Life on the Ramona Coaster (7 page)

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Fashion Forward

I
HAVE ALWAYS BEEN
very
goal-oriented. At ten years old I didn’t necessarily know what I wanted to be when I grew up, but I knew that I needed to get straight As. I loved math and analyzing numbers. By the age of fifteen I knew I wanted to combine business with fashion. Initially, I considered getting my bachelor’s degree in business, but after I spent the summer in New York City as an assistant buyer, I knew fashion was the only road for me. The Fashion Institute of Technology had just opened its first four-year program. It was a very exclusive honors program. Three months before the start of its inaugural semester, I went to see the dean and convinced him to admit me. Sometimes, in life and in business, you just have to go for it.

I have always taken professional risks, always thought three steps ahead when it comes to my career. Even before I got into FIT, I had a plan for my future.
One step ahead
: I wanted to study business and fashion.
Two steps ahead
: I wanted to get into a buying training program.
Three steps ahead
: I wanted to become a buyer for a top department store. So I called the person who hired part-time executive help for Macy’s. Because I had the courage to go for it, I got a job as a part-time sales manager, which paved the way for me to get into a top buying program and, ultimately, to becoming a buyer for Macy’s. I started out as a sales girl on the floor and worked my way up to Acting Sales Manager. I wound up taking twenty-one credits and working a thirty-five-hour week, but it was worth it because I was on my way to realizing my dream of working in fashion.

Me, age 27, ca. 1983

In my twenties I was full of energy and ambition and I was determined to make my mark in fashion as a businesswoman. In the 80s I worked for Calvin Klein, when Brooke Shields was doing the now legendary advertising campaign for the newly launched CK Calvin Klein Jeans label, and from there I went to French Connection. I wanted to get out of the junior market and into missy, which was adult sizes, so I started working for Flora Kung, a fashion designer who was known for her vibrant silk dresses and free-hand prints. I was managing a new division for her and traveling all over the country, opening accounts with upscale department stores like Neiman Marcus, Bergdorfs, and Marshall Field’s. From there I went to work for a company called Cygne Designs that did private production for stores like The Limited, Express, Anne Taylor, and Talbots. The founder, Irving Benson, was married to a woman by the name of Diane B, who had a beautiful high-end collection. She had her own boutiques, but she also sold to specialty stores and department stores and I was brought on as a sales manager for her line. Right away, I was booking as much as the two girls that were already working there, so I was bringing in fifty percent of the business. I was good at sales because I loved working in fashion and I was very aggressive.

Eventually, Mast Holdings, a subsidiary of The Limited, came in and acquired eighty percent of Cygne Designs. I was told they would keep me on to run the fashion line, but just before the company went public Mast decided to shut down Diane B. My boss came to me and said, “We want to keep you on. We’re just waiting to get some refinancing for the Diane B line. In the meantime, we have excess inventory that we need to get rid of. Do you think you can help us out?” Now, this was something I had not done before. I had been selling high-end fashions to department stores and they were asking me to liquidate millions of units of overstock—quickly. But I approached the challenge like any other in my life; I embraced it with a positive attitude.

In the end, I exceeded everyone’s expectations, even my own. I sold millions of dollars worth of inventory in just a couple of weeks. My bosses were shocked, but for me it was simple. I understood that everything in business is about playing the game and getting the order. If I had a pant or a top that I knew I only needed to sell for eight dollars a unit, I would ask for ten.
Rule #1: Always start high.
If they offered me seven dollars, I would say, “Okay, I can take your order for seven dollars. I’ll hold it to the side, but I can’t promise you’ll get shipped. If get a better offer, I’ll have to take it . . . but if we write the order up right now for eight dollars, I will guarantee that you will get shipped.” It almost always worked and I would end up writing the order for eight dollars.
Rule #2: Know what you’re selling and stick to your guns.

