Leadership in Action: Clothiers Murry and Karen Penner Celebrate Family Business’ 50-Year Anny
Murry & Karen Penner, Owners, M PENNER
How did you get where you are today? We’ve stayed true to the vision of the store’s founder, Morris Penner, who relentlessly sought out unique product, with exceptional quality being a key element. Morris always used to say, “The fastest way to lose a customer is to bore him” and we agree. A percentage of every season’s budget is allocated to something new and unique. While product is key, it’s not enough. Having an excellent staff and discipline in business practices is also critical.
Whom do you credit? MP: I guess I could say that retail is in my blood. My grandfathers on both sides owned men’s clothing stores and my dad opened M PENNER in 1974, so a great deal of credit goes to them. Dad had incredible vision and created a unique niche in Houston’s menswear landscape in the mid 1970’s by focusing on European fashion brands and styles. He quickly became known as a maverick in the industry, bucking the predominantly “American brand trend” of the time. A great deal of credit also goes to the people who work with us, from the sales team to the tailor shop. I also credit Karen and my son, Jeremy, whose dedication keeps us grounded and focused.
What is it like running a family-owned business? Chaos. But seriously, through ups and downs, for us, it’s the best of the best. We get to set the tone and define the culture of the business. Our employees are our family and we treat our clients like family, too. There is a noticeable warmth that permeates the atmosphere at M PENNER and we love that. When you run a family owned business, the bottom line is clear - the buck stops with us.
What lessons have you learned that might enlighten and inspire others? While running a family business certainly can be chaotic, the truth is that it is also very gratifying. And that’s because we have learned a few important lessons. Have clearly defined roles and be clear about who makes the final decision. Find your niche in the market and stay in your lane. Clarify your goals and refer to them repeatedly to stay on track. Hire great people; trust them and let them shine. Stash the cash - in our 50-year history, there have been great years and there have been tough years. Keep enough money in the bank to help get through the tough years. Pay attention to the details. Don’t sweat the small stuff.
What is your biggest accomplishment? MP: It goes backwards and it goes forwards - being in business for 50 years and carrying on the legacy of my dad’s vision and now working with my son in the store. Being known in the men’s specialty store industry as one of the best stores in the country is extremely gratifying. We can’t wait to celebrate our 50th in December!