A tailor-made business
Schottenstein successor carries on family empire
By David Lewis |
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When a venerated surname like Schottenstein is scheduled to make an appearance in your office for an interview - the owner of a local suit-making business and the driver of a bitchin' silver Maserati - it's easy enough to expect an overbearing "suit."
Impish David Schottenstein turned all that on its ear.
When the 25-year-old entrepreneur arrived in our conference room clad in a dapper blue and gray patterned suit, with matching tie strung conspicuously short, it was easy to see why he was asked to leave the parochial school he attended as a boy in Columbus - he looks like that friend. The one who always gets you in trouble, the one who causes the ruckus and then dances away, laughing at you for getting caught.
After some shenanigans involving parked cars and youthfully mischievous destruction, the school was ready to part ways with the high-scoring and intelligent young prankster.
"The school, in a polite way, suggested I find alternative education arrangement," he said with a crooked grin. "I was always close to my teachers, they were good to me...it just wasn't for me."
His parents had heard of a Jewish parochial school in Italy, and shipped him off; it was in Italy that he found the inspiration for his career...really nice suits.
"Growing up in Columbus, you are not going to be as fashion-conscious as you would in New York or Paris, London, any of these cities," said Schottenstein. "But in Venice, there are some of the nicest stores in the world. Zegna, Brioni...I just fell in love with it."
Schottenstein returned to Columbus with a mission well-aligned with his family's retail dynasty, and the business sense that worked for his great-grandfather and grandfather would provide the younger Schottenstein the competitive edge he needed.
"[Astor & Black] is very different, as far as the market it is targeted towards, but the concept remains the same," he said. "If you create a service they can't get anywhere else, at the lowest price, and the quality is fantastic, you have a loyal customer."
Schottenstein said that with high overhead from expensive materials and elaborate fitting sessions (involving sales representatives who actually meet with clients in their homes and offices to be fitted), customer loyalty was critical.
Schottenstein started the business with a single employee, and haunted elevators and offices all over town, critiquing the threads of the Columbus businessman, promising a better suit and better tailoring, at a fraction of the price.
(See David Schottenstein's Fashion Do's & Don'ts here)
He now has 65 sales representatives nationally, with about 10 employees in Columbus alone. Some of his higher profile clients include Ohio State's Beanie Wells, and Ken Rosenthal, owner of Panera Bread.
Schottenstein has big plans for the not-too-distant future of Astor & Black. While the company has always offered women's clothing, he plans to announce a full line soon, upon the hiring of his 100th sales rep. Also in the works are luggage and accessory sets, from deerskin bags to belt sets...and always at the most competitive price around.
"I am only going to sell it if I can sell it for less than anyone else in the business," he asserted. "If everyone else is charging X, I am going to sell it for 40 percent less."
The model is working.
"We're growing nicely," he said with a smile. "I think our sales have been steadily doubling from year to year, in spite of the economy."
Schottenstein's success has attracted the attentions of others, as well. Last month, he won Ernst and Young's Entrepreneur of the Year Award for South-Central Ohio and Kentucky.
"We definitely have our bread-and-butter type guys," he said. "Gray suit, blue suit; but more and more, there is a growing segment of our clientele who are wearing increasingly fashion-forward styles."
Schottenstein attributes much of that to pop culture trends.
"The stuff in [cable television's] Mad Men is spurring that on," he said. "It's unbelievable. Now everyone wants skinny lapels, and we've seen tie clips come back in a big way. That's been a real inspiration."
For his own inspiration, Schottenstein might be considered more of a classicist.
"As far as fashion, Tom Ford and Ralph Lauren - between the two of them, [you have] the nicest clothes in the world, and for the value no one can touch them."
Originally Published: August 1, 2009
