Company Name: Perlis Clothing
Name and Title: David W. Perlis, President
High School: Isidore Newman
College: Rhodes College – Memphis, TN
Family Members: Suzanne, Caroline (24) Wicker (21) Lauren (18)
Hobbies/Interests: Golf, Traveling, Cooking
Biggest Accomplishments in Business:
82 years in business through three generations
MR Magazine Uptown/Downtown Award Recipient
Esquire Magazine Top 100 Men’s Retailer In America List (Multiple Times)
What is your “go-to” outfit for dinner?
Perlis: 34 Heritage 5 Pocket Twill Chinos, David Donahue Check Spread Collar Shirt, Samuelsohn Soft Construction Sport Coat, Torino Alligator Belt, Peter Huber Bit Loafer-Style Driving Shoe, Marcoliani Patterned Socks and a Robert Jensen Pocket Square
What attracted you to hire PRIME for your business advisory needs and have they met your expectations?
Perlis: I had previous experience with Ralph Litolff Jr., one of PRIME’s two business partners, in a difficult business situation where he provided empathetic understanding and was a trusted resource while taking control of and managing the situation. Later, I met Natalie Barranco, Ralph’s business partner at PRIME, in a casual setting, and was very impressed with the conversation that we had regarding PRIME’s capabilities.
After meeting Natalie, our company controller resigned at an inopportune time. I immediately called Natalie. We found ourselves in a tough spot without a controller, and PRIME stepped in to fill an immediate need. PRIME has been great in so many ways. They have shored up our monthly accounting functions, and they’ve given us strategic investigation, guidance and support through some personnel adjustments in our company.
2020 was a tough year for everyone dealing with the pandemic. How has PRIME helped you navigate your business during this time?
Perlis: We began shortly before the pandemic, planning to fill the controller position for Spring of 2020. I feel fortunate to have been their client when the pandemic hit and cannot imagine better or more thorough professional advice and counsel to lean on in navigating through the PPP process, as well as decisions to determine the best course of action to position ourselves to come out in the best possible way when this is over, while also maintaining the culture consistent with our 3rd generation family business and employees.
What is your outlook over the next 12-18 months from a business perspective?
Perlis: I was a little overly optimistic at the beginning of the pandemic and have pivoted to erring on the side of caution as I plan for the next 12-18 months. However, I feel like we must continue to evolve in areas of the company that we know are gaining in importance and as a result of the changes in retail dynamics related to the pandemic situation. Things will never be the same. I feel like we will do better in the future, but we won’t be back to where we were pre-pandemic for some time – maybe two years from now.
If a business is considering a business consultant such as PRIME, what advice would you offer to them? Why should they consider PRIME?
Perlis: When you find yourself in need of some help with your business, or just wanting an outside look into your company, then I recommend PRIME every time. From the beginning, the clear objective was to help evaluate the situation within cost-effective means, with clear communication as to the goals and objectives of our business. Our best interests are shared throughout the process. The sense of partnership was felt from the very beginning. They are cautious in the role they play, with a clear understanding of the cost sensitivities from the business owner’s perspective. That sense of partnership is hard to find, based on my past experiences.