My Bottom Line: Scott Malkin, Value Retail

Scott Malkin is the founder and chairman of Value Retail which owns the outlet shopping centre Bicester Village.

He says in fashion you are only as good as your next collection and past success should not be seen as a guarantee for a successful future.

Scott says the most important thing in retail is to focus on the customer - especially women and how they enjoy the experience of shopping.

However, many fashion and retail companies are run by men and Scott says this is a mismatch which many companies should rectify.

Scott appeared on The Bottom Line which is broadcast on BBC Radio 4 and BBC World Service. Listen again via the download or watch it on the BBC News Channel.

Find more business wisdom from other chief executives on the My Bottom Line website.

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