Embarking on a career in product development can be both exciting and rewarding, especially with a prestigious program like Macy’s Product Development Executive Development Program. As a key part of Macy’s Merchandising Group (MMG), this program is designed to groom future leaders in the field of product development, equipping them with the necessary skills and knowledge to thrive in the competitive retail industry.
The Role of Macy’s Merchandising Group (MMG)
Macy’s Merchandising Group (MMG) is responsible for the conceptualization, design, and sourcing of Macy’s exclusive private brands. Some of the well-known brands that fall under MMG’s purview include:
- Charter Club
- Club Room
- Thalia
- Material Girl
- Children’s Epic Threads
- Alfani
- Style & Co.
- Tools of the Trade
- American Rag
- Bar III
- Jenni
- Ideology
- Home Hotel Collection
- The Cellar
Program Overview
The Product Development Executive Development Program is headquartered in New York, NY, offering participants the opportunity to work in one of the fashion capitals of the world. This program is a comprehensive training ground, providing participants with hands-on experience in identifying emerging trends, conceptualizing branded styles, partnering with overseas offices, and negotiating pricing strategies with both global and domestic vendors.
Participants will also gain valuable insights into sales performance, consumer trends, and market needs, promoting the visibility and success of Macy’s private label goods.
Key Responsibilities
- Collaboration: Work with partners from merchandising, marketing, stores, fashion research and development, and color analysis.
- Market Analysis: Engage in competitive shopping to gain market awareness.
- Sourcing: Partner with MMG overseas offices on sourcing, development, garment fit, quality, sampling, sales, and price negotiation.
- Strategy Development: Contribute business and trend strategy ideas in Line Development meetings with the Design Team.
- Vendor Relations: Participate in tactical meetings with vendors and manufacturers to develop business-driving strategies.
- Supply Chain Management: Gain exposure to purchase order creation, order tracking, and collaboration with customs and Macy’s Logistics team.
- Sales Analysis: Create and analyze selling reports to develop strategic recommendations based on merchandise sales performance.
Training Program Highlights
The training program within the Product Development Executive Development Program is multi-faceted, providing both formal training classes and hands-on experiences. Key highlights include:
Product Development Lifecycle
Learn the fundamentals of the product development lifecycle through real-world examples. Experience the struggles, revisions, and successes of a Private Brands style in a learning environment.
Design and Technical Design Overview
Guide a style from the conceptual sketch stage to a tangible product sample. Navigate the dynamic collaboration between the product development and design teams.
Retail Math
Gain proficiency in retail math and how to analyze business and maximize profitability. This course is taught by a Professor from the Fashion Institute of Technology.
Sales Reporting
Build reports to analyze business and address fast and slow-moving merchandise. Focus on sales tracking to react to and anticipate business needs.
Trend and Color Research and Development
Gain insights into how style and color trends are forecasted and represented within Macy’s Private Brands. Work with in-house trend researchers and developers.
Participants will complete a collaborative group project, present their recommendations to key leaders, and receive performance feedback to further enhance their understanding and skills.
Requirements
To be eligible for the Product Development Executive Development Program, candidates should possess:
- A bachelor’s degree (all majors are welcome).
- A minimum 3.0 GPA.
- Proficiency in PCs and MS Office, with excellent Excel skills being critical.
- Strong analytical skills and attention to detail.
- Strong communication and presentation skills.
- The ability to prioritize multiple projects and achieve productivity and business goals.
- Experience in retail (sales, management, or buying exposure is a plus).
Career Path
The Product Development career path offers tracks in Product Management, Brand Management, and Retail Divisions, providing a well-rounded foundation for future career growth.
Contact Information: Interested in learning more or in need of professional sourcing and production support? Contact me at antor@antor.xyz or visit my website https://antor.xyz.
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