John Peterman

John Peterman (born 1941)[1] is an American catalog and retail entrepreneur from Lexington, Kentucky, who operates The J. Peterman Company. He grew up in West Nyack, NY as the son of a banker and secretary.[2] He is known for founding the J. Peterman Company after finding a cowboy duster on a business trip.[3] Peterman was also a professional baseball player, Kentucky rancher, and an author.[4]

Early Life

John Peterman was the third of four children born to Charles and Sally Peterman. He had two brothers and a sister.[5] Charles Peterman became a loan officer and, later, the assistant vice president[6] of the Irving Trust Co. after working his way up from the mailroom. John Peterman grew up in Van Houten Fields, an agrarian commune in West Nyack, New York. Those who were part of the community built their own houses and grew a portion of their own food. Peterman learned to garden, tend chickens, and participate in other physical labor.[1] His mother worked as an administrative assistant after her children started school.[5]

As a high schooler, John Peterman attended Clarkstown High School and participated in basketball, baseball, and football. He was recognized in the local newspaper for his performance in all three sports.[7] In baseball, he played second base and was voted All-P.S.A.L Baseball first team selection as a second basemen.[8] He graduated from Clarkstown High School in 1960.[7]

Education and Baseball Career

Peterman graduated from the College of the Holy Cross, in Worcester, MA[2] in 1963 with a Bachelor’s of Science in Economics.[5] He played third base on the Holy Cross baseball teams that went to the College World Series in 1962 and 1963. As a junior in 1962, he had a 0.362 batting average and as a senior in 1963, he had a 0.291 batting average as well as leading his team with 17 runs batted in.[9] He also played baseball for the Pittsburgh Pirates organization for three years as a second baseman.[10] In 1963, Peterman had a one-day tryout with the Bronx Bombers at Yankee Stadium where he played next to Micky Mantle, Roger Maris, and Tony Kubek, but did not sign with the team.[11] His dream of becoming a major league baseball player ended in his early 20’s after a leg injury[12] and after he was unable to displace Bill Mazeroski’s place as second baseman.[13]

Career

Sales

John Peterman had a career in sales for 20 years after his baseball career ended. He worked as a regional sales manager in Kentucky, Tennessee, and Alabama for General Foods and Castle & Cooke.[3] During his time in sales, Peterman sold dog food, cereal, pineapple, tuna fish, and inspirational tapes. In 1981, he was managing fertilizer accounts but was dismissed.[2]

Corporate Consultant

Peterman became a corporate consultant after deciding “that was the first and last time I was going to be fired.”[3] As a corporate specialty-foods sales[1] consultant, he helped people make deals with other companies, and it allowed him to travel. During a meeting to help a client find an advertising company, Peterman met Donald Staley and they began to work closely together. They agreed to collaborate on any entrepreneurial ideas they envisioned, which led to several businesses.[3]

Entrepreneur

Together, Peterman and Staley started a mail-order company to heal sick houseplants as well as a manufacturing business making beer cheese; both were successful.[3] The beer cheese business was originally Hall’s Beer Cheese and Peterman bought half the company. While he was selling beer cheese, he found a horseman’s duster that would propel him into the retail business. The beer cheese was being sold downstairs and the retail business was upstairs until Hall’s was eventually sold.[14]

The J. Peterman Company

The J. Peterman Company
Private
Industry Retail
Founded Lexington, Kentucky, USA (1987–2000, 2001—)
Founder John Peterman
Headquarters Blue Ash, Ohio[15], USA
Products Clothing and Home accessories
Website www.jpeterman.com

The J. Peterman Company is a retail company that sells clothing, fashion accessories, and furniture primarily through catalogs and the Internet.