After six months, Cygne couldn’t find financing for the Diane B line so the firm closed it down and I was laid off. Meanwhile, I had been dating a doctor for a few years. We were engaged to be married, but he had commitment issues and I could never get him to set the date. I had tried to break up with him several times, but he always found a way to reel me back in. Then one day I realized that I always knew I would never end up marrying him. Subconsciously, I had intentionally picked the wrong guy. Yes, on paper, he looked good. He was a doctor. He was successful, funny, handsome, and smart, but he was emotionally distant—like my father. Finally, I realized that I was better off without him.

I remember, one day I decided I’d had enough and I just packed up all my things. I hadn’t officially moved in with him, but I hardly ever stayed at my own place anymore. I had kept my own apartment because somehow I must have known not to give it up. I couldn’t stand my roommate at the time, but now I was relieved I hadn’t moved out. I hired some guys from the Food Emporium down the block to help me with my boxes, borrowed my ex’s Jaguar from his garage, loaded it up with my stuff, and drove it to my old apartment. When he got home that night, there was no trace that I was ever there, not even a Tampax or a jar of nail polish. Nothing.

They say the three things in life you need the most are love, home, and career. I was moving back in with a roommate I couldn’t stand—
strike one
. I had just left the man I thought I was going to marry—
strike two
. And I had been laid off from my job—
strike three!
Suddenly, everything I had been working for seemed to be falling apart, but I made a very conscious decision that I would not stop believing in myself. I’ve always been very frugal, I have always saved my money, and I never ever spend over my means. But I decided to do something very frivolous. I took the $5,000 severance I got from Cygne and bought myself the most magnificent Golden Isle fox fur coat that I had ever seen. It complemented my long blonde hair perfectly and I felt so fabulous and glamorous in it. I had worked hard my entire life, supported myself through college, and watched every penny I made, but I made a very deliberate decision to use that money to take care of
me
, to make an investment in myself. So here I was, pushing thirty, no fiancé and no job, even my living situation was unstable . . . but I had a
fabulous
fur coat. I knew that I had to take back control of my life. I began looking for a new apartment, I resolved to start dating again, and started working to get my career back on track.

As fate would have it, on the day I moved back into my apartment the phone rang and it was Mario. We had gone out on one date a few years back, but we kept getting our wires crossed and never hooked up for a second date. I often saw him around the gym and we flirted shamelessly, but we were both involved with other people so it never went anywhere. Then, out of the blue, he called me up and said, “I want you to know, I just ended it with the girl I was dating and I was curious if you’re still in a relationship.”

I said, “Well, funny you should ask. You’re going to be the first to know that I just ended my engagement.”

“Great,” he said. “Let’s have dinner.”

“Didn’t you hear what I said? I just broke off the engagement with the man I was planning to marry. I don’t want to go out on a date.”

But Mario was persistent and charming, and I ended up agreeing to go out with him. I didn’t want it to feel too much like a date so I arranged to meet him at the restaurant. I remember walking in and spotting him sitting at the table. He stood up and when our eyes met, it was like thunderbolts. We had an instant, intense connection. It was unlike anything I had ever experienced before. We started dating, but after ten months I realized something was holding me back. I was terrified of marriage and I knew Mario wanted a wife and a family. I didn’t want to hurt him, so we broke up. It was painful. I remember both of us crying and him saying, “I love you and I know you love me.” I did love him, very much, but I knew I wasn’t being fair to him. I knew he wanted to marry me, but I just couldn’t turn the corner. I wasn’t ready. I was afraid to commit to marriage because it felt claustrophobic to me. I was afraid of getting close to someone because my mother had such a bad relationship with my father. Before Mario, I had chosen to be with men who were charming and good looking but who were emotionally distant and cold—like my father. I wanted to have to win their attention and affection, but it was safe because I knew I never would. I was afraid to really care about someone and be vulnerable. I realized I needed to work on myself before I could be in a healthy relationship. I started seeing a therapist three times a week and eventually she helped me to see that marriage is a partnership, not a prison. Once I learned that, I was able to take a leap of faith. After six months, Mario and I got back together again and within a few months we were engaged.

