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New York Wharton Alumni Re-Invent Retail

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New York Wharton Alumni Re-Invent Retail SPRING 2014 SPRING 2014 ISSUE Letter from the President � � � � � � � � � � � � � � 2 Leads Council Relaunch � � � � � � � � � � � � � � � 3 INTERVIEWS – RETAIL ICONS Jay Baker, W’56 � � � � � � � � � � � � � � � � � � � � � � 4 Neil Blumenthal, WG’10 � � � � � � � � � � � � � � 8 New York Dave Gilboa, WG’10, GEN’10 � � � � � � � � � � 8 Brendan Hoffman, C’90, WG’97 � � � � � � � 12 Wharton Alumni Roger Farah, W’75 � � � � � � � � � � � � � � � � � � � 15 James S� Cohen, W’80 � � � � � � � � � � � � � � � � 18 CLUB: Re-Invent Retail Helping Nonprofits Excel in New York � � � 7 University Relations � � � � � � � � � � � � � � � � � � 14 Wharton Career Services in NY � � � � � � � � 22 – Again! Take the Call! � � � � � � � � � � � � � � � � � � � � � � � 23 Join WCNY � � � � � � � � � � � � � � � � � � � � � � � � � 23 Letter from Executive the President Committee pring in New York is always welcome! So are shoppers, who power up to 70% President Kenneth Beck, WG’87, P’16 Sof the economy. How could they not? CEO Connection Retailers make the experience so inviting, exciting and convenient! [email protected] They provide the right selection, merchandised perfectly, priced appropriately. Retail is an art and for decades, brand name retailers Executive Vice President have been built, managed, researched, developed, scaled — led by George Bradt, WG’85 PrimeGenesis Executive Onboarding New York Wharton alumni. Jay Baker, W’56, from a small shop in [email protected] Flushing, developed the nation’s number two department store, and created a retail center at Wharton. Neil Blumenthal, WG’10 and Dave Vice President, Finance Gilboa, WG’10, GEN’10, worked after classes each day at Wharton to Rosemarie Bonelli, WG’99 found the hottest retail concept in New York, Warby Parker. Brendan American International Group, Inc. [email protected] Hoffman, C’90, WG’97, third generation Wharton alum, led the ‘His and Her’ catalog at Nieman Marcus, and Lord & Taylor, before taking Vice President, Marketing & on the Bon-Ton Stores. Roger Farah, W’75, a retailer’s retailer, after Communications leading at Saks Fifth Avenue, Footlocker, and Macy’s, turned around Peter Hildick-Smith, C’76, WG’81, P’13 and grew Ralph Lauren calmly and remarkably to new heights. James Codex-Group LLC [email protected] Cohen, W’80, joined his father right out of school, to develop six hundred Hudson News stores, at train stations and airports, first in General Counsel and Chief Legal Officer New York and then nationwide. The world comes to New York to shop Steven E. Sherman, W’72 for good reason! Shearman & Sterling LLP [email protected] These six alumni were all helped by mentors, family, and fellow Wharton alumni. WCNY is here to lend you a hand through four Vice President, Career Development initiatives: Our new Leads Councils focus on bringing alumni together Charles S. Forgang, W’78, P’11 Law Offices of Charles S. Forgang to network and bring each other business. Meet our Leads Council [email protected] coordinator, Melissa Amaya, W’03. Udayan Chattopadhyay, WG’01, tells what you can do to help him bring club and University closer Vice President, Business Development together. Two ample resources already here in Manhattan are Wharton Regina Jaslow, W’97 Career Services and Lifelong Learning. Learn here how their valuable Penn Club of New York [email protected] and timely services can work for you! Then you can “Take the Call” and help your fellow alumni. Vice President, Volunteer Services Diana Davenport, WG’87 Kenneth Beck, WG’87 The Commonwealth Fund Chief Executive Officer, CEO Connection [email protected] President, Wharton Club of New York Vice President, Programming T 646.416.6991 | F 646.292.5129 Jennifer Gregoriou, W’78 [email protected] | www.ceoconnection.com Jennifer Gregoriou, Management Consulting [email protected] Vice President, University Relations Udayan Chattopadhyay, WG01 Ergo Wharton Club of New York – Magazine [email protected] Editor For inquiries regarding sponsorship, Kent Trabing, WG’01 please contact: [email protected] Kay Trongwongsa WG’ 12 • • • Candace Whye W’11 The Wharton Business School Club Melanie Zhao W’13 of New York [email protected] th 75 Rockefeller Plaza, 18 Floor Rates for quarter page ad start as low as $544! New York, NY, 10019 Phone : (212) 463-5559 Club website: www.WhartonNY.com FRONT COVER: Neil Blumenthal, WG’10 and Dave Gilboa, WG’10, GEN’10 — Founders and co-CEOs of Warby Parker 2 | WHARTON CLUB OF NEW YORK | WWW.WHARTONNY.COM | SPRING 2014 WCNY Leads Councils – Relaunch! Alumni Helping Alumni Get Leads! CNY’S Leads Councils have been a major Who benefits from joining Leads Councils? source of business growth and success for Those striving to develop new business or seek new WNew York region alumni for over 10 years, clients — whether as an entrepreneur