History

Early History: 1986-1994

The J. Peterman Company was founded in 1987 by John Peterman, an entrepreneur who was formerly a minor league baseball player.[16] In 1986, John Peterman bought a cowboy duster in Wyoming and received multiple compliments when he wore it. He and his friend Don Staley decided to write an ad copy to sell a few thousand coats. Staley wrote the copy and they published the ad in The New Yorker in 1987. They sold 70 coats through the ad.[4] Along with the horseman’s duster, the J. Peterman Company was started with $500 out of John Peterman’s pocket and an unsecured loan of $20,000.[17]

In 1988, the J. Peterman Company published its first catalog with black and white drawings of products and literary style copy for product descriptions.[4] The company grew by offering distinctive lifestyle merchandise (including reproductions of antique clothing and clothing worn in specific films) within catalogs that differed from other direct marketing at the time. The catalogs' long copy became its defining feature. The description for two shirts and a flapper-esque dress reads as such:

"When a man puts on this authentic French farmer's shirt he may very well find that his hands look bigger....Is that woman over there giving him the eye and nodding toward the haystack? Yes, and he knows what to do."[18]

— French Farmer Shirt

"Thos. Jefferson disliked stuffy people, stuffy houses, stuffy societies. So he changed a few things. Law. Gardening. Government. Architecture. Of the thousand castles, mansions, chateaux you can walk through today, only Monticello, only Jefferson’s own mansion, makes you feel so comfortable you want to live in it. I think you will feel the same about his 18th-century shirt. Classic. Simple. Livable."[19]

— The J. Peterman Shirt

"Enter the new woman: rebellious, out there, living life on her own terns… Feels like a whisper in silky crinkly georgette. Which could be the only thing about it that whispers..."[20]

— Flapper Dress

The first color catalog was produced in 1989, continuing to showcase products in illustrations rather than photos. Within the first year, the J. Peterman Company made $300,000 in sales on media ad space. In 1989, the company made $4.8 million in sales as well as having its first deal with Hambro America. The next year, the company made almost $20 million in sales and the company expanded to have 80 employees.[4] In 1992, the J. Peterman Company opened its first retail store in Lexington, Kentucky. The store opened on December 12, 1992 and sold strawberry reserves, a Chinese-made, BMW-style motorcycle with sidecar, and a 38-pound silver bar from a 17th century sunken Spanish ship.[21]

Seinfeld and Titanic: 1995-1999

During the ‘90s, the J. Peterman catalog attracted attention from celebrities, like Oprah Winfrey, Tom Hanks, Clint Eastwood, and Paul Newman.[4] From 1995 to 1998, Seinfeld, the most popular television series at the time, parodied the owner and the company with Elaine Benes working at the catalog under eccentric businessman and world traveler J. Peterman, played by John O'Hurley.[22] The show lawyers approached the real John Peterman after the first episode and allowed him to review each script before it aired. That same year, the J. Peterman Company posted a $400,000 loss.[4]

In 1996, the company began making plans to expand even though they cancelled $1 million worth of inventory orders. The company planned to open 70 stores and make $500 million in sales within five years.[4]

In December 1997, the company made a deal with 20th Century Fox to sell both original and authorized replica costumes and props from their upcoming film Titanic.[23] Most analysts expected the film to be a costly flop, and J. Peterman chose to feature it simply because it fit their brand as a period piece. When Titanic proved to be the biggest financial hit of all time, J. Peterman found themselves with a lucrative line of collectibles. The best-selling product was the only authorized replica of the film's iconic Heart of the Ocean blue diamond necklace. The company sold over $1 million worth of the necklaces, priced at $198 each.[24]

Flush with the success of their Titanic bonanza, the company raised private equity to expand. The company opened up 10[16] retail stores in several markets, including New York, Detroit, and San Francisco.[25] In December 1998, the company began to lay off employees and their lender gave a forbearance agreement.[4] The stores were moderately successful but the growth was too fast for the company's small operations. Despite $75 million in sales at its peak, the company was forced into Chapter 11[4] bankruptcy in January 1999.[16][25]

