Macy’s Announces Its First Business Development Program

 

New York , NY : In an effort to help bolster up-and-coming enterprises, Macy’s has announced the creation of a one-of-a-kind program covering the business of fashion - The Workshop at Macy’s. Setting the stage for retail business innovation, The Workshop at Macy’s aims to nurture and grow the next generation of minority and women-owned retail talent. The Workshop is the latest evolution of Macy’s long-standing commitment to vendor diversity and to providing customers with unique goods and services that meet their lifestyle.

The specially designed business development curriculum of “The Workshop” is aimed at minority and women-owned retail businesses that are poised to succeed on a larger scale, but need additional tools on business practices to move to the next level and sustain growth. The four-and-a-half-day intensive training course, to be held in May 2011 at Macy’s Herald Square offices in New York City, will be taught by Macy’s seasoned executives and industry experts, as well as key retail partners. With this annual program, Macy’s hopes to create a pipeline of viable vendors that will grow to become successful partners within Macy’s own vendor community.

“Of the many initiatives Macy’s, Inc. has pursued on behalf of our expanding diversity strategy, supplier diversity is an area of special importance,” said Terry J. Lundgren, chairman, president and chief executive officer of Macy’s, Inc. “The Workshop at Macy’s is the latest example of our continued commitment to support and grow certified minority or women-owned retail vendors that will allow us to enhance our business, while also providing our customers with compelling product. As partners, it’s a true win-win for both the vendor and our company. Macy’s finds and nurtures talented new vendors who can deliver high quality, competitively priced merchandise and these vendors, in turn, see their business grow.”

The Workshop at Macy’s will allow selected participants to collaborate with fellow aspiring vendors, gain access to industry experts and solicit one-on-one business coaching. The course work includes classes on Strategic Planning, Merchandising and Assortment Planning, Branding, Sales and Marketing, and Access to Capital. The curriculum was designed by a consortium of experts from Macy’s Learning & Development, Macy’s Multicultural Merchandising and Vendor Development, Babson College, the nation’s leading business school for entrepreneurship, and with select Macy’s merchants/vendors.

For more information on The Workshop at Macy’s, please visit www.macysinc.com/workshop.

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Editor: Akhtar M. Faruqui
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