Minority Retail Entreprenuers: Your Time Is Now!

There is a HUGE avalanche of business underway for minority business supplying the retail industry.  Retailers have finally decided that minorities comprise a goodly percentage of their business and -- lo and behold -- they don't necessarily want what other customers wants.  (You know, the part that is astounding about this post is that this is news.)

Macy's is leading the way by actually holding workshops for small designers and manufacturers who can cater to specific markets.  Each store in the Macy conglomerate will be marketed individually, pulling product from specialized minority vendors. 
For years retailers have been establishing "shops" within large stores, and this is simply a natural progression of that sales approach.


Macy's is starting small, awarding only four orders in its first round:  two makers of cosmetics targeted at African American and multi-ethnic women, a dress designer targeting Hispanic women, and a designer who specializes in plus size swimsuits.  More will be awarded later.

As a designer/manufacturer of minority products, what do you do now?  Well, let's assume that where Macy's goes, so goes the retail industry, which is usually true.

First, get your business plan in order, like the Clothing Store Business Plan.  You may not need it, but the process of preparing it will put you in good form for talking with corporate people.  In your business plan you won't be looking for financing, but for a retailer who will carry your goods.  Be sure to

• Provide stats on the demographic composition of that retailer's market area, and match it to your offerings, both in type of product and price point.
• Include lots of pictures of your products.
• Be honest about your financial situation.  The retailer may or may not be able to help, but don't let them place an order and then be disappointed because you couldn't get financing.
• Really promote the strength of your key people.

Then contact retailers and see what you can do.

For Macy's contact Macy's Divisional Merchandise Manager Shawn Outler.  For others, start at the local level and ask them who you should contact;  the store manager is usually a good starting point.  Or call the corporate offices directly and ask who handles buying for the minority market.

If you keep hitting dead ends, go around them.  Go into the store and locate a non-competing product from a small supplier.  Call that supplier and ask who they dealt with.  If that supplier is close enough, take her to lunch and you will likely get a passel of information.

Go for it.  This is your time, minority entrepreneur!