Bankruptcy: 1999-2001

On January 26, 1999, The J. Peterman Company sought bankruptcy protection from creditors and filed the petition under Chapter 11 of the Bankruptcy Code.[26] The company was purchased by Paul Harris Stores in 1999 for $10 million,[4] without the future participation of Peterman. However, Paul Harris Stores went bankrupt in 2000.[16][22]

In 2001, John Peterman and Scott Bernstein, a former member of the J. Peterman board and chief operating officer of SB Capital, bought back the intellectual property of the J. Peterman Company, including the brand property and mailing lists, for $600,000.[4] With the help of John O’Hurley, the actor who had portrayed J. Peterman on Seinfeld, as an investor and a core group from the original company (creative director William McCullam, marketing director Jonathan Dunavant, merchant Paula Collins and director of manufacturing Kyle Foster), the company was relaunched.[27]

2001-2014

During 2004, the J. Peterman Company started selling furniture. Jeffco is the company that makes the Peterman furniture and a representative, Tom Morton, says he has a customer that buys the furniture based on the company’s recognition in “Seinfeld.”[25] In 2008, Tim Peterman, the founder John Peterman's son, helped run the company as president after leaving E. W. Scripps. John Peterman became Chairman and was less involved.[4][28]

On November 24, 2010, the company was the first to use the marketing term "Red Wednesday Sale," referring to the Wednesday before Thanksgiving as "Black Friday's Impetuous Cousin."

In January 2011, the J. Peterman Company received a Job Creation Tax Credit incentive from the State of Ohio valued at $122,000 over a six-year term. The headquarters was moved from Lexington, Kentucky to Blue Ash, Ohio.[29][30] By 2012, the website’s online traffic increased to more than 2 million visitors a year.[31]

However by 2014, long-time employees were leaving the company, including Kyle Foster. The company posted a substantial loss and the banker reduced its line of credit. The next year, Peterman became more active in the company and brought back Kyle Foster and Jonathan Dunavant, another long-time employee. Kyle Foster is the current president of the J. Peterman Company and Jonathan Dunavant is senior vice president of marketing. Around this time, Matt Peterman, John Peterman’s other son, also came to work for the company as directing creative.[4]

2015-Present

On April 11, 2016, the company launched a Kickstarter campaign[32] to raise money for new product development such as the Urban Sombrero from Seinfeld.

In May 2017, the J. Peterman Company planned to open a brick-and-mortar store in Blue Ash, Ohio. The store would not be a retail store, rather it was the warehouse for the company. It was set to open on May 13, 2017.[33] The Smithsonian asked the J. Peterman Company to develop a collection of branded apparel in November 2017. The retail company will create pieces that are inspired by the historical resources at the museum.[34]

In 2018, the company had 50 full-time employees and brings in a little under $30 million in sales. There are only 20 employees that man the phones in contrast to 300 employees back when the phone was the primary sale medium.[4]

Marketing

In April 2016, the J. Peterman began a crowdfunding campaign to raise $500,000 in 40 days. The campaign offered different levels of participation, which includes pledging money for an Otavalo shirt, limited edition silk/cashmere turtleneck, limited edition Mod Flapper dress, the Urban Sombrero (inspired by the hat on “Seinfeld”), full kilt outfit, and a trip with John Peterman. The self-funding credit line would help the company avoid dependency on a bank credit line, which was a problem when the company first began.[35] It also allows customers to interact in the creative process in producing products for the catalog.[36]

In 2018, the J. Peterman Company hired French West Vaughan, a public relations and advertising firm, to help with brand development. The J. Peterman company has also begun to feature on-model photography on its website.[4]

Leadership

The following lists the current leadership of the J. P. Company:

  • President – Kyle Foster[4][37]
  • Senior Vice President of Marketing – Johnathan Dunavant
  • Creative Director – Matt Peterman[4]
  • Design Head, Member – Audrey Peterman[4][37]
  • Managing Member – John Peterman
  • Customer Service Manager – Ms. Kristin Stamper
  • Accounts Administrator – Ms. Christine McConnell[37]