Meanwhile, the accountant from Cygne Designs had called me up and said, “Ramona, we still have excess inventory and I don’t have time to get rid it. Why don’t you buy it from us and resell it yourself?” They only wanted $100,000 for it and I knew I could sell it and easily make a twenty percent profit for myself. The only problem was coming up with the initial money to buy the stock. So I picked up the phone and started hustling. I got $25,000 in prepaid orders, but I still had another $75,000 I needed to come up with.

I knew this well-to-do businessman, who had been a mentor to me, and he offered to put up the remaining cash, but I would have to make him a partner and give him a percentage of the business. I decided to call up my father and ask for his advice. When I heard his voice on the other end of the phone, I could already hear the judgment in his voice, but I took a deep breath and dove right in, “Hi, Dad. I need to ask your advice. I’ve been selling closeouts for Cygne, but now I have a chance to do it on my own. It’s an amazing business opportunity for me. There’s no risk because I only take the order if I have the merchandise pre-sold and all the accounts I sell to have AAA credit ratings. I need to pre-pay for the merchandise and there’s a businessman who wants to partner with me. He’s offered to put up the cash I need and he—”

My father cut me off and I will never forget what he said next. “Ramona, in business you need no partners. How much do you need?”

“Seventy-five thousand.”

Without hesitation he said, “Okay, I’ll write the check and send it to you today.”

I almost peed in my pants. This is was a man who probably saved eighty cents of every dollar he ever made. He was a penny pincher. Every week, without fail, he gave my mother a hard time no matter how much—or how little—she spent on groceries. To my father, $75,000 was the equivalent of a million bucks, but he didn’t miss a beat when I told him how much I needed. My father, Mr. Miser, who didn’t like women, who didn’t believe I would ever amount to anything, was cutting me a check for seventy-five grand? I couldn’t believe it.

I paid him back in thirty days, plus interest. I was a little pissed off that he made me pay the interest, but I was still grateful that he lent me the money. After that, my mother would tell me how he would brag about his daughter to all his friends. He didn’t quite tell me to my face, but for the first time in my life I knew he was proud of me. It was a big moment in our relationship. As bad as he was all those years when I was growing up, for him to step up and help me like that was the last thing I ever expected from him. After that, our relationship didn’t exactly improve, but I actually willingly went home that Christmas. And that was huge for me. I hadn’t been home for Christmas in at least ten years.

That’s how I became a jobber and started my first business, RMS Fashions, Inc. I bought and sold excess inventory and I ended up making a lot of money doing it. When I started out I had no idea I would be in the business for the next twenty years. At first, I was just working out of a large handbag, but I quickly decided to get my own office and commit to a one-year lease for $12,000. I figured,
if I don’t make a penny this year, what’s the worst that can happen? I’ll be out twelve grand. Okay, I’ll take that risk
. I went out in the market not knowing who to buy from, but I’d look up manufacturers’ names and cold call. I’d walk into a showroom, find out who was in charge of selling excess inventory and introduce myself. Then I’d follow up and call them again. I was aggressive and ambitious. If I heard Express had canceled 50,000 units of a top, I would buy the lot from them and send it to my own warehouse. To eliminate risk, I’d always have preorders in place with stores like TJ Maxx, Marshalls, Ross Stores, and Burlington Coat Factory. I was always scanning for opportunities. If I read an article in
Women’s Wear
about some designer closing its dress division, I’d call the company and ask about its inventory. I’d usually walk out with a purchase order for 50,000 dresses that I, of course, had already presold to my buyers. My customers loved me and they knew that I always shipped a quality product, but tracking down inventory wasn’t always easy. My biggest challenge was that I was always having to reinvent myself because I couldn’t buy the same product from the same manufacturer all the time. They were selling to me at a loss and if they sold to me all the time they’d go out of business. So I was constantly on the hunt, like a squirrel looking for a nut.