or within a major including the sale of a business and winning a $100,000 corporation. contract. Now WCNY is relaunching the Leads Councils, giving them a boost by hiring a Wharton alum, Melissa Can any Wharton alum join a Leads Council? Amaya, W’03, as the Leads Council Coordinator. Leads Council members must be a supporting-level member of WCNY at the Silver Level ($500 annual dues) Melissa answered questions for potential Leads Council or above. Members will be placed in councils based members. on their industry to ensure that each council remains noncompetitive. Once members are in a council, they What is the purpose of the Leads Councils? must commit to the group to hold their exclusive spots. To network with fellow alumni who are both successful Commitment is demonstrated by regular attendance and enough and serious enough to commit to a council as a actively participating by way of providing introductions Silver* supporting member of the Wharton Club of NY. and passing along leads. At the fraction of the cost compared to commercial lead generating organizations like LeTip and BNI, our Wharton Which industries are the Leads Councils looking for? Leads Councils connect you with the best of the best so There are openings for occupations in real estate you can grow your business. brokering, accounting, banking, IT consulting, management consulting, advertising, marketing and Where do they currently meet? more! Councils currently meet the 1st and 3rd Tuesday of each month at 6pm on 41st Street between Madison and 5th How can Club members find out more information Avenue and the 2nd and 4th Thursday of each month about the Leads Councils? at 7pm near 40th and Lexington. We are starting a new Sign into the Club website at www.whartonny.com. Then group in Western Long Island. choose “Groups” in the top menu, and then choose “Leads Councils.” Inquiries can be directed to leads@ Can you describe your role? whartonny.com. I oversee the groups — and thus act as the point of contact for anyone interested in joining a Leads Council. There are 30,000 Wharton alumni in the New York area - I coordinate placing members in suitable Leads Councils how valuable is that network to you? — and find chairs for new councils. I also speak with and coach each new and current member to help them get as much out of the program as possible. READ ARTICLES ONLINE AT WWW.READWNY.COM | 3 3 Creating Smart Retailers! Jay Baker, W’56 Founder of the Jay H. Baker Retailing Center Former President and Director of Kohl’s ETAIL is a New York story, largely because retailers are Ra New York story. Jay Baker is part of the fabric of that story. His irrepressible good will, and sharp mind propelled him forward in his career as a leader in American retailing. He continues today working with hundreds of young people in New York City and Philadelphia, introducing them to his wonderful world of retail with insights, with his friends and always with a lighthearted laugh. How did you get started in retail? My mother had a hat store, Schissel’s Millinery, on Main Street Jay Baker, W’56 in Flushing, Queens. My job was to the firm. Saks is where I first metRoger Farah, W’75, greet people: “Thank you for shopping at Schissel’s,” not who was starting out in the men’s department. I then an easy to thing to say when you’re just a kid. became a General Merchandise Manager at Saks, and then was later asked to join the parent company Batus What was your path from Wharton to Kohl’s? (formerly British American Tobacco), which also owned I was drafted into the Army for two years, right out of Marshall Field’s, Gimbels, Kohl’s, Famous-Barr and other Wharton, and then when I came out, I took an aptitude retail chains. Batus developed a new specialty store tests, and retailing kept coming up as something I had group, called Thimbles, which I took over. I kept that a real interest in. So I joined Macy’s Training Program, job, and then took over the corporate buying for all the and worked at Macy’s for 10 years. Then I went to work corporations, which in total did about $2 billion in annual for Ohrbach’s department store in Manhattan, where sales at the time. I became assistant to Robert Suslow, the President In 1986, Batus was dissolved, and I had a chance to at Ohrbach’s. Bob became my mentor, which was become a partner with Bill Kellogg and John Herma. incredibly helpful for my career. When Bob became We bought Kohl’s in a leveraged buyout with financial Chairman at Famous-Barr owned by May Company (now partners — including the Simons, the mall developers, part of Macy’s), I went with him as General Merchandise who were terrific partners. And then, we really built Manager. When Bob became head of Saks Fifth Avenue, Kohl’s! I was asked to be Director of Stores, a new position for 4 | WHARTON CLUB OF NEW YORK | WWW.WHARTONNY.COM | SPRING 2014 Many midmarket department store chains no longer exist, or Jay Baker, W’56 Baker, Jay made serious missteps.
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