The Exchanges

Q How were you able to finance the stores and the production just through existing sales?

A Yes and no. Uh, we found, we were able to get a line of credit of our fabric manufacturers, because we, we bought fabric in bulk, even though we were small, because we, I was very dedicated to a certain fabric, so, you know, I built around one fabric, and then I, I had, my brother-in-law came and was helping me, and he got me a small line of credit, 50,000 dollar line of credit. Then I got a new accountant who, you know, helped me tap into the banks, and how you had to put business plans together, and So it was a combination of credit lines and loans and, you know, self-funding because it was growing and it was profitable. It was always profitable.

AI assessment note: “So it was a combination of credit lines and loans and, you know, self-funding”

Q Did your parents ever see this level of success? I mean...

A Yeah, my mother did. My father was utterly, totally impressed by 200,000 dollars you didn't need to see anymore. But my mother did. I don't know that she understood it quite. You know, my sisters work in the store out in the Midwest, and so she'd go in there. She was so adorable. She would go in, and even as the company got really big, and she'd, she'd see damages. We'd have a section of damages that we would sell in the back of the store cheap, and she'd go to the back of the store and pick out those damages and say, I can fix this. She'd take them, take them home and fix pieces, and you could sell this as good as a first, first, put it on the main rack. But I think to her, you know, you know, it could have been 200,000, it would have been just fine, it didn't need to be this big, nobody, you know, that didn't, didn't mean so much to her, you know.

AI assessment note: “Yeah, my mother did. My father was utterly, totally impressed by 200,000 dollars”

Q So you opened this, this store on Madison Avenue in, in 1991. And, uh, how did it do?

A Really well. Again, similar experience to that, um, boutique show where, you know, people just stood in line and bought clothes and stacks of clothes, and they were so delighted to find the store. And, um, I remember that's when, uh, I think it was a buyer, somebody from Bloomingdale's came in, because they'd been looking at the line and curious, and they, um, would say things like, um, you know, you know, great clothes, but, you know, they're just going to get lost at Bloomingdale's. And, um, they're too simple. I was like, same thing, too simple, too simple, you know. Um, but I knew that was the idea, so I had to hold that piece. Anyway, um, so when they came into the store, they knew, they didn't understand it, but they knew something was happening, and so they wanted to open a shop, a small shop in Bloomingdale's.

AI assessment note: “Really well. Again, similar experience to that, um, boutique show”

Q From there, were you, I mean, was the growth just off the charts? Were you just, was that what was happening?

A Yeah. You know, it was, um, kind of strong and steady, you know, it was, um, not exactly off the charts, but it was exciting, and sometimes it felt like, you know, like horses in a carriage, like kind of out of control a little bit, you know, like it was pulling me somehow. Um, and, you know, mostly it wasn't too out of control, it was, you know, it was mostly organic. There was never, like, an attempt to make it ever bigger than it was. It was more like, okay, It's working, so let's open two more stores, or it's working, so let's open four more stores, you know, or, um, now, you know, you know, other department stores want to buy the line, you know, um, Saks and Nordstrom's and, you know, that kind of thing.

AI assessment note: “kind of strong and steady, you know, it was, um, not exactly off the charts”

Q How were you able to finance the stores and the production just through existing sales?

A Yes and no. Uh, we found, we were able to get a line of credit of our fabric manufacturers, because we, we bought fabric in bulk, even though we were small, because we, I was very dedicated to a certain fabric, so, you know, I built around one fabric, and then I, I had, my brother-in-law came and was helping me, and he got me a small line of credit, 50,000 dollar line of credit. Then I got a new accountant who, you know, helped me tap into the banks, and how you had to put business plans together, and So it was a combination of credit lines and loans and, you know, self-funding because it was growing and it was profitable. It was always profitable.

AI assessment note: “So it was a combination of credit lines and loans and, you know, self-funding”

Q was a, um, an incredibly just active time for Eileen Fisher, and, and would continue, and also personally, I mean, you were, you'd been married, you had two children in a, in a four-year period of time, two young kids, you were trying to run this company, and your marriage was kind of falling apart, too. How did you How did you manage the personal and the, and the professional?

A Um, I would say that was the hardest, hardest ever, and if I look back, man, if I could do anything differently, that'd be, now I'm not, not going into regret, but that was incredibly hard. Um, God, I think about all the women out there trying to start businesses and work in the business world, and just how hard it is to manage families, I just, oh. So, I really had to rely on the people that In the company. I tried to, again, you know, sort of lead loosely and just, but I struggled a lot with being in two different places and wanting to be at work when I was at home or worrying about work, you know, and reading reports and trying to understand is this working or not, and what's working and what's going wrong, and, and at the same time worrying about my kids when I was at work and just, you know, I guess the, the thing I say to myself now is that, um, if I look back, I would I would have just worked harder on being where I was, just doing what I was doing in the moment, and stop trying to be two places, just, and stop taking the work home, and just do the best you can.

AI assessment note: “I really had to rely on the people that In the company.”

Q You were trying to be the best mom you could be, and, and also run the company, and you, I must, I mean, it, it, it, it kind of sounds a little bit like what your mom went through, where she was kind of overwhelmed, right? I mean, she was, It was relentless. Every day was this hamster wheel.

