Macy’s Exclusive Workshop Schools Entrepreneurs How to Make ‘Magic’

Best Class to date?

So how did the class this year stack up against the others?

Macy’s says they took a hard look at the program and made some readjustments. They strengthened their marketing classes, boiling down on the nuts and bolts that a small company with limited resources could take advantage of.

For instance, “We can teach them how to match colors. A color may look good in a display window in a brick and mortar, but not necessarily work for a dot-com. There are some dresses that will never be on Macys.com but will be in a store. It all depends on how a customer shops.”

No Guarantees for Success

Outler says she had people whose products she absolutely loved, who didn’t necessarily have the financial wherewithal or the strategic mindset to get there. And people who were just the opposite. They had great financials but didn’t have big enough creative opportunities for people to sink their teeth in. People who had solid ideas but didn’t figure out how to broaden it out into an attractive package with the right partner.

And the workshop itself doesn’t necessarily guarantee success. No one is guaranteed placement to showcase their merchandise at Macy’s, simply because they graduated the program.

Outler says, “There are people from our first class who are yet to launch with major retailers. They’re still online, doing their own little thing, but are yet to partner with someone in a big way.”

For those who can master the process, the sky could be the limit.

“We launched nine businesses so far, with some of our grads. But remember, the workshop is to build a pipeline within the industry, not just Macy’s. Not every vendor in the class wants to partner with us and vice versa. Walmart, Target or Saks could be a better fit or partner. What you envision for your line may be different from what it is.”

Some game changers from previous classes include Urban Intimates. Their marketing pitch or sweet spot was a Victoria’s Secret style line for large women.

They also just launched Mateo Bijoux, a jewelry line for men, utilizing leather and semi-precious stones.

You have to know what works for you, and come in with conviction and push hard to sell that. Macy’s wasn’t enthused about putting Bijou’s merchandise on display, but he convinced them and now he’s one of their top sellers.

Outler also had advice for budding entrepreneurs: “Most big retail owners created their business out of a personal need and then driving that demand, before realizing that there are partners out there like a Macy’s or a Saks that embrace the idea of partnering with them.”