The Business Reporter

Vineyard Vines Owners at GU

By Joe Coronato

MAY 2008

“As you can probably tell we don’t take ourselves too seriously,” the words of Shep  Murray do not fit the stereotype of a $60 million business owner, nor a lecturer at the prestigious Georgetown University. Along with his brother Ian, co- founder of the Vineyard Vines Clothing Company, the two sat casually in a Georgetown lecture hall looking as though they were about to go boating, and yes they were wearing flip flops. The brothers’ visit to Georgetown University parallels the opening of their new store near the corner of M Street and Wisconsin Avenue. The duo has partnered with the Mitchell family, owners of luxury stores Mitchells, Richards and Marshs, to open their seventh store in a 6,000 square foot historic townhouse.

“We pride ourselves in local motion and compassion,” Shep says. “That’s why we think so many politicians and high profile people wear our ties and clothing,” he added. The crowd of about a hundred students and others, listened intently as the Murray brothers spoke on their success as entrepreneurs in the business world.

In 1998 the brothers started their clothing line, Vineyard Vines, on Martha’s Vineyard. The two left their corporate jobs in New York City to pursue a more casual lifestyle, inspired by spending summers at Martha’s Vineyard growing up. Neither had experience in the fashion industry nor substantial start up money. “All we had was an idea, to sell neckties displaying the lifestyle we grew up cherishing,” said Ian. In a few short years that idea has grown from 40 thousand dollars of credit card debt to an established clothing business that netted $60 million in 2006. Vineyard Vines sells more than just neckties these days. The small company has been transformed into an all out lifestyle brand along side the likes of Lilly Pulitzer, Lacoste, and Brooks Bros. 

“Everyone asks us what our long term plans are or what our business strategy is,” said Ian, but what makes the duo so unique is exactly that “We have fun, as soon as we stop having fun and making our customers happy that’s when we’ll sell the business and move on” said Shep. The brothers along with Georgetown student Taylor Price spoke for about an hour and a half in a laid-back tone, completely fitting for their lifestyle. A lifestyle they believe is embraced by the people living in Georgetown.

The Buzz

Word is that THE GAP store on Wisconsin Avenue, the BIG GAP store on Wisconsin Avenue, next to Billy Martin’s, will be closing in October. This is the largest commercial space in town. It used to be a Union hospital during the Civil War. Abrham Lincoln used to visit the wounded trooops here.

We’ve heard through the grapevine that the Blue Bus contract is up this coming September and that our Business Improvement District may not continue the service. Has anyone else heard anything to that effect?

We talked to Doug Smith, communications manager for Georgetown’s BID and asked him directly about the status of our Blue Busses. He told us: The name of the company that runs the Blue Busses for BID is Velapios? BID’s arrangment with this company is: The contract with Velapios is up?

We also wanted to know how much is budgeted for streetcleaning in Georgetown? How many streetcleaners are there?

The old Georgetown Pharmacy remains empty. Here’s an idea. Why doesn’t our Georgetown Business Association get a hold of a pharmaceutical company and convince them to open a old time drugstore museum, with a working pharmacy.

- The Tackle Box, located on M Street is one of the newest restaurants to hit DC. Being the sister restaurant of Hook, Tackle Box has a much more causal dining atmosphere consisting of a New England flare. With its common room setting and straight forward menu, it is sure to become Georgetown’s new favorite hangout! So whether you are eating in or carrying out, be safe in knowing that Tackle Box carries the values of Hook as being eco-friendly, always fresh and having great tasting food!

Tackle Box 3245 M Street NW Washington DC 20007 www.tacklebox-dc.com