Main RMI Number
408-554-4960
SCU - St. Joseph's Hall
Room # 108
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Retail Management Institute Newsletter
Advisory Board Profile: Philip Schlein - U.S. Venture Partners
By Carrie Fuller '01
| Phil Schlein, a current Venture Partner of U.S. Venture Partners, comes from a distinguished retail background that was capped with an 11-year tenure as C.E.O. of Macy's West. Crediting his successful career to hard work, Schlein's happiness rests in the fact that he believes USVP is his dream job, where he can help other entrepreneurs get their start. As for his start, growing up outside of Philadelphia, Schlein graduated college with a degree in Economics from the University of Pennsylvania. Upon graduation, Schlein knew two things for certain he wanted to live in New Yorkand he knew nothing about business.
Since established department stores had great structured training programs, he chose a job at Macy's in New York, as a trainee in the Toy Department over the holiday season. After diving full-force into 20 hour long days, six days a week for two months, Schlein emerged a new man, completely hooked on retail. His parents barely recognized their thin, over-worked, and extremely happy son. My dad was ready to commit me to a mental institution because he had never gotten a days work out of me before then, he said. Schlein's days as a trainee began his lengthy journey through the ranks of Macy's. From trainee to junior assistant, senior assistant, manager, regional manager, buyer and senior VP, he got a taste of all aspects of Macy's management.
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Phil S. Schlein
Venture Partner - U.S.V. P.
Phil Schlein is a founding member of the Retail Management Institute.
He has been an active Advisory Board member since its inception in 1980
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Eventually in 1974, he was given the opportunity to lead the Macy's west division in California. Being a CEO was fun, the buck stopped with me. Since the parent company was in New York, they sort of left me alone. Three thousand miles was a help, said Schlein. In 1985, he made the leap out of Macy's to join USVP as a General Partner. With some time under his belt, as well as more experience, he shifted his role to his current position as Venture Partner just a few years ago. Working on the legendary Sand Hill Road in Menlo Park, Schlein's current passion is for the newer, evolving side of retailing, or electronic retailing (e-tailing).
E-tailing is just another distribution channel, he commented, We got a little too excited by it before, but now it will settle down. There will be multi-channel retailing, with stores, catalogs AND Websites.
Schlein also pointed out that retail companies could not even fathom being on the Internet 30 years ago, noting that the retail choices for consumers have grown dramatically since then. Generally, I think the current customer wants a physical presence, be it a catalog or store, so they know the company is for real. But, I think the future will be one where pure-play retailers will do very well, he said. Asked about advice that could be given to a student interested in retail, Schlein recommends to choose a company where you have the opportunity to learn the most skills to take with you wherever you go. I am part of a breed that only worked in two places my entire life. Today people usually work in their first 2 jobs in the first three years out in their career! he said. One thing is for certain; Schlein won't be slowing down anytime soon. I have really enjoyed every step. I have enjoyed meeting people and I have enjoyed waking up everyday to a new challenge, he said.
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