Macy’s Signs License Agreement With Men’s Wearhouse For In-Store Tuxedo Rental Shops
Tuxedo rentals to be integrated into Macy’s comprehensive wedding and special occasion capability
Macy’s, Inc. announced that it has signed an agreement with Men’s Wearhouse to open licensed tuxedo rental shops within 300 Macy’s stores nationwide.
These Macy’s-branded shops will be operated by Men’s Wearhouse and staffed by its trained formalwear professionals in dedicated space located in or near the men’s department in Macy’s stores. They will be fully integrated in Macy’s storewide wedding experience, and support Millennial merchandising strategies related to proms and other special occasions.
“Macy’s is better able than any other retailer to assist customers with a broad range of needs related to special occasions, and especially wedding couples, their families and friends at this significant milestone period in life. Macy’s and Men’s Wearhouse will work together to provide additional convenience and simplicity for our customers while offering the latest trends in rental tuxedos, including prestige designer brands and some styles exclusive to Macy’s. The customer shopping experience will be enhanced by Men’s Wearhouse’s specialized and expert service,” said Tim Baxter, Macy’s chief merchandising officer. “We see weddings and special occasions as strategic growth opportunities for Macy’s. We are already well known for our wedding and gift registry, and we continue to build our business in engagement and wedding rings, wedding party suits and dresses, shoes, accessories, fashion jewelry, gifts and other categories. Tuxedo rental is the next element in building Macy’s special occasion capability.”
Plans call for the first 17 Macy’s Tuxedo Shops to open in fall 2015 in the New Jersey, San Francisco and Houston markets, with a rollout to 300 stores by fall 2016. Macy’s and Men’s Wearhouse also will collaborate to develop a digital tuxedo rental shop on macys.com.
Macy’s Tuxedo Shops will be backed by the Men’s Wearhouse reservation and group management system that allows customers to easily make and manage reservations and track the status of rentals by others in a wedding party.
Men’s Wearhouse will be the exclusive provider of tuxedo rentals to Macy’s, although Macy’s will continue to sell tuxedos from its own men’s assortment.
About Men’s Wearhouse
Founded in 1973, Men’s Wearhouse is one of North America’s largest specialty retailers of men’s apparel with 1,758 stores. The Men’s Wearhouse, Jos. A. Bank, Moores and K&G stores carry a full selection of suits, sport coats, furnishings and accessories in exclusive and non-exclusive merchandise brands and Men’s Wearhouse and Tux stores carry a limited selection. Most K&G stores carry a full selection of women’s apparel. Tuxedo rentals are available in the Men’s Wearhouse, Jos. A. Bank, Moores and Men’s Wearhouse and Tux stores. Additionally, Men’s Wearhouse operates a global corporate apparel and workwear group consisting of Twin Hill in the United States and Dimensions, Alexandra and Yaffy in the United Kingdom.
Macy’s, Inc., with corporate offices in Cincinnati and New York, is one of the nation’s premier retailers, with fiscal 2014 sales of $28.105 billion. The company operates about 885 stores in 45 states, the District of Columbia, Guam and Puerto Rico under the names of Macy’s, Bloomingdale’s, Bloomingdale’s Outlet and Bluemercury, as well as the macys.com, bloomingdales.com and bluemercury.com websites. Bloomingdale’s in Dubai is operated by Al Tayer Group LLC under a license agreement.
All statements in this press release that are not statements of historical fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based upon the current beliefs and expectations of Macy’s management and are subject to significant risks and uncertainties. Actual results could differ materially from those expressed in or implied by the forward-looking statements contained in this release because of a variety of factors, including conditions to, or changes in the timing of, proposed transactions, prevailing interest rates and non-recurring charges, competitive pressures from specialty stores, general merchandise stores, off-price and discount stores, manufacturers’ outlets, the Internet, mail-order catalogs and television shopping and general consumer spending levels, including the impact of the availability and level of consumer debt, the effect of weather and other factors identified in documents filed by the company with the Securities and Exchange Commission.
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