A Day in the Life: 26 Years of Triumph. By breaking the rules and knowing their clientele, Felix Cohen and his wife Shayne have devised a winning formula for success.
In a recession, how is it that profit for this Bal Harbour Shops multibrand boutique is up by 20 percent? Here, Felix Cohen shares his unconventional buying approach, some sound advice and a glimpse into what in fashion excites him right now.Dawn Terrick: How did you come to open your own store in 1983?
Felix Cohen: In 1978, I was part owner of a high-end store named Caron Cherry in Coconut Grove. At this time, there was very little European fashion to be found in Miami. I changed this by being one of the first retailers to introduce European designers to the Florida scene. In 1983, I opened a new business of my own, Oxygene, at Bal Harbour Shops and continued to focus on bringing something different to the market.
DT: What inspired you then and what inspires you now?
FC: It’s the same thing now as it was 30 years ago. I like the fact that I get to start over every six months; it’s like you’re opening the store for the first time — so exciting. When you go on a buying trip, you don’t know what to expect. This gives you so much energy.
DT: How long does a typical buying trip last for you?
FC: Shayne and I are very strict in keeping the buying trips as short and full as possible. Because there’s so much to see, we limit the trips to four or five days. After six days, it’s easy to get confused, which makes the buying very tough. You’re betting on an entire season, and therefore, you cannot afford to get overwhelmed. Focus is crucial.
DT: Tell me about a typical day in your life while on a buying trip.
FC: We begin our day at 9 a.m. with breakfast at a showroom, and end it around 9 or 10 p.m. over a glass of wine and dinner. For the New York City buying trips, we schedule approximately five to six appointments a day, and in Europe, it’s around two or three. Also, we don’t spend a lot of time going to the fashion shows. Although they’re beautiful and fun, we simply don’t have the extra time. Instead, we spend our time going from showroom to showroom. The buying trips are all work and no play.
DT: The way you buy for Oxygene is unconventional. How?
FC: First, I do it for me. I do not try to buy everything for everybody. I have my niche, and my customers always know what to expect when they come here — that they will find something special, never basic. Second, we underbuy. High fashion has a short life and is very expensive. If you overbuy, it can be dangerous to your business. Third, we spend a great deal of time editing. After we see everything, take pictures and review, we’ll buy only one or two items from a collection. And four, we limit ourselves to two or three themes and colors for each season. These are our “style stories.” At the end, everything works together and the customer has many original options.
DT: Why do you think people from around the world flock to Oxygene for their wardrobe needs? What are Oxygene’s most distinctive attributes?
FC: We often hear “There’s no store like yours.” They ask us to open a store where they live! Oxygene is a true specialty boutique where we provide a major selection of looks that have been carefully selected to be unique. Also, the fact that we only have one store makes us different, too. We can get people from all over because nobody else has what we do. Selection, editing and buying for your customer are crucial.
DT: In today’s tough economical climate, how do you keep Oxygene steps ahead of the competition?
FC: I’m not displaying recession clothes. I’m giving my customers items that will make them feel excited. Plus, service is very important, now more than ever, and we have major credibility with our customers. They will stop buying from other businesses, before us. They may buy a bit less, but if you have the right merchandise, they will come. We’re doing very well — profit is up by 20 percent!
DT: What are the defining characteristics you look for in designers — established and emerging — when buying for Oxygene?
FC: We are open to anything new. The only restriction is that it must make the woman beautiful. It must be flattering and sexy for our customers.
DT: Where does a successful multibrand boutique like yours happen upon new talent?
FC: In the industry, the showroom is where the world goes around. The owners or managers of the showrooms introduce us to the designers and their collections and really get us into it. Then, we’ll ask them who is already carrying the line. Next, we’ll go to the best stores and see what they’ve selected. We’ll speak with other retailers and ask them, “What are you buying this season?” They’ll give us a name, and we’ll give them a name. Often, however, I find what I’m looking for on the street. If I see something I like, I’ll stop the person and ask them about what they’re wearing. Sometimes, too, our customers will tell us about something new.
DT: Can you elaborate on some of your favorite showrooms to visit in New York, Paris and London and why you prefer them?
FC: We go to multibrand showrooms, for they have a lot for us to see. In New York, we visit Showroom Seven because they are well connected with Europe and have a good eye for emerging talent. Then, we’ll go to The News, for they are also very well connected, particularly with Asian designers and new lines. In Paris, we go to Show Room Fabre, and in London, it’s RMO/Sales. They have a great eye, too, for discovering new talent.
DT: Why else are the showrooms important?
FC: A lot of what you see on the runway is never made. Presented in an exaggerated way, it’s meant to give you an idea of what can be done for a look. The shows are pure entertainment. Also, at the shows, the majority of the collections are never shown. They are really much bigger and can be purchased in so many different ways. For example, one jacket may be available in many colors. Most likely you wouldn’t know this unless you went to the showrooms. Once there, it’s important to make your selections and view them on the models. You need to have the clothes directly in front of you to fully appreciate them. This is how we choose. Also, we buy with our market and the personality of our customers is the focus.
DT: What designers are you most interested in now?
FC: There are a whole bunch of young, up-and-coming British designers residing in London. We’re into them. The whole fashion has been right with this tough yet feminine, Kate-Moss-inspired look — tight leggings, stretch leather leggings and biker jackets. We really like Jasmine Di Milo. As the daughter of Mohammed Al Fayed, owner of Harrod’s, she was born into the fashion business. She’s extremely talented. Other London-based designers and collections we like include Christopher Kane, Giles, Marcus Lupfer, Preen and Les Chiffoniers, who in our opinion, has the best stretch leather leggings. As well, we are featuring in the store this year pieces by Emanuel Ungaro, Lanvin, Phi, Balmain, Blumarine, Matthew Williamson and Jean Paul Gautier, among others.
DT: What advice can you offer fashion students, emerging designers and other luxury retailers?
FC: We are bombarded with so much information, but at the end of the day, you have to go with your own feeling. Follow your instinct. Don’t copy others. Always try to be true to yourself. You have to build your own identity. To be different is the challenge.
Dawn Terrick is the President and Creative Director of DKT Communications, Inc. – a creative services company for media and marketing
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