Carole Hochman, president of one of New York's largest women-owned
companies--Carole Hochman Design Group Inc.--began her career almost by
accident.
"I wasn't at all sure what I wanted to do when I started out," Hochman
recalls. "I was good at math and sciences, and I had read an article about
careers in the fashion business in Glamour magazine, where the author mentioned
Drexel University in Pennsylvania as a good trade school for studying fashion
and science." Hochman enrolled in what was then called the Home Economics
College and discovered that she had a talent for design.
While a sophomore at Drexel, she took a job in the lingerie department at
Bergdorf Goodman. At the time, she knew nothing about lingerie. But that job was
the beginning of what would become a multimillion-dollar career as a designer
with licensees including Ralph Lauren, Lilly Pulitzer, Oscar de la Renta, Jockey
and Betsy Johnson. Now, almost 40 years later, Crain's New York Business
recognizes Carole Hochman Design Group as New York's seventh largest woman-owned
company, based on $160 million in revenue. That places Hochman between Eileen
Fisher Inc. and Daffy's on the list.
While at Bergdorf, Hochman met Betty Hughes, a buyer with Bonwit Teller.
Hughes became a lifetime mentor and encouraged Hochman to become a designer. The
hard-working Hochman soon earned the opportunity to design sleepwear for Bonwit
Teller. She knew little about garment construction or the fabrics used to
produce them. Nevertheless, Hochman scored on her first try, launching her
career in the world of intimate apparel. The following year, 1968, she went to
work as lead designer for the Christian Dior intimates license, then owned by
parent company Chevette.
A Force in the Industry
Neal Hochman's father, Sol, started Chevette in the 1930s, and Neal
joined the company in 1955 after graduating from the Wharton School of business.
He proved to be a tenacious businessman and, as a married couple, the Hochmans
became a force in the lingerie design business. In 1985, in a testament to
Hochman's vision and talent, Chevette was renamed Carole Hochman Designs.
Although Neal and Carole are divorced, he remains CEO of CHD Inc., one of the
few privately owned companies in the business, and he has guided CHD through
fashion and economic upturns and downturns. Today, CHD produces several lines of
intimate apparel under four labels: Christian Dior, Carole Hochman, Sara Beth
and Bordeaux.
Hochman has always had an innate ability to identify opportunities and
trends, and to translate her vision into intimate collections. "I often compare
this business to a tennis match," Hochman says. "It's been reinvented a thousand
times. You always have to keep your eye on the ball and be prepared for the ball
to come back. "
When competition from off-shore manufacturing threatened their
made-in-the-USA business, for example, the Hochmans acted quickly. They closed
their factory in Puerto Rico and opted to go offshore instead. "It was a
challenge: identifying suitable manufacturers, developing new relationships,
establishing quality standards and more," Hochman recalls. She says the hardest
part was giving up some of her control.
"We had to send designs overseas and wait to see what came back. Sometimes
the product was great, sometimes not." It was a challenge to maintain quality
and deliver what customers expected, she says.
Seizing an Opportunity
Hochman saw another opportunity when QVC came to TV. She was one of the
first designers to take advantage of the home-shopping channel. Today, CHD makes
its lingerie and sleepwear available through home-shopping services and the
company website, as well as the Carole Hochman Design Showroom on New York's
Madison Avenue. Primary design and sales are done at the Madison Avenue office,
housing 180 designers and sales personnel. All back-office financials and
distribution are managed from a location in Williamsport, Pennsylvania. CHD
lingerie and sleepwear are manufactured all over the world, including China,
Oman, Sri Lanka, Indonesia and India.
What Hochman loves about the business is the people. "From a young age, I've
been exposed to a luxury world of great people and quality brands. People such
as Oscar de la Renta have trusted us with their names, and every day I get to
teach other people what I know." With her mission of "Live Well, Sleep Well,"
she has begun to design comfort sleepwear in organic cottons to support a
cleaner and healthier environment.