Becoming a Buyer?

[TriniFashionPho]

I know for Barneys, they usually post a lot for the Assistant Buyer positions and the only requisite for this is usually a Bachelors degree sometimes, or if you know the buyer themselves, they'll offer you the position. Asst. Buyer at Barneys is mostly an entry level position that is often times, just an administrative position. You don't travel to shows internationally, but if the work schedule permits, they'll allow you to attend domestic shows in NYC.

I know for a fact that their womens designer shoe buyer, started out as a sales associate and became good friends with the shoe buyer who then offered her the asst buyer position.

I recently got a call back from Lord and Taylor for their Executive Trainee program for being a Buyer so I'm hoping that goes well. If anyone has any feedback that'd be soo great!

[seeing_double]

What should you major in in college if you are interesting in doing this?

[Lena]

sounds like an interesting course ..for our usa members looking out for a retail career... and not only

The Jay H. Baker Retailing Initiative at The Wharton School of the University of Pennsylvania has developed a secondary concentration in retailing. The concentration requires four courses in retail, including required and elective subjects. Popular primary concentrations include finance, management, marketing and real estate, with secondary concentrations offered in entrepreneurship, global analysis, legal studies and business ethics, managing electronic commerce and now, retailing. The Jay H. Baker Retailing Initiative was established at Wharton in 2003, thanks to a gift of $10 million from Patty and Jay H. Baker, a member of the Wharton undergraduate class of 1956 and a former president of Kohl's Corp. The Initiative has a 40-member board of advisers, including retail chief executives Burt Tansky of Neiman Marcus Group, Terry Lundgren of Federated Department Stores and Lawrence Montgomery of Kohl's, as well as Roger Farah of Polo Ralph Lauren, Robert Kerson of Kerson Partners and Dan Schwarzwalder of Buckingham Capital. The retailing initiative involves getting retailers to recruit Wharton students, faculty research, curriculum development and cocurricular activities.

from wwd

[ulfee]

Does anyone know at what percent of retail price do the retailers typically buy the wholesale merchandise? Thanks

[annabel_lee]

40 -50% is the typical markup for clothes

[Lena]

in europe we add minimum +120% of the wholesale price if that was the question..

[Jeremiah]

As far as I know, the retail price at shops in Spain is 2'7 times the wholesale price...

Still, I should check this out

[Lena]

wouldnt it surprise me at all Jeremiah ...welcome to tFS

[alyssia]

i believe retail markup is closer to 220% in US.

Anyone have any info on how to start off as an assistant buyer? I'm having no luck switching careers

[Jeremiah]

Originally Posted by Lena

wouldnt it surprise me at all Jeremiah ...welcome to tFS

Thank you Lena

However, I don't think we have ever heard of a proper 12-month training course for a buyer post round here... Not that we have proper high end department stores either, so...

[missy316]

I am an aspiring designer whos about to graduate with a degree in economics. I am looking into becoming a buyer to get more experience before launching my line. Is this a good path to take??? With which companies would it be easier to become a buyer.

[smartarse]

I have friends who are buyers (seniors ) at Bergdorfs one thing that strikes me they are all good with math! They do their own 'book keeping', so to speak. I mean LOTS and LOTS of number crunching! Sometimes they go O.T. and don't leave till way passed 10pm to get the numbers in. They're workaholics! You'd think they work on Wall ST! Yup, that's the otherside of being a buyer... it's not all Glitz and Glams, hobnobbing with the rich and the fabulous or rich and the famous...and jetting to and fro across the ocean. Than you have the assistant buyers who don't get paid that much.

...something to really think about and not jump into it blindfold.

[boocheridoo]

I recently got a call back from Lord and Taylor for their Executive Trainee program for being a Buyer so I'm hoping that goes well. If anyone has any feedback that'd be soo great!

congrats! i applied there, but never heard anything. I'm afraid that living in Pennsylvania is hurting my chances of even having a company in new york look at my resume, even though I think I would be good at it/enjoy it.

Does anyone know when the NYC stores tend to start their trainee programs? I'm thinking February and July, but I could be way off.

[DP_woman]

Wow, the L&T program is only 10 weeks!!! Thats even shorter than Neimans 12-week program. Hmm, I think I'll apply for that one as well. Im going back to school to get more training before I apply to Neimans program.


Here is what it says about the Lord & Taylor executive trainee program:

B.S./B.A. from an accredited four-year college or university.All majors considered. Strong interest and ability in financial analysis required.Cumulative G.P.A. of 3.0 on a 4.0 system. The demands and competitiveness of the business dictates that we hire smart people.Leadership and work experience. What you do and how you do it are important in our evaluation. Previous retail experience is not required.Legally authorized to work in the United States.

LordandTaylor.com

[smartarse]

^ ^ yup... that's exactly what I said in my previous post. My friends who are buyers went to top schools , U Penn's Wharton School for one, and they ALL are good with numbers, total Wall Street-like financiers. So, Lord & Taylor's qualifications are competitive, what more with retailers like Bergdorf's Bloomies, Saks, Barney's , Neimans etc.