Macy's kicks off 'The Workshop' program to do more business with women
Macy’s recently announced The Workshop at Macy’s, a new program it has created to attract and prepare more women entrepreneurs to be vendors and merchandise suppliers for the company in the future.
Lisa Price
“We saw the need and opportunity to nurture and support up-and-coming minority and woman-owned businesses that, with help, will become the next generation of retail stars. As a national retailer, it is important and makes good business sense for us to support these retail businesses. If we don’t, the opportunities to bring new, compelling products to our stores will diminish,” said Orlando Veras, a Macy’s spokesman.
According to a Macy’s press release, the new initiative will begin with a specially designed business development curriculum that will include classes on strategic planning; merchandising and assortment planning; branding, sales and marketing; and access to capital. Participants will be given the opportunity to network with fellow aspiring vendors, gain access to industry experts, get one-on-one business coaching and learn from the instructors, some of whom are successful vendors who currently do business with Macy’s, like Lisa Price, the founder of Carol’s Daughter.
The competition to get the up-close-and-personal training is stiff. Approximately 20 business owners from an applicant pool of more than 900 are being hand-picked to participate in the workshop to be held in New York.
The inaugural class will be selected based on their operational potential and the kind of goods they offer. “We are looking for unique merchandise that will appeal to our broad consumer base both nationally and regionally. As a department store we are seeking interesting apparel, jewelry, accessories, beauty and home products that we can introduce into our stores that will speak to a variety of lifestyles,” Veras said.
Graduates of The Workshop program are better informed and positioned to do business with Macy’s but there are still no total assurances. “The Workshop is meant to serve as a pipeline for future successful retail vendors that will help us continue to deliver unique items. Participation does not guarantee a vendor relationship or ongoing opportunities with Macy's,” Veras said. “However, we are always looking for compelling products by a variety of retail sources. If at program's end we feel that a graduate is ready to enter our vendor community, we will take those steps. This is the eventual goal.”
Veras said The Workshop is slated to be held once annually with potential for two classes per year in the future. “At the moment we are focused on producing the inaugural program and hope to have more information [about subsequent opportunities] by the fall.”
Meanwhile, Veras says all retailers who wish to sell their products at Macy's can contact the corporate buying team for consideration at any time.