Becoming a Buyer?

[softgrey]

just an fyi...
i happened to be talking to someone who is in the saks training program a day ago and according to him the training program is 9 months...

 

[Hanne]

Does Selfridges, Harvey Nic or Harrods have anything similar I wonder ?

 

[Meg]

9 months would make more sense....12 weeks seems awfully short.

They prob. do Hanne....I know Marks and Spencers and Matalan and a lot of the really big market holders of mid-range price offer training programs which are meant to be fantastic....

 

[softgrey]

the neiman marcus link above does say 12 weeks...
i just think it's different at every company...
there is no standard...

 

[Meg]

yes yes softgrey I know....I was just saying I think for really good training that 9 months is a better time period than three.

 

[iLoveCouture]

My sister was a buyer for Nordstrom, it took her about 4 years to get promoted to that position. She went to a lot of fashion shows, and NY/LA market to do her buying for the department she bought for. It is not all glamour and going to fashion shows from what I have seen. It does vary when it comes to who gets the job;some companies can send people through training in weeks/months and others only promote from within b/c the people know the company in and out. It just depends on the corporate structure.

 

[DP_woman]

yes yes softgrey I know....I was just saying I think for really good training that 9 months is a better time period than three.

Thats a moot point. It depends on the structure of the program. Its not like you go straight from the program into a buyer position. Like iLoveCouture just stated, it took her sister 4 years. Its a continuous process. For Neimans, you relocate to Dallas.....then you relocate again for the position of "assistant buyer". And from the sounds of it, you don't have much choice as to where you get placed. Its not a short process.

Not to mention, the job application process at Neimans and Saks is completely different as well.

 

[Meg]

it's going to take years regardless...I just think to get proper training on the basics....three months is hardly any time.

 

[leyla m.]

as a general rule, a buyer needs at least 2-3 seasons to get a good insight in how her buying is being perceived by the customers... what is selling , what is not, etc etc....
as meg said, in 3 months the collection one buyer has bought hasnt hit the store yet so its highly unlikely to get such short training...

 

[cantstp0wontstp]

Buyer?

how exactly does one become a buyer, for a chain like barney's or nordstrams or something? do you just fall into it or what, and does anyone have experience or insight about his career?

 

[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]

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...