Tom Monaghan, retailer
Grafton Street in 1960 was . . .a beautiful, elegant street full of stylish ladies who would walk down the street on Saturday mornings looking their best. All stores closed at one o'clock back then so many went to the races in Phoenix Park or Leopardstown Racecourse.
I grew up wanting to be . . .a farmer but unfortunately, being the youngest of eight, I headed for Dublin and worked with Todd Byrnes. I spent a lot of time in hospital as a young boy and grew to really like the staff there.
My first famous customer was . . .the American actor Mickey Rooney. We also had lots of Irish actor like Maureen Potter, Dana Winters and, of course, Richard Harris, to mention a few.
Everyday I . . .start my day with the same old routine: mass in Clarendon Street Church, then I have a coffee in Bewleys on Grafton Street, which always leaves me ready for the day ahead.
I think it's important to get to know your customers because . . .small business is all about the personal touch. We have a huge loyal customer base and without that we would not be here today. In addition to our Irish customers we have a strong following from Americans who have been customers for years and now their children are shopping with us. This personal connection keeps you striving and we have introduced new lines for the younger market. This year we introduced a website, monaghanscashmere.ie, and we plan to develop our online offering further.
A busy life keeps you . . .physically and mentally fit which as you get older is key. I am always busy and active.
My passion for horses began . . .at a young age on my father's farm in Galway. Then my son Paul wanted to farm so we both started to breed horse with some success. So my only hobby I acquired turns out to be an expensive one – breeding thoroughbred racehorses.
I'll retire when . . .my legs no longer carry me. I love meeting people and over the last 50 years I have been very lucky to have met really brilliant people in business and that daily interaction is the most important thing to me at this stage of my career. There's not much more I can learn now but the challenge of business is greater than ever before and it's this, more than anything else, that keeps me going and I will continue for as long as God wishes.
People like to feel well-dressed because . . .the confidence one gets for that feel-good factor is priceless and now more than ever people want that special something that looks great and is of high-quality because now that money is tighter we all need to be a little smarter in our buying habits and invest in pieces that will last. We pride ourselves on the quality of our cashmere and we will never compromise on this.
The biggest change in Dublin in my five decades has been . . .the number of large shopping centres that have appeared over the last number of years. In 1960 we had Grafton street, Henry Street and George's Street as the main areas of retail in Dublin, then Stillorgan Shopping Centre opened and now the competition is incredible, with shopping centres like Liffey Valley, Dundrum and Swords Pavilion changing the face of Dublin forever. We need city leaders to assist the city traders in improve this shopping district and bring back the elegance that once was.
My mentor was . . .my wife Teresa. No matter how difficult business was in the beginning, we never considered giving up.
If I could do it again . . .I wouldn't change an iota. I would have married Teresa, had four wonderful children and 12 beautiful grandchildren.
In conversation with Catherine Cleary
Monaghans, Royal Hibernian Way, Dublin 2. monaghanscashmere.ie, 01-6794451
