Companies, including retail organizations, emerge first as a nascent idea, and then, when a viable opportunity promptly presents itself, a new business is born. These new enterprises prosper and grow, often as a result of the quality of their leadership as much as from the kernel of the idea that launched them. But then, retail brands fail when leadership falters or disappears. Succession is the fuel that ensures longevity.

Own the intellectual property, license the name, collect the fees, and let the operational partner take the capital risk. As retailers search for new profitable models, it turns out that the most valuable thing in retail is not the store but the story. Here is ABG’s.

Chip Wilson is an ex-retailer, ever since he sold and then gave up control of the company he founded, Lululemon. It was a brilliant retail startup because Wilson not only created a terrific store concept but practically invented an entire merchandising concept that hadn’t even existed before: athleisure wear.