Betting on Best & Co.

Aside from the proudly displayed photo of herself as a toddler in a Best & Co. coat, Gregg Renfrew's New York City office isn't what one might expect for the CEO of a company that prides itself on traditional Fair Isle sweaters and wool toggle coats. Think modern orange Eames chairs and a big red lacquer table. Renfrew, 38, officially joined Best & Co. in January (she had previously done consulting work there), but has already taken steps to solidify its status as the top tier of the fast-growing high-end children's-wear business.

Renfrew made a name for herself as an entrepreneur when she acquired The Wedding List, a company she turned into an innovative wedding-gift-and-registry Web-centric business that she then sold to Martha Stewart Living Omnimedia in 2001. She followed that stint with six months of volunteering in South Africa and several consulting gigs at small businesses like designer Vivienne Tam and retailer Intermix.

At Best & Co., she intends to make full use of her Web-savvy past. "Moving forward, if you can get something in our stores, you'll be able to get it online. It will all be channel agnostic." There are plans to expand retail locations as well, but Renfrew is reticent about specifics. Instead, her eyes widen with excitement as she addresses the importance of branding. "We have a real opportunity in the children's market to create the voice of authority and educate people and, I say this confidently, not condescendingly, help people with what they need for their children."

The Best & Co. name was first revived in 1997 when Susie Hilfiger saw a void in the kids' market and acquired the name of a beloved, but bankrupt, department store. "It clothed generations of children and it was the go-to resource for beautiful, classic children's clothing," explains Renfrew. That has been the company's mission since the first Best & Co.'s demise 35 years ago.

From that time, things have changed dramatically. Namely, more people are waiting longer to have their first child. Renfrew, a new mother, is acutely aware of this shift. "You see these women now, 38, having their first child, and they're successful, and they've got the money to spend, and they know what they like, and they want their children to be within that fashionable thing as well." And that means they're willing to shell out $150 for a cashmere baby sweater.

In recent months, the market has responded to this demand with an influx of popular brand names (Marc Jacobs and J. Crew among them). But Renfrew welcomes the competition, steadfast in her belief that the basic mission of Best & Co. will ensure the company's success. "We're singularly focused on children's clothing, and we therefore will do it best because that's all that we do."