor’s degree in business administration, Fashion Merchandising Management, Industrial Design, Engineering, or related field of study
• Bachelors’ degree required; MBA preferred
• 10 years of retail, merchandising or product experience
• Knowledge of online systems used to sell preferred
• Demonstrate ability to lead people and get results through others
• Ability to organize and manage multiple priorities
• Problem analysis and problem resolution at both a strategic and functional level
• Technical skills in strategic planning, business, product development, and market research
• Excellent interpersonal and communication skills including presentation skills
• Understanding of key buying preferences to drive online revenue
• Background in utilizing drop ship providers for sourcing online products
• Thorough knowledge of online tracking and digital analytics capabilities
• Knowledge of appropriate pricing strategies within the online buying discipline