Last updated: Tuesday, 10 March 2009, 14:46 GMT
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 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."
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 (SEE HER CONTRIBUTIONS ON TOP TIPS) 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?'"