What are Ashley Stewart’s bases for sustainable competitive advantage? Ashley Stewart43 An auditorium full of graduate and undergraduate students was eager to hear what James Rhee, the CEO of Ashley Stewart, the largest plus-size retailer in the United States, would have to say. How did a middle-aged Korean American man turn around a struggling brand that catered primarily to African American women? But Rhee was accustomed to such questions and ready to answer them.

Founded in 1991, Ashley Stewart was named after two distinct style icons: Laura Ashley and Martha Stewart. The founder Joseph Stint sold his shares of the company in 2000. The following decades saw some challenges, such that the company filed for bankruptcy in 2010 and then reorganized again in 2014. But by that point, Rhee—inspired by the brand’s promise and its connections to its customers—had resigned from his position on the board as an investor in the retailer to become its CEO.44 Today, Ashley Stewart maintains just shy of 100 stores in the United States and a global e-commerce platform, helping curvy women around the world find beautiful fashions that fit.