Personal Life

John Peterman has been married to his wife, Audrey, for about 54 years and they have four children.[2] His daughter Robyn Peterman Zahn, a popular writer and former actress, is married to the actor Steve Zahn. They have two children, Henry James Zahn and Audrey Clair Zahn.[38] His son Tim Peterman was the CEO of J. Peterman Co. from 2008 until 2014 and helped build the company’s web presence.[39] Around 2014, Matt Peterman started working at the J. Peterman Company as the Creative Director after spending time in Los Angeles, CA in the film business.[4] In July 2015, Peterman’s son Sean Peterman was tragically killed in a farming accident in Lexington, KY.[40]

John Peterman owns a cabin on a 550-acre parcel of land in Lexington, KY that was formerly farmed by his son Sean.[1]

In 2001, John Peterman presented a lecture titled “The Painful but Essential Art of Failing” to his alma mater, College of the Holy Cross. Peterman spoke to the pre-business program at the invitation of Nancy Baldiga, the pre-business advisor and associate professor of economics.[41]

Works

After the J. Peterman Company filed for bankruptcy and was bought by Paul Harris Stores, John Peterman wrote a book titled “Peterman Rides Again.” It is a memoir that explores Peterman’s life, from his early baseball career to finding products for the catalog while traveling.[42] It also chronicles the rise and fall of the J. Peterman Company and Peterman’s “hard-won lessons in entrepreneurship.”[43] The book was published November 6, 2000 and has 225 pages.[44]

  • Peterman, John (2000). Peterman Rides Again. Paramus, N.J.: Prentice Hall Press. ISBN 0-7352-0199-4.

