Acquisition of businesses these days are considered the sign of tough times brought by the global financial crisis. However, this transaction may be one of those rare exceptions. In fact, the acquisition is a healthy business sign for both parties.
Private equity firm Advent International Corporation has reportedly acquired women’s business clothing retailer Charlotte Russe Inc. for a lucrative price tag of $380 million. This can be translated to $17.50/share purchase for the San Diego-based clothing chain.
Earlier this year, Advent purchased a majority interest in Fifth Third Bancorp’s payment processing unit in a tune of $2.35 billion. The Boston-based private equity firm has also invested in other lucrative businesses.
As the new owners of Charlotte Russe, Advent has entered the competitive and financially-challenge women’s business clothing industry. There are about 500 Charlotte Russe stores, mostly located in malls and are competing with several stores selling similar items such as H&M and Forever21 who also sell appropriate undergarments and lingerie.
Advent executive Jenny Ming is reportedly chosen by the private equity firm to oversee the investment on Charlotte Russe. Ming is a former president of Old Navy chain, a subsidiary of Gap Inc.
The global financial crisis is far from over and many people are clamoring for a chance to find new work after being affected by retrenchment and bankruptcies. In order to look good during job interviews, business clothing has become an unwritten rule.
However, as most formal attires are, business clothing is expensive thus aspiring job seekers are now flocking second hand clothing shops in order to find decent clothing at less cost.
The great thing about these second hand clothing shops is that they don’t just display business clothing haphazardly. The products have been well-taken cared off in order to look at least presentable and could pass off as brand new.
Second hand clothing shop Ritzy Reruns, owned by Kelley Maravilla, showed a boom in sales the past few months following the growing interest of budget-conscious buyers in the area.
Maravilla said that aside from budget-friendly prices, chances are the items that they purchase are unique which could set a trend.
Another clear testament of Maravilla’s business success is the emergence of similar shops within the area. This only signifies that demand for second hand yet decent business clothing is on the rise these days.
Considering a major change in your career path is normal because sometimes we come to a point where we look for another job opportunity that could provide more professional and personal growth. This is where job fairs come in. This is certainly a great venue to consider your options and pick out the company where you are most comfortable to transfer to.
Job fairs serve as a fantastic opportunity for you to network with recruiters, employers and even jobseekers so it pays to look your best when you attend these events.
Here are some things you can do before you troop to a job fair event:
• Research on participating companies in the event: Being familiar with the companies participating in the job fair gives you a certain edge because you get to share more to potential employers what you know about their business and why you should become part of the workforce.
• Have an idea on your personal career goals. This is one of the most likely questions that would be asked by the potential employer so it is best to be prepared.
• Prepare your professional business attire: Dress as if you are ready for the most important interview of your career life. Make sure that you have your best professional business attire ready so that you can wear this for the job fair.
Smart clothes could make a difference in your corporate career. It is a known fact that your physical look matters when it comes to providing first impression. As one corporate expert would say it, everyday is an interview.
So what constitute smart clothing in the workplace? In the corporate world, you can’t go wrong by wearing conservative clothing. Dressing sloppily or provocatively could send a wrong message to the supervisors which could eventually affect your career in the process.
Good grooming matters because it tells a lot about your work. Prim and proper attire could mean prim and proper attitude when it comes to conducting work, arranging work documents or dealing with important clients.
Do smart clothes have to be expensive? The obvious answer is no. You don’t have to buy designer clothes. You can easily go to outlet stores and look for conservative clothes at lesser prices. The global financial crisis has provided an opportunity for you to find quality corporate clothes at lesser prices. Undergarments are really important too and must not show through clothing so going to get a bra fitting is a good option.
Aside from the smart clothes, your attitude in the workplace matters. Always bear in mind that whatever you do in the workplace could make or break your career. So always be vigilant.
The Nashua Salvation Army is currently conducting its Dress for Success Program which ends on August 15. This is part of the organization’s summer initiative.
Aspiring employees can simply go to the program center located at Montgomery Avenue to get their free women’s and men’s business clothing in order for them to sport on a respectable image whenever the go on job interviews or job fairs.
Nashua Salvation Army CEO Maj. Carl Carvill said that aside from basic commodities, people these days are finding employment because they may have been those who were let go in their former companies. The global financial crisis has simply affected everyone.
The women’s and men’s business clothing provided are guaranteed clean thanks to the efforts provided by local cleaning companies such as Anton’s Cleaners, Dave’s Dry Cleaner and True Blue Cleaners.
The Salvation Army is still continuing accepting donations from kind-hearted individuals. The volunteers said that they need dress shirts, neckties, skirts, blouses, dresses and shoes.
Salvation Army Advisory Board Chairman Tom Jenkins said that first impressions always matter when it comes to job interviews thus it is important for jobseekers to wear business clothing to exude professionalism and competency during the interview.