The Art of an Exciting Buy – 2 New York Buying Offices Share Secrets of their Success…including how to shop the Show

Penny Rosenberger shares lifelong passion for fashion with students

Penny Rosenberger of The Merchandise Network hires fashion and merchandising students as interns at her business in New York. The founder and president of the 28-year old off price buying office says she profits tremendously from the youthful perspectives and kindred affections from these future professionals in training.
"I give them real work to do. There's nothing like a young mind, or pair of young minds...if you can get them away from the texting, they have a huge amount of drive like I did at their age...and still do!"
The students come from a program at the nearby Kingsborough Community College. They are as young as 18, the same age Penny was when she took her first job in the trade.
"I wanted it since I was a child," Rosenberger claims. "I loved dressing people and watching fashion change."
She was in the business for 12 years before starting her first company in 1968. In 1981, she started "Price Breakers," which would soon change to its current name "The Merchandise Network."
"We wanted to go a little softer on the name because back then the brands were conscious about who they were selling to. Now, no one cares about working with off price buying offices because they know that discount retailing is driving the market."
Rosenberger has been attending the Off Price Show since it began in 1995, and her many years in the business make her a valuable asset to retail and jobber customers alike.
"In '89 there was a huge article in WWD on buying offices. There were photos of myself and 7-8 other buyers featured. And I'm the only one that's still working in off price. You know what they say: 'a quitter never wins and a winner never quits.' And today, off pricers are the winners. We are not second rate - we do more business than the guys who call themselves 'first quality.'"
Rosenberger's company, The Merchandise Network, represents a lot of small chains, and buys for a lot of other jobbers. This makes her an attractive option for brands looking to move product.
"In the past they would go to one retailer to get an ideal price. Now they will come to me because they know that distribution is less harmful."
She focuses on bottom price point goods and high end merchandise, and wants to see more top of line options at the Off Price Show.
"The middle of the road merchandise is hurting. For retailers to survive in today's market, they have to make a focused statement. They have to find a specific market to target."
Her strategy for shopping the Off Price Show is simple: Come early, come often.
“I spend 4 days at the Off Price Show. I get there at 7:30 am (half hour before opening) and I am not back in my room until 6:30 pm. The amount of time you spend at the show is critical because you are able to source in one place. Plus, you always need to be looking for new vendors.”
Rosenberger is optimistic about the future of retailing, which is why she works with students or what she calls young professionals in training.
"My hope is that people will start to buy clothes again since they're not buying cars or homes. Women may not hold out for much longer before buying new clothes."
In this spirit, Rosenberger believes that all retailers need to be open to new trends, as well to be open to the advice of seasoned professionals like herself who've had to reinvent themselves over the years.
"For me, I thought that the fashion aspect of my job went out the window a long time ago. But now here I am working with top designer options for my customers. Every retailer has to say to themselves 'how do I reinvent myself?'"
Penny Rosenberger welcomes calls and visits to The Merchandise Network at 1384 Broadway, Suite 1200 in Midtown Station, New York, NY 10018.  Phone: 212.730.1117 / Fax: 212.730.4844 / Cell: 917.583.6500 / merchandisenet@aol.com. 
Dianne Cohan Seeks the “Exciting Buy” First at the Off Price Show
New York Buying Service Asserts that Buyers’ Focus on Category Limits Creativity and Profitable Buys

Dianne Cohan has been in business for several years buying ladies’ and men’s apparel for all types of stores and jobbers.  She was a retail buyer at Paul Harris Stores, Brooks Fashions, Weathervain Stores and a division of KMart prior to opening her own office.  Her company, Dianne Cohan Associates, Ltd. has been in operation for over 20 years.  Key customers include United Fashions of Texas and Richmar Fashions (Booth #378 at the August 09 Show), who was her second customer. 

“I have some of the same customers I started with twenty years ago.  As long as they are still in business, they’re with me.  We’ve established a trust in each other.”

More than a traditional buying office, Dianne helps stores find their personality in the fashions. 

“A big part of what the stores want is that individuality.  So what I provide for the stores I represent is that individuality that fits their store concept.”

On an average situation, she sets up a time for the store to come to New York that’s advantageous for them.  She scours the market for them in advance, and sources the products before anyone does to ensure quality.  She also has products developed for the stores.  When they arrive in New York, Dianne and her clients walk the entire market together.  And when they return to their headquarters, she is in constant communication with them through the entire product cycle to guarantee satisfaction.

“It’s extremely fulfilling, especially when it’s carried through.  My job’s not done until the product is sold at retail.  It’s very stimulating.”

Cohan has been coming to the Off Price Show for eight years – twice a year.  She found that the show has helped her increase business.  Each show has always been very successful for her. 

“The arena that the Off Price Show provides allows the buyer to have EVERYTHING at their fingertips.  It’s very accessible and set up in a very easy way to shop it.  It does not need to be arranged categorically.  We’re looking more for the ‘exciting buy’ than we are by category.  The only exceptions would be accessories, footwear and home & gift.”

She meets with her clients at the Off Price Show and they “shop the market together.”  She makes the appointments with the exhibitors for them in advance, making sure that the exhibitors have the appropriate products for her clients.  As for her jobber-clients that exhibit there, it gives her an opportunity to meet with them on their turf.  At the last show in February, she was pleasantly surprised to see how busy her exhibitors were.

“I realized that I shouldn’t have been surprised because there is always good business to be done if you give the customers what they want.  I was at another Fashion Week trade show and was talking to women in line waiting for their badges.  I asked them if they have been to the Off Price Show.  They said, they hadn’t gone in many years, but went this year because they needed a great bargain.  I asked if they found it, and they said yes.  I asked would you come back next time and they said yes.  It left a great impression on me because people in today’s market want the ‘special price.’”

The components of a good buy – an exciting buy – according to Cohan are:

1. it needs to be the right item – which today, translates into fashion at the right price.  Because fashion and novelty is the excitement that causes the register to ring at retail.
2. it needs to be good quality.
3. it needs to be an exceptional price.

Cohan maintains that a smart retailer will fit new products into their mix if they meet these three criteria. 

“Retailers need to be open for new ideas, to be willing to test new fashions so that they can hit on the items.  They always must be willing to test.  The trends out there, they just need to remain Open-to-Buy so they can figure out which ones work.”

She feels that the Off Price Show this August will be as good as or better than the February Show because people are still going to be really into getting the bargains.

Dianne Cohan lives and works in Manhattan.  She loves to entertain and she loves to travel, but she also loves to go out a lot.  Buyers and jobbers are always welcome to call her because “people who come to my office get good business.”

Dianne Cohan Associates is located at 1407 Broadway, Suite #1019; New York, NY 10018
212-719-3008 / fax 212-719-3179 / cell 917-716-3218  / email DRCSLY@aol.com