INDIANAPOLIS, September 21, 2021 /PRNewswire/ — Leading sporting goods retailer Lids has announced the promotion of Britten Maughan to chairman, the company announced today.
Maughan has been a key contributor to Lids’ continued growth since joining the company in 2019. In his role as Senior Vice President, Marketing and Partnerships, Maughan has overseen all aspects of product, marketing, merchandising, partnerships and distribution for the retailer. Most notably, he implemented an improved business process with the introduction of data analytics to drive merchandising and allocation decision making. He also focused on improving product assortment, with inventory levels leading to increased margins, higher inventory, additional traffic and ultimately record sales results.
“I am fortunate to be supported in my new role by the best and the brightest,” Maughan said. “My teammates are exceptional and as a group we have turned a declining business into a thriving one. Lids performance metrics are at all time highs including traffic and conversion. The vision, capital and the resources we receive from our ownership group, Ames Watson, have been a catalyst for our growth.I am excited to leverage my expertise as a retailer and merchant to take Lids to new heights, including signing new partnerships and expanding our footprint both domestically and internationally. Lids is a growth-oriented business and that brings opportunities and challenges. We are ready for them.
Prior to joining Lids, Maughan held various positions at Fanzz during his five years with the company, including as Vice President of Buying and Marketing. With Fanzz, Maughan oversaw the success of 125 sports-licensed Fanzz retail chains before its acquisition by Ames Watson in 2019. He also held senior roles at Wal-Mart as a senior planner and was a buyer at Overstock .com. Maughan earned a BS in Economics and an MBA from Indiana University. He resides in Zionville, Indiana with his wife and four children.
“We are incredibly proud to announce Britten Maughan as Chairman of Lids, effective immediately,” echoed Tom Ripley, Chairman and CEO of Lids. “Over the past three years I have seen Britten’s influence, breadth of control and professionalism elevate the level of performance of his team and his peers. Britten is well prepared to lead Lids into their next phase. of growth.”
As part of Maughan’s promotion, Ripley will become executive chairman of Lids in addition to his active role as co-founder and partner at Ames Watson. As executive chairman, Ripley will focus on Lids’ continued growth initiatives alongside several of the company’s key partners, with a particular focus on the retailer’s international expansion. Maughan will report directly to Ripley.
Lids is the largest headwear retailer in North America, with more than 30 million hats sold each year in its nearly 2,000 physical stores. Following its acquisition of Ames Watson three years ago, Lids has grown into a billion-dollar business and continues to be the largest brick-and-mortar retailer of licensed sporting goods in North America, including a rapidly growing non-sports brand business and continued international expansion.
Lids Sports Group is the largest licensed sports retailer in North America, selling fan- and fashion-focused headwear and apparel across United States, Canada, and Porto Rico through nearly 2,000 points of sale. IndianapolisLids Sports Group, based in Lids, offers officially licensed and branded gear aimed at enabling customers to represent their unique and individual style, team, passion and enjoyment. Lids Sports Group operates stores under the names Lids, Locker Room by Lids, Fanzz, Yankees Clubhouse Shops, Dodgers Clubhouse, Cardinals Clubhouse and many other nameplates. Lids also has locations in select Macy’s department stores nationwide. To find an outlet near you, visit blog.lids.com or join #LidsLoyal on Instagram (@lids), Facebook (@lids), Twitter (@lids), or LinkedIn.