Pearl Grant Richmans
Barry Richman
Pearl Grant Richmans just celebrated its 65th Tell us about the history of this Albany institution.
My mother and father started the business as Richman Card and Gift Shop in 1959. Pearl Grant had a store here and she wanted to get out, so we purchased it and put the two stores together and combined the names. We’re actually the only remaining original tenant of Stuyvesant Plaza. The rest is history. Here we are 65 years later.
Did you always plan to take over the business from your parents?
Probably. I was a music major at the New England Conservatory – a percussionist. If you don’t get a job with the Boston Symphony Orchestra or the Philadelphia Orchestra – forget it, you’ll starve. As a teenager, I worked in the shop and grew up in the family business.
What was it like working with your parents?
Terrific. I learned a lot from my parents because they really knew how to work with people. They really had the customer service aspect down. I have always lived by that way of thinking.
What makes Pearl Grant Richmans special? What is the secret to your success?
I love beautiful things. I don’t like selling junk. So, I set my standards very high. I strive to be world-class. I travel a lot, so I try to compete on a national level. I like going to the top cities and going to school on them. And I try to merchandise with top vendors in the industry.
What is something people might not know about Pearl Grant Richmans?
That is a very good question. I don’t know if people understand our relationship to the arts. We’re a big supporter of the symphony. I founded the Empire State Youth Orchestra in 1979. I used the same principles: the best conductors, top players, very rigid auditions. It started as one symphony orchestra and now we have about thirteen ensembles. We have a very special chime program that has three hundred kids in it. That’s for underprivileged kids. We just bought a new building in Scotia.
I played in the Albany Symphony for about twenty years. I founded the youth orchestra so I left performing and I’m now on the symphony board. I don’t think people know how important the arts are to us. The symphony is the heartbeat of the community.
What is the best part of being a husband-and-wife team?
First of all, it’s another thing we can do together. We have a really wonderful relationship and a wonderful life. We have different ideas about purchasing from different vendors, and departments we like to build on. We like to play off each other’s ideas. Even if we don’t agree on something, that’s probably a good thing. It’s always good to have somebody present another angle on something.
She does all the vintage buying. Young people are really getting involved in vintage merchandise. That’s been terrific. It’s like a whole different life for my wife. She loves going to auctions and searching for items. That’s her baby and she’s really good at it.
What gift items do you anticipate being popular this holiday season?
One department I’m really proud of is American, handcrafted gifts. We call it our gallery room. We also have major brands like Jellycat – stuffed toys and animals. It’s not just teddy bears anymore. We have these incredible holiday lanterns that light up – they’re like snow globes and they play music. We have world-class chocolates. Our chocolates are the best of the best. Our macarons are real French macarons, they’re the real thing that you can get in Paris. We do tastings for everybody. Tasting is believing, haha!
What do you enjoy most about running a retail business?
The most fun is the buying, of course. That’s the easy part. I love doing display work. I love setting the store up in a way that when the customers come, they come for an experience. I like to think that they come here for something that they hadn’t really thought of getting. We play nice music, so we create a nice environment.
What advice would you give someone interested in opening a retail store?
Have a long-range plan and stick with it. Don’t be afraid to take chances. And be prepared to deal with tough times. None of us are so lucky to only have smooth sailing throughout our careers. And don’t let naysayers get in the way of your convictions.
What does the future of Pearl Grant Richmans look like?
Naturally, I’d like to stay here forever. Time went by so fast, I’m 84 now. I’m in fantastic shape. I feel a lot younger than I am. But I’m not kidding myself on the other hand. I know I better start thinking of an exit plan. Ideally, it would be nice to have someone in the family take over the business. My lease is up in 2027, and I suppose I would entertain an offer from a serious buyer. It would be great if the name of the store could continue on.
December, 2024