References

  1. 1 2 3 4 Vinjamuri, David (2008-03-31). Accidental Branding: How Ordinary People Build Extraordinary Brands. John Wiley & Sons. pp. 22–49. ISBN 9780470282083.
  2. 1 2 3 4 "Suburban Cowboy John Peterman Rides the Long Coattails of His Dude-Ish Duster to Catalog Success". PEOPLE.com. Retrieved 2018-08-17.
  3. 1 2 3 4 5 Witt, Karen de. "A Legend in His Own Ad Copy, and on 'Seinfeld'". Retrieved 2018-08-17.
  4. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 "In search of the real J. Peterman". Retail Dive. Retrieved 2018-08-21.
  5. 1 2 3 Jurgelski, Susan. "Putting on the ritzy / The man, the myth, the legend, the catalog and the new line of furniture". LancasterOnline. Retrieved 2018-08-24.
  6. ↑ "Rockland County Times 21 October 1971".
  7. 1 2 Basson, Sam (1960-01-14). "Spice of Sports" (PDF). Orangetown Telegram. Retrieved 2018-08-24.
  8. ↑ Basson, Sam (1959-06-18). "Lions Share to Rams, Suffern, Bucs in All P.S.A.L. Baseball Selections" (PDF). Orangetown Telegram. Retrieved 2018-08-24.
  9. ↑ "Bio - John H. Peterman". goholycross.com. Retrieved August 22, 2018.
  10. ↑ "John Peterman Minor League Statistics & History". Baseball-Reference.com. Retrieved 2013-12-02.
  11. ↑ Walters, John (1998-11-02). "YANKEE STADIUM FOR SALE HOME PLATE AND OLD SEATS AT J. PETERMAN'S AIN'T CHEAP". Sports Ilustrated. Retrieved 2018-08-22.
  12. ↑ "The real J. Peterman turns to a Texas company for a baseball product in his spring catalog". Dallas News. 2018-04-04. Retrieved 2018-08-22.
  13. ↑ "John Peterman Has 40 Million Reasons To Smile". tribunedigital-chicagotribune. Retrieved 2018-08-22.
  14. ↑ Ace (2016-04-26). "How J. Peterman Is Resurrecting Retail". Ace Weekly. Retrieved 2018-08-17.
  15. ↑ Privacy policy of The J. Peterman Company
  16. 1 2 3 4 Greenwald, John (August 12, 2001). "Peterman Reboots". Time. Retrieved March 9, 2009.
  17. ↑ "J. Peterman rides again". msnbc.com. 2009-01-25. Retrieved 2018-10-08.
  18. ↑ French Farmers Shirt at jpeterman.com
  19. ↑ at Signal v. Noise
  20. ↑ at Jezebel
  21. ↑ "J. Peterman hits Kickstarter; one reward is an urban sombrero". kentucky. Retrieved 2018-10-08.
  22. 1 2 Jong, Mabel. "J. Peterman catalogs his success: Yada, yada, yada", Bankrate, 6 June 2003.
  23. ↑ https://www.racked.com/2017/12/13/16752938/titanic-heart-of-the-ocean-j-peterman
  24. ↑ https://www.racked.com/2017/12/13/16752938/titanic-heart-of-the-ocean-j-peterman
  25. 1 2 3 Fornoff, Susan. J. Peterman is back / This time the catalog king is writing the 'adventures' of his new furniture line San Francisco Chronicle, 12 June 2004.
  26. ↑ Press, The Associated. "Retailer J. Peterman Files for Bankruptcy". Retrieved 2018-10-08.
  27. ↑ "The Real J. Peterman". racingtotheredlight.com.
  28. ↑ "Founder`s Son Named to Lead J. Peterman". Digital Commerce 360. 2008-03-31. Retrieved 2018-10-08.
  29. ↑ "Job Creation Tax Credit Report" (PDF). Ohio Development Services Agency. p. 24.
  30. ↑ "Blue Ash Economic Development News". Blue Ash Advance. City of Blue Ash, Ohio. March 2011. Archived from the original on 2013-10-18.
  31. ↑ Schiller, Kristan (2012-07-06). "Bouncing Back from Bankruptcy to Reinvent a Brand". Entrepreneur. Retrieved 2018-10-08.
  32. ↑ "J. Peterman Kickstarter Campaign". Kickstarter.com.
  33. ↑ Thomas, Lauren (2017-05-01). "Quirky catalog retailer J. Peterman, made famous on 'Seinfeld,' set to open store". CNBC. Retrieved 2018-10-08.
  34. ↑ "J. Peterman to Style Smithsonian Apparel". License Global. 2017-11-30. Retrieved 2018-10-08.
  35. ↑ Young, Vicki M. (2016-04-13). "J. Peterman Adds Crowdfunding to Financing Options". WWD. Retrieved 2018-10-08.
  36. ↑ "The J. Peterman 'Urban Sombrero' From Seinfeld Is Happening". Fortune. Retrieved 2018-10-08.
  37. 1 2 3 "J. Peterman Company, LLC | Better Business Bureau® Profile". www.bbb.org. Retrieved 2018-10-08.
  38. ↑ "Robyn Peterman". IMDb. Retrieved 2018-08-23.
  39. ↑ Schiller, Kristan (2012-07-06). "Bouncing Back from Bankruptcy to Reinvent a Brand". Entrepreneur. Retrieved 2018-08-23.
  40. ↑ "J. Peterman's Son Killed In Farming Accident". Retrieved 2018-08-23.
  41. ↑ McNamara, Katharine (Spring 2001). "The Single Most Important Job" (PDF). Holy Cross Magazine. 35: 41.
  42. ↑ "Nonfiction Book Review: Peterman Rides Again by John Peterman, Author Prentice Hall Press $25 (288p) ISBN 978-0-7352-0199-6". PublishersWeekly.com. Retrieved 2018-08-27.
  43. ↑ "College of the Holy Cross | Holy Cross Magazine". www.holycross.edu. Retrieved 2018-08-27.
  44. ↑ "Peterman Rides Again". www.goodreads.com. Retrieved 2018-08-27.
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