A Yeah, ah, I did the best I could. I, I had to let go a lot, I had to trust a lot of people, um, which, which worked and didn't, you know, it worked in places, and then there were moments that I felt, you know, sad about how I let go too much over here, when, you know, I'd go into a store and see pieces I didn't recognize, or feel like the line didn't look right, or I couldn't find the clothes I wanted to wear, or it wasn't really The concept. It was gone. Where was the soul of this company? And, you know, what happened? And, you know, um, once I got divorced, it was, my kids were four and eight, and I said, I am, I'm going to stop working on Wednesday, Thursday, Friday at three o'clock. I worked in my home a lot, and I would, you know, let the people keep working, and I'd close the door and go and, you know, and be with my kids. And, you You know, my husband would have the kids on Mondays and Tuesdays, and we shared the weekends and things like that. Um, so it actually worked better for me. I don't think it worked so well for them. They didn't really like the going back and forth stuff, and, and I guess kids never liked divorce.

AI assessment note: “I did the best I could. I, I had to let go a lot”

Q You were trying to be the best mom you could be, and, and also run the company, and you, I must, I mean, it, it, it, it kind of sounds a little bit like what your mom went through, where she was kind of overwhelmed, right? I mean, she was, It was relentless. Every day was this hamster wheel.

A Yeah, uh, I did the best I could. I, I had to let go a lot. I had to trust a lot of people, um, which, which worked and didn't, you know. It worked in places, and then there were moments that I felt, you know, sad about how I'd let go too much over here when, you know, I'd go into a store and see pieces I didn't recognize or feel like the line didn't look right, or I couldn't find the clothes I wanted to wear, or it wasn't really The concept. It was gone. Where was the soul of this company? And, you know, what happened? And, you know, um, once I got divorced, it was, my kids were four and eight, and I said, I am, I'm gonna stop working on Wednesday, Thursday, Friday at three o'clock. I worked in my home a lot, and I would, you know, let the people keep working, and I'd close the door and go and, you know, and be with my kids. And, you know, my husband would have the kids on Mondays and Tuesdays, and we shared the weekends and things like that. Um, so it actually worked better for me. I don't think it worked so well for them. They didn't really like the going back and forth stuff, and, and I guess kids never liked divorce. Yeah. Um, but I think that, you know, over time I sorted it out, and things got better. I got, I got stronger. I, I started Doing things like yoga and meditating. I had some time to myself, which my mother never had, you know.

AI assessment note: “I had some time to myself, which my mother never had, you know.”

Q So you opened this, this store on Madison Avenue in, in 1991. And, uh, how did it do?

A Really well. Again, similar experience to that, um, boutique show where, you know, people just stood in line and bought clothes and stacks of clothes, and they were so delighted to find the store, and, um, I remember that's when, uh, I think it was a buyer, somebody from Bloomingdale's came in, because they'd been looking at the line and curious, and they, um, would say things like, um, you know, you know, great clothes, but, you know, they're just gonna get lost at Bloomingdale's, and, um, they're too simple. It was that same thing, too simple, too simple, you know. Um, but I knew that was the idea, so I had to hold that piece. Anyway, um, so when they came into the store, they knew, they didn't understand it, but they knew something was happening. And so they wanted to open a shop, a small shop in Bloomingdale's.

AI assessment note: “Really well. Again, similar experience to that, um, boutique show”

Q From there, were you, I mean, was the growth just off the charts? Were you just, was that what was happening?

A You know, it was, um, kind of strong and steady, you know. It was, um, not exactly off the charts, but it was exciting, and sometimes it felt like, you know, like horses in a carriage, like kind of out of control a little bit, you know, like it was pulling me somehow. Um, and, you know, mostly it wasn't too out of control. You know, it was mostly organic. There was never, like, an attempt to make it ever bigger than it was. It was more like, okay, you It's working, so let's open two more stores, or it's working, so let's open four more stores, you know, or, um, now, you know, you know, other department stores want to buy the line, you know, um, Saks and Nordstrom's and, you know, that kind of thing.

AI assessment note: “It was, um, not exactly off the charts, but it was exciting”

Q Did your parents ever see this level of success? I mean,

A Yeah, my mother did. My father was utterly, totally impressed by 200,000 dollars each see anymore. But my mother did. I don't know that she understood it quite. You know, my sisters work in the store out in the Midwest, and so she'd go in there. She was so adorable. She would go in, and even as the company got really big, and she'd, she'd see damages. We'd have a section of damages that we'd sell in the back of the store. She'd, And she'd go to the back of the store and pick out those damages and say, I can fix this. She'd take them, take them home and fix pieces, and you could sell this as good as a first verse. Put it on the main rack. But I think to her, you know, you know, it could have been 200,000. It would have been just fine. It didn't need to be this big. Nobody, you know, that didn't, didn't mean so much to her, you know.

AI assessment note: “Yeah, my mother did. My father was utterly, totally impressed by 200,000 dollars”

Q was a, um, an incredibly just active time for Eileen Fisher, and, and would continue, and also personally, I mean, you were, you'd been married, you had two children in a, in a four-year period of time, two young kids, you were trying to run this company, and your marriage was kind of falling apart, too. How did you How did you manage the personal and the, and the professional?

A Um, I would say that was the hardest, hardest ever, and if I look back, man, if I could do anything differently, that'd be, now I'm not, not going into regret, but that was incredibly hard. Um, God, I think about all the women out there trying to start businesses and work in the business world, and just how hard it is to manage families, I just, ugh. So, I really had to rely on the people In the company. I tried to, again, you know, sort of lead loosely, and just, but I struggled a lot with being in two different places, and wanting to be at work when I was at home, or worrying about work, you know, and reading reports, and trying to understand, is this working or not, and what's working, and what's going wrong, and, and at the same time, worrying about my kids when I was at work, and just, you know, I guess the, the thing I say to myself now is that, um, if I look back, I would I would have just worked harder, and being where I was, and just doing what I was doing in the moment, and stop trying to be two places, just, and stop taking the work home, and just do the best you can.

AI assessment note: “I really had to rely on the people In the company.”