We Hear You: An Open Letter to MEC Members from the Purchaser of MEC

VANCOUVER, BC, Sept. 21, 2020 /CNW/ -

Dear MEC Members,

We hear you.

We understand the news of MEC's sale – to an American private equity firm, no less – is concerning to some members. We get it. We really do.

And while we regret that a sale was necessary and appreciate that some members are angry about not having had an opportunity to consider a member-led solution, those matters were and are beyond our control.

What is not beyond our control – or yours – is what happens next.

Let us share a bit of what we have in mind. All we ask is that you hear us out and give us a chance to earn your trust. Because we believe that if we work together, we can not only save MEC but make it better than ever while remaining true to its values and ideals.

Our plan is pretty simple: above all else, we are going to put our customers – and the people who take care of them – first.

That means focusing on the stores. It means supporting our passionate people on the floor who have real knowledge and expertise, and focusing our product mix on the kind of outdoor living and technical gear that made you fall in love with MEC in the first place. It means we will be investing new money to improve the way our stores look and function, and how we serve people online. We will continue with the customer satisfaction commitments MEC is known for. And we will be engaging with the MEC community and all our customers to understand what's important to you and how we can serve you better.

We are going to streamline our product development processes so we can get better products to market faster. We will be improving the overall customer experience by optimizing our distribution network, reducing delivery times and significantly improving MEC's e-commerce capabilities. And we will be reducing the amount we spend on corporate overhead to increase the amount we spend on people, products and community.

We are also going to treat our customers like the co-op members you have been. It's still early, but we're thinking about things like special loyalty programs, discounts, and priority access to special events and product rentals. It also means that as we put MEC back on a stable financial footing, we plan to continue supporting the types of causes and organizations MEC has, like the Alpine Club of Canada, the Association of Canadian Mountain Guides and the Canadian Parks and Wilderness Society, because we share MEC's belief that encouraging people to get outside is among the best things we can do for our society.

Some might say "I'll believe it when I see it" – and that's totally fair. We expect you to hold us accountable and we welcome your constructive feedback.

We know you are passionate about MEC and its mission. So are we. In fact, your passion is a big part of what attracted us to MEC in the first place, and it's a big part of the reason we expect we can keep at least 17 of MEC's 22 stores open and retain over 75% of its active employees going forward. All from a headquarters in Vancouver, under local leadership who have deep respect for the MEC brand and its place in the lives of millions of Canadians.

We are eager to get started putting our vision into action, and to breathing new life into one of Canada's most trusted brands.  

As members, please continue to assert your passion, and remind us of what MEC means for you and our communities. We're not asking you to trust us – we're asking that you judge us by our actions, and by the experience we deliver to MEC customers.

Thanks for reading. We're thrilled to be a part of the next phase of the MEC story.

SOURCE Kingswood Capital Management LP