[Congressional Record Volume 157, Number 67 (Monday, May 16, 2011)]
[Senate]
[Pages S2988-S2989]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]
RECOGNIZING OUTDOOR GEAR EXCHANGE
Mr. LEAHY. Mr. President, today I wish to bring the attention of the
Senate to a small business in Vermont, the Outdoor Gear Exchange, which
is moving to a new location near and dear to my heart--the Church
Street Marketplace in Burlington.
A large, national retailer recently chose to depart the Marketplace.
This left a big hole on one of our nation's most successful pedestrian
malls. The local owners of the Outdoor Gear Exchange, Marc Sherman and
Mike Donahue, quickly took the opportunity to move their successful
venture from a nearby side street onto Church Street.
As a longtime supporter of the Church Street Marketplace, I was
pleased to see this locally owned and much-beloved fixture in the
Vermont business scene fill one of the most high-profile store fronts
on Church Street.
I hope Americans interested in good news during this difficult
economy might take a moment to read about this great business, and I
ask unanimous consent to have the May 16, 2011, Burlington Free Press
article written by Dan D'Ambrosio entitled ``Outdoor Gear Exchange
takes its store, and philosophy, into a bigger space'' printed in the
Record.
There being no objection, the material was ordered to be printed in
the Record, as follows:
[From the Burlington Free Press, May 16, 2011]
Outdoor Gear Exchange Takes Its Store, and Philosophy, Into a Bigger
Space
At the beginning of last week, Marc Sherman, co-owner of
Outdoor Gear Exchange, sat in the empty, cavernous space on
Church Street where he was moving his business--in the spot
Old Navy used to occupy--and contemplated the grand opening
of his new store approaching on Thursday.
Sitting surrounded by partially finished displays and
unopened boxes of merchandise scattered about on the concrete
floor, it was hard to believe. But Sherman and his crew of 65
full-time employees were determined to be ready for this
week's ribbon cutting and remarks by Gov. Peter Shumlin.
Sherman said the creation of his new store--at 15,000 square
feet of retail space, twice the size of the old store on
Cherry Street--cost more than $100,000.
``All of my staff is running around putting this
together,'' Sherman said last week. ``Unlike most stores,
we're not moving into a store, we're building our own. That
increases everyone's commitment.''
Sherman said he thinks of his staff as family, and said the
rush to get the new store open has been exhilarating. He's
proud to be, he says, the first local store in that prime
space on Church Street in a very long time.
``I have the world's greatest staff,'' Sherman said.
``Everyone is fun and enthusiastic. They're funny and smart.
I love hanging out with them. They're all really active. To
me that is the most important thing about what I do. I like
the people I work with.''
Sherman grew up in Englewood, N.J., moving to New York City
after graduating from college to take a job crunching numbers
for the marketing department of a manufacturing company, a
job he remembers as ``not particularly exciting.''
On winter weekends, he would drive to Vermont to ski at
Ludlow.
``I realized every weekend I wanted to go home to New York
less and less,'' Sherman said. ``I never had a bad experience
in Vermont. I said, Why not stay here and visit New York?'
That was 19 years ago.''
Sherman began his business with a friend in 1995 in an 800-
square-foot space on Main Street, where Tonic is now. Their
business plan was based on the fact that Sherman had more
outdoor equipment than he knew what to do with, and his
friend didn't have any.
``We wanted to connect people who have too much with people
who have too little and make it affordable for them to get
outside because, I'll be the first to say, the gear is
expensive; the clothing is expensive,'' Sherman said.
Sherman quickly moved beyond consignments, settling on a
three-tier model. Consignment items still make up about 8
percent of his business, all of it walk-in, but the bulk is
in new clothing and gear plus seconds, close-outs and
cosmetic blemishes. There are very few outdoors stores using
this particular mix of product offerings, Sherman said.
``It's a model that's proven to work even if it doesn't
always make sense,'' Sherman said. ``Somebody is looking at a
full-price backpack for $450 next to somebody looking at a
close-out backpack for $250, next to somebody looking at a
used backpack for $150, and we sell to all of them. Some
people want to spend more for what's out this year. Some
people want to save a little. We have something for
everybody.''
Sherman also went his own way when it came to deciding what
to stock.
``We felt if we opened a store that would focus on what
consumers are looking for opposed to what manufacturers are
generating,
[[Page S2989]]
we'd be successful,'' Sherman said. ``We always tried to find
gear our friends would buy, or that we would want to buy.''
Outdoor Gear Exchange also does an online business account
for 25 percent of its sales and growing, nearly doubling this
year. Sherman was able to consolidate his online staff from
where they were, in a space above The Body Shop on Church
Street, to offices in his new space. Although he doesn't
release sales figures, Sherman did say his annual payroll
approaches $1 million.
With all the extra space to work with in the new location,
Sherman and co-owner Mike Donohue are getting into gear for
family camping, also known as car camping, which will put
them in competition with Dick's Sporting Goods in Williston.
Traditionally, Outdoor Gear Exchange has focused on
backpackers, climbers and hikers, ``folks going out into the
wilderness,'' Sherman said, and who place a high value on
light-weight gear.
But Sherman said family camping is a growing segment of the
market, especially for people his age--45 years old. It's not
inexpensive to get into, but once you're set up, it is a
relatively cheap vacation. The priorities for the gear are
different than those for hikers and climbers.
``Car camping is a little more focused on amenities and
space, as opposed to weight,'' Sherman said. ``We'll offer
tents with more features oriented toward cushy living,
thicker sleeping pads, things like that.''
Sherman also plans to expand his offering of casual outdoor
clothing to include lower price ranges than he has
historically stocked, in memory of the recently departed Old
Navy.
``We're sensitive to the fact that Old Navy provided a
service to folks who couldn't afford more expensive
clothing,'' Sherman said. ``Whether it was high quality or
not, the bottom line is it was highly affordable. We want to
make sure that doesn't become a void in the downtown, so
we'll look for outdoor casual that's more affordable than
what we currently sell.''
Eventually, Sherman plans to add another 8,000 square feet
of retail space in the basement of his new space, which he is
also leasing. Panera Bread, the national chain of bakery-
cafes, will also be on the main floor of the building as the
only other tenant, although there will be no physical
connection between the two businesses. Panera isn't expected
to open for another month or two.
``I hope we get some bread smell, but that's about it,''
Sherman said.
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