Masters of Reinvention

But Sacher’s luck didn’t hold. He lost considerable business to Latin American factories. On top of that, the department store world was in turmoil. Many went bankrupt, and suppliers were stiffed. Fortunately, Sacher and his father-in-law had the foresight to invest in receivables insurance. But it became clear that they had to do something similar with dress shirts, but with a lower risk factor.