Hilfiger talks business at Baruch

Baruch College's Zicklin Graduate Leadership Speaker Series hosted one of the most famous designers in the world. Tommy Hilfiger, founder and principal designer of Tommy Hilfiger Group, spoke to students about his upbringing and his success in business on Wednesday, Dec. 2.

The event began with a video showcasing Hilfiger's latest designs and many celebrities commended his accomplishments and creations.

Hilfiger entered the stage with a charismatic walk and said that 40-years-ago at the age of 18, he opened his first store in his hometown in Elmira, New York.

His initial lifestyle resembles that of many Baruch students.

"I started working when I was nine-years-old. I started mowing lawns and doing whatever odd jobs I could in the neighborhood," said Hilfiger. "In Elmira, it is really cold in the winter … and I used to stand out in the cold pumping gas from 6 p.m. until midnight every night, seven days a week, while saving my money [and] dreaming about what I would do with it when I compiled enough to start a business."

Hilfiger then went on to start his own clothing business. He bought records to get inspiration from the album covers for his designs.

"I used to sit with my friends … looking at the pictures of the band and the musicians on the record albums wanting to look like those guys because they were very cool looking," Hilfiger said.

He started buying "cool" clothes in New York City and selling it in his hometown. After awhile, his number of stores grew to 10 in upstate New York college campuses.
Although he enrolled in college himself, Hilfiger lasted only about a month.

"I was sitting there in class thinking that I am learning more from my business than I am sitting in class trying to learn what they're teaching us about business."

Much of Hilfiger's success comes from his dedication to market research and his tendency to follow the consumer closely. After seeing that the "cool" people were wearing faded, beat-up jeans, he invented the stonewashed jeans and started a trend.

In 1975, Hilfiger was forced to file for Chapter 11 bankruptcy, given that his business was highly levered. The company overbought inventory, forcing him to gradually sell all of his stores.

"I didn't finish school and I didn't learn economics and I didn't learn enough business management so therefore I was behind the equal," said Hilfiger. "I think that having a college education is … very important … this was the learning experience of my life."
Since he did not learn the basics of supply and demand and business management, Hilfiger lost focus and was not able to turn his business around.

Luckily, he was able to start his own line again after designing for a number of firms.
His business partner defined his clothesline as "classics with a twist," and said he could make him famous overnight with an interesting advertisement.

"It said, the four great American designers for men are R – L [Ralph Lauren], P – E [Perris Ellis], C – K [Calvin Klein] and T – H [Tommy Hilfiger]," said Hilfiger.

Today, his business is growing in Latin America, Asia and Eastern Europe.

After successfully expanding worldwide and becoming an icon in the world of fashion, Hilfiger now focuses on giving back. He has adopted a village in Uganda and his company is often the first to donate clothes when natural disasters hit the United States.

When asked what would he like his legacy to be, Hilfiger said jokingly, "… I'm 58 now, I know that's old to you. Giorgio Armani is 75 … Ralph Lauren is in his 70s, so I have a few more years."

He added, "I would like the legacy to be as it's been built today: incredible quality, great all-American-based classics – accessible, affordable, aspirational for everyone."