Job Title: Director of Product Development & Innovation
Location: New Providence, NJ (hybrid)
Position Overview:Do you have Product Development experience in the toys and/or arts & crafts categories? Do you thrive on hustling to create and conceptualize new products? If so, we are looking for you! As a Director of Product Development & Innovation, you will be responsible for driving the product development and innovation strategy for your assigned categories including trend identification and translation, development product assortments and custom programs, rationalizing go-forward products and driving category growth in developing new, adjacent opportunities within the Kids Craft & Activity areas. To be successful in this role, you must have a drive and passion for product along with an entrepreneurial spirit that thrives in an incredibly fast paced environment.
Key Responsibilities:- Responsible for the vision of designated brands. This includes driving the development and execution of products that align with the assigned brands/programs and where necessary, working with licensing team through strategic partnerships, and pivoting and re-positioning products and brands based on changing market environments.
- Oversee the creative product development process, enforcing key milestones from product conceptualization to merchandising pass-off; working alongside senior cross-functional leadership in merchandising, design, sourcing, compliance and sales.
- Drive new product execution while maintaining existing portfolio of products; lead white space due diligence efforts with product development to identify growth avenues.
- Mentor creative development team on consistent connection between ideation and marketability and bottom-line sales generation & profitability.
- Work alongside merchandising teams to ensure all projects align with divisional strategic goals, whether in brand extensions, category expansion, direct sourcing initiatives and/or parallel category diversification.
- Strategize with sales and merchandising leads on quantifying and prioritizing new category growth opportunities; balancing with corporate initiatives and core competencies.
- Collaborate with design and engineering team members to generate and execute new product and packaging concepts.
- Communicate with overseas offices on all existing brands, new product development and global sourcing initiatives; Lead strategic sourcing/negotiations efforts as necessary in projects surrounding new product categories, partnering with merchandising, sourcing and Shanghai teams. Collaborate with sourcing teams to identify needs outside of existing vendor matrix in order to develop incremental subcategories for volume-driving innovation projects.
- Proactively work alongside product safety and compliance teams to ensure a consistently high level of quality for all kids product categories.
- Lead regular competitive landscape reports across major channels of distribution, identifying key market and product gaps and opportunities.
- Collaborate with internal teams to prepare for retail presentations and industry trade shows.
- Partner with merchandising leads on strategic costing negotiations in collaboration with global sourcing and overseas merchandising teams; ideate and innovate with an eye towards costing goals while maintaining the integrity of the product.
- Understand POS data and identify plans to capitalize on trending products and categories; as well as identify gaps in distribution and retail laddering.
- Collaborate across the organization to lead product vision alongside design execution, and provide product development leadership to all segments of the business.
- Professionally train, develop and mentor members of the product development & innovation team.
What You'll Bring:- At least 8 years of product development/merchandising/brand management experience, ideally within a very fast-paced, quick turnaround industry. Toy, Tween or Craft experience is HIGHLY preferred.
- Experience with custom product development is required.
- Must be a dynamic, passionate leader with ability to multi-task amidst shifting priorities.
- Must have strong written and verbal communication skills with the ability to effectively present in front of large audiences.
- Must have the ability to work in a hybrid capacity from our New Providence, NJ office at least twice per week.
