CEO of Bloomingdale's Addresses FIDM Students

A select group of FIDM students were invited to Bloomingdale's November 12 to hear Chairman and CEO Michael Gould speak about opportunity and the future of retail.

"These are daunting times, but I think your opportunities are enormous. There's always a place for people who are passionate, motivated, and committed, let alone creative."

He advised the students that when they graduate and start to look for work, they should go to a company that's going to continue their education. "Because if any of you think your education stops when FIDM gives you a diploma next May or June, I think you're in trouble. Education doesn't stop. Pick those places [to work] where you're going to continue to grow. As difficult as business has been the last year, Bloomingdale's didn't cut any educational programs." He said you should ask yourself how you're learning every day.

Mr. Gould told the group that earlier in the week students from five different colleges were at Bloomingdale's for their second round of interviews. "I would tell you the same thing I told the folks that came to Bloomingdale's on Tuesday; the same thing I would tell my kids. You really want to select a company that has the same values that you do, the same core values of life." He said you should listen to the people with whom you interview to find out what kind of company it is and the quality of the people who work there. "Talk to enough people and ask enough questions. There are no dumb questions in life." He joked, "Sometimes there are inappropriate answers."

There are three articles Mr. Gould said he always gives to new associates to read: 1) John Gardner's "Self Renewal," 2) a 5-page article on parables that he cut out from the Harvard Business Review twenty years ago, and 3) a one-pager on leadership. He said he's going to send them to FIDM for the students to read.

As far as the future of retail and the economy in general, Mr. Gould said, "I think there is a continuing betterment in business." But, he said, "I don't think we're going back to where we were. People are looking at being more selective."

"I think the retail world is changing. I think the way we did business in the past is not going to work. It can't be about just doing one-sheet transactions. Where's the relationship?" He said most people in life want a relationship. "We have to understand who is the customer. How are we touching them on a more regular basis than we're doing?"

He also said e-commerce will play a more increasing role but will not wipe out the "brick and mortar" business.

One of the most inspiring things Mr. Gould said was in reference to his own life: "I've never had a job. I've always had a passion. The fact of the matter is I have the same passion about business that I had when I started in 1968. And I think that's what it's about. If you can't get up in the morning and be excited about what you're doing then you better figure out something else. So, what's your passion? Stop and think about it."

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The Century City Bloomingdale's offers internships to FIDM students in Merchandise Management, Visuals, and Public Relations. FIDM Alumnus Scott Rutledge (pictured below) is the Group Manager of Ready-to-Wear for the Century City Bloomingdale's and one of the in-store mentors in merchandising. He popped in at the end of the event to introduce himself to the students. "You can call me or email me. I love that I graduated from FIDM. I got involved with Career Connections. I love spending time and talking with people. I get so much out of it."

 

Mr. Gould spoke a lot about opportunity that day. Speaking of which, what a fabulous opportunity for these FIDM students to have the chance to hear and ask questions of Mr. Gould, one of the most influential people in fashion retail.