University of Rhode Island  
Textiles, Fashion Merchandising and Design

TMD 402M Seminar: Fashion for All Ages

Textile Advisory Board Chair Glenn Palmer with Claire Lacoste Kapstein and Linda Welters

Glenn Palmer

by Elsbeth Dijxhoorn

                       Glenn Palmer, CEO of Black Bear Capital Management, URI alumnus, and TMD textile advisory board member spoke about finding new opportunities in the retail market.   With over three decades in  retail and more recently in the retail/wholesale acquisition business, Mr. Palmer can speak about the subject with authority.  It is his assertion that it is imperative for a company to carry a vision for the future.  Leadership should not only be adept at selling products, but carry a vision for the company's future as well.  Complacency and holding onto past successes will ultimately lead to a company's demise, especially in the fashion retail market where change drives the industry.  To make his point, Mr. Palmer juxtaposed two retail chains. One on a downward slope, and the other moving in the positive direction.  Unfortunately, the specifics on what exactly makes a company "visionary" were not clarified.

He quoted a recent Women's Wear Daily article that  points out a new development for retail success. Small agile, quick responding specialty stores have an edge over the slower responding big stores.  Customer needs can be fulfilled quicker and with more precision.  This statement segued into Mr. Palmer's newly identified target market.  He has realized that a large segment of the women's wear market is curiously absent.  A group whose demands have not been heard and whose needs are not yet met.  Hispanic women, with their unique style demands and willingness to spend money on fashion clothes have few choices here in the US.  He has figured out that this segment of our population has a huge amount of  buying power, yet untapped.    His present business endeavor seizes this business opportunity.  He plans to introduce an existing and successful Columbian clothing store chain into the US market.  The idea is to roll the Columbian chain into an underperforming US retail chain.  Starting small with just two stores, he envisions clusters of stores to follow in the New England area.  The marketing campaign is specifically tailored to his target market and an advertising campaign will be broadcasted via the  few authentic Hispanic media outlets. 

Mr. Palmer's stressed that to be successful, a  business leader has to be quick responding to changes and knowledgeable about his/her customer base.  He emphasized that we not get discouraged  or  intimidated by failure as risk taking is part of the retail business.

Hearing Mr. Palmer's business plan made me realize how well the TMD retailing classes prepare students for the real world.  His   plan of action, starting with the identification of an unmet need and subsequent solution, follow the familiar path taught here at URI.  If he can follow the steps and create a sound business venture then possibly we can too.