Going For The Gold

Mark Abramoff, president and founder of Ralph Marlin & Co. Inc., created a whole new industry in 1986 when, sitting in a Milwaukee bar, he sketched the world's first fish tie on a napkin. The crazy idea turned into $3 million in fish tie sales that first year and spawned a $15 million worldwide business, not to mention a new industry: conversation-piece neckwear.

Now celebrating the 10th anniversary of his fish tie and his company, Abramoff is seeking to add another million in sales at the wholesale level by producing a line of 30 of the coolest Olympic ties on the market. His bold, beautiful graphic designs include several different lines. One line of classic silk ties features images of historical posters in homage to Olympics past, from the 1920 Summer Games in Antwerp, Belgium, and the 1924 Winter Games in Chamonix, France, to the 1960 Summer Games in Rome. The company also offers American Olympics (silk), American Pride (microfiber polyester) and Atlanta Games (silk) lines. For women, Abramoff produces several lines of Olympic-design scarves.

"The Olympics are one of the highest-profile events in the world," says Abramoff, a sports fanatic who can't wait to see the Games in person. "This is a great opportunity for exposure and for a company like mine to compete with the big guys. We can't compete with them in distribution, but we can outperform them when our products are side by side.

"It's also a chance for us to build equity in our company. When a small company like mine adds a high-profile property like the Olympics, it improves our position in the marketplace."

Adding the Olympic lines is another step in Ralph Marlin's tre-mendous growth (1,500 percent since 1986). The company's other lines cover more than 90 licenses and include all the major U.S. sports leagues; Harley-Davidson; bands such as the Rolling Stones and the Beatles; Hollywood-themed neckwear featuring the likes of Marilyn Monroe, The Three Stooges and more; and an assortment of neckwear related to cartoons, occupations, fine art, hobbies and a dozen other categories. The collections are available at department specialty stores; Ralph Marlin stores in New York City, Minneapolis and Indianapolis; as well as through mail order catalogs, home-shopping channel QVC and the Internet.

Advice:"Make sure you understand all the elements of the Olympic merchandising deal-the amount you put up in advance, who your competition is, how many people are licensed in your category, etc. Find out as much as you can, and get as much out of that as possible."

This article was originally published in the July 1996 print edition of Entrepreneur with the headline: Going For The Gold.