Three’s A Charm as Edmond Harary, Raymond Dayan and Jack J. Gindi of Gina Group (Booth #2521 - 2621) work together to bring retailers what they need, when they need it.
January, 18th 2011
The year was 1996. 23 year-old Jack J. Gindi just 1 year since graduating Baruch College in New York – proposed a concept to his employers. Jack had been selling for Edmond Harary and Raymond Dayan since his junior year. Together, they were jobbing closeouts they would find from hosiery mills down south.
After some thought and a few meetings later they agreed that - in order to take this business to the next level - they had to look beyond the shores of this great country and redefine their business model. Importing and inventory was not new to the industry but it was to these three young men.
Edmond joined his father Joe at Gina Hosiery in 1986. By 1990, they needed a young and aggressive salesperson to help take the load off and expand distribution. Raymond, not yet 20 years old and already engaged to be married that June, hit the pavement running and has never looked back. As soon as Jack joined them, the infrastructure was set and the cohesion left little to chance as they set forth with a strategy of growth and diversification in mind.
Back then Gina Hosiery was just a small hosiery supplier located on the 44th floor of the Empire State Building. The company had only 4 employees and no importing experience. These three street-savvy young men from Brooklyn had a plan and there was nothing going to get in their way.
Today, Gina Group (Booth #2521 – 2621) has over 150 employees between their showrooms in Manhattan and 2 distribution centers in the states; in addition they have 6 offices in Asia. Gina Group has grown from leg wear and socks to cold weather accessories, handbags and wallets, footwear, and – most recently – intimate apparel. They outgrew their space in the Empire State Building in 2001, and moved across the street to another building on 34th Street. In fact they just recently out grew that space and moved into a new location last November at 10 West 33rd Street.
“It has been a blessing to me ever since I took this part time job during college.” Says Jack, 38. “Over 10 years ago I took my life savings to buy into this business. I knew little beyond the people with whom I’d partner. Edmond Harary and Raymond Dayan – are brothers to me. They have been there for me since day one!”
Gina Group sells to a very diverse customer base, from dollar stores to department stores, Warehouse clubs, and junior specialty chains; or as Edmond, 46, sums up as “everyone.” “It’s probably very hard to find a tier of retail where we do not have placement,” claims Edmond.”
Raymond, 40, maintains that their broad customer base is due to hosiery’s uniqueness as a category covered at many different types of retailers. He adds, “What does hosiery do for a retailer? Hosiery is an inexpensive way a consumer can update a look. When times are tough people look for ways to enhance their wardrobe without having to replace and buy new. You can put on a new and fresh pair of tights for a fraction of the cost of a new skirt and completely change the look. Especially when leg wear is trending a woman can easily draw attention to the leg suggesting that they are wearing a totally new outfit.”
Edmond is proud to remind himself that “no one customer is more than 8% of our business. This freedom gives us the comfort in knowing we are independent enough to think and grow in ways that benefit all our customers.”
Jack cites the OFFPRICE Show’s expansion into accessories over the past few years as clear evidence of leg wear’s growing importance.
“OFFPRICE has always been and always will be an apparel-driven show. The presence of non-apparel exhibitors has grown in recent years because accessorizing is very important to retailers catering to off price. Leg warmers, knee high socks and other types of leg wear are very hot now. At retail you can easily see 12 to 20 feet dedicated to leg wear that you didn’t see 6 years ago.”
Gina has many brands/licenses in their prime vertical, including top sellers Steve Madden leg wear and Roca Wear socks. In fact Gina just signed Avia and is currently working on 3 others. Jack feels positive that hosiery and leg wear will continue to be profit centers for his customers. “Socks and underwear are commodities that retailers always need, even during the dull months.”
OFFPRICE is also a good measuring stick for Gina Group’s success.
“We started with 1 booth in the August 1998 Show, and will have 10 booths for the upcoming February Show.”
While Gina’s primary offering of leg wear continues to thrive, Jack is quick to point out that their expansion into new categories has been a real driver for their success. In Gina’s case, necessity was truly the mother of invention.
“The impetus to our diversification really started when we began importing to supplement the closeouts we were buying from the mills down south. Then as importing grew we got a scare back in 2005, when quota was reinstated on man-made fiber socks. Fearing the potential impact it would have on our core business, we saw the writing on the wall and got into footwear. It continues to be an area of growth for us. Shortly thereafter we got into handbags and wallets, and that’s been a hell of a business for us! Today, we continue to look for new and exciting acquisitions.”
Gina’s footwear venture began with Raymond importing basic flip-flops for dollar stores and has grown to include fashion sandals, and most recently boots. The new boot line includes toddler, girls and ladies and styles that range from short to long, seasonal and rain boots.
While it appears that Gina has the “magic touch” with every new endeavor they engage in, the three are quick to credit each other and the Good Lord. “Hard work and long hours can only take you so far.”
The boys grew up in a very competitive community – Flatbush Brooklyn. They lived among the heirs of large 2nd or 3rd generation businesses. Those who had it had it. And those who didn’t didn’t. So if you wanted something, you had to go out and get it. Each of these three go getters can point back to odd jobs they worked in their youth that has helped make them the businessmen they are today.
Edmond remembers well working the flea markets on cold and rainy Sundays. While Raymond worked after high school for his uncle while his closest friends were “hanging out.” And Jack recalls in the 4th grade wanting something real bad and so his mom drove him to a local wholesaler where he bought Tangy Taffy’s and began selling them for 25 cents in school out of his backpack. “
The Gina “Group” also has a strong network of family behind it. Edmond is married with 4 children, Raymond is married with 6 and Jack is also married with 4. When asked “you’ve got six kids and you’re not yet 40” Ray is quick to explain in his own witty way, “no cable!” In addition to a dedication to family each of the three is actively involved in their local community, schools and charities. “If not for the future why are we doing this” adds Raymond.
Edmond, Raymond and Jack are very much team players – having spent the past 17 years together – there isn’t much beyond the Gina world they know and little they don’t know about each other. “We treat our co-workers like teammates and our teammates like family, says Raymond. “We sometimes have to step back and count our blessings.”
Edmond shares the value of hard work and education that his father instilled in him. “My father founded Gina Hosiery when he was 62 years old. He was out of work and had no where else to turn. My father had no quit in him and the lessons I’ve learned by his side drive me till this very day.”
Gina has a lot of new product to showcase this coming February and Jack is confident that a successful OFFPRICE Show for Gina will be a great prelude for the new lines. “We see and meet new customers every single show!!! When I first investigated the OFFPRICE Show in February, 1998, I was blown away by what a great marketplace it was, and that was back when it was located in tents in The Sahara Hotel parking lot! I had a hard time convincing my partners that this was the show for us to be at. I’m not in the business to waste time or money. I don’t like being away from my family and I don’t really gamble. I know from doing the show these past 12 years that – especially if you’re a buyer – participating in OFFPRICE is not a gamble. It’s one of the most important investments you can make in your business. “
Visit Edmond, Raymond, Jack and the Gina Group at Booth #2521-2621 at the OFFPRICE Show, February 11-14, Sands Expo & Convention Center. Visit our Interactive Floor Plan on WWW.OFFPRICESHOW.COM to locate Gina Group and schedule a meeting with the boys.