The Baker Retailing Center had the pleasure of having Lawrence Berger, Co-founder and Partner at Ames Watson, as part of our Executive Speaker Series. Lawrence Berger leads Ames Watson, a holding company with over $2 billion in revenue, with investments across retail and consumer brands. He is also Chairman of FanzzLids Holdings, the parent company of Lids, the leading North American retailer specializing in licensed sports headwear and apparel, with over 1,500 stores.
Through Ames Watson, Berger has overseen investments in Champion’s Teamwear, a custom team apparel division; Mitchell & Ness, a heritage sportswear brand known for premium throwback jerseys; and collaborations with designer Eric Emanuel, expanding into streetwear and lifestyle branding.
Previously, he was Managing Director and Chief Investment Officer at Blackstreet Capital, leading over 25 acquisitions, and has held roles at The Washington Post Company and BCG. A Wharton alum (W94, WG00), he brings deep expertise in brand growth, acquisitions, and strategic investment in retail.
INSIGHT FROM LAWRENCE
At the end of his talk, he left students preparing to step into the professional world with a candid perspective on the early years of a career. “As an undergrad, when you graduate, part of your first job is learning how to brush your teeth and go to work,” he said, emphasizing the fundamental transition from student life to professional responsibility. But beyond adjusting to daily routines, Berger highlighted a crucial skill that transcends industries: financial literacy. No matter the career path, whether in marketing, logistics, or leadership, understanding financial statements is invaluable. He reflected on his own experience, admitting that while he excelled academically, true comprehension only came when he applied financial knowledge in real-world scenarios.
For MBA graduates, he highlighted the small window of opportunity to take risks before personal and financial commitments make bold career moves more difficult. “Life’s too short,” he remarked, urging graduates to pursue something meaningful rather than defaulting to conventional career paths like consulting.
Berger also framed career choices through two distinct lenses: transactional vs. operational roles. Those drawn to building and leading businesses should immerse themselves in operations early on, while those interested in investments and deals should gain hands-on experience in transactional work. He spoke from personal experience, noting that trial and failure were essential to his own success.
The key takeaway? Early in your career, the best thing you can do is immerse yourself in different experiences, embrace challenges, and develop a clear sense of whether you want to run a business or invest in them. By taking the time to explore, fail, and learn, young professionals set the foundation for long-term success.
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