1973–2016: Men's Wearhouse
Tailored Brands' predecessor, Men's Wearhouse, was founded in 1973 by George Zimmer as a retail men's clothing store. The business had grown to 100 stores by the time it held an IPO in 1992, raising $13M.[8] Zimmer turned Men's Wearhouse into an industry consolidator, acquiring numerous competitors throughout his tenure leading the firm. In 1997, it purchased, then liquidated, the bankrupt Kuppenheimer chain.[9]
Men's Wearhouse notably ran television and radio commercials featuring Zimmer, and the oft-repeated slogan, "You're going to like the way you look; I guarantee it."[10] According to Business Week, Men's Wearhouse targets the common man, with "the neatly displayed clothes in Zimmer's stores [being] designed to cater to the unpretentious guy who wants to do as little as possible to maintain his wardrobe."[11]
On November 17, 2006, Men's Wearhouse acquired After Hours Formalwear, a clothier specializing in black tie formalwear, from Federated Department Stores, the parent company of department store company Macy's. After Hours Formalwear was originally rebranded MW Tux, but has now been rolled up under the Men's Wearhouse brand. The formalwear group within Men's Wearhouse specializes in tuxedo rentals for men and boys for black tie events.
In 2009, Men's Wearhouse became a major sponsor of the United Football League and continued to sponsor the league in 2010. In that same year, the company acquired the trade and assets of Alexandra plc, which was in administration and Dimensions Corporatewear to develop its presence in Europe.
On June 19, 2013, the company dismissed founder and Executive Chairman George Zimmer for undisclosed reasons.[12] The company later stated that Zimmer was dismissed due to "difficulty accepting the fact that Men's Wearhouse is a public company with an independent board of directors and that he has not been the chief executive officer for two years. He advocated for significant changes that would enable him to regain control."[13]
2013–2014: Acquisition of Jos. A. Bank
In October 2013, Men's Wearhouse received a $2.4 billion acquisition offer from smaller rival Jos. A. Bank.[14] Men's Wearhouse countered with an offer of its own, which sparked a five-month takeover battle between the two menswear retailers. After Jos. A. Bank rejected the initial counteroffer, Men's Wearhouse announced that it would increase its all-cash bid if Jos. A. Bank revealed limited financial information and entered into negotiations.[15] In an attempt to dilute shares and become too large for Men's Wearhouse to purchase, Jos. A. Bank agreed to acquire the men's outdoor clothing company Eddie Bauer for $825 million.[16] Men's Wearhouse immediately responded by filing a lawsuit to block the proposed acquisition, which was expedited by Delaware Judge J. Travis Laster."[17] The lawsuit required Jos. A. Bank to disclose documents relating to the deal and prevented it from closing the deal without giving Men's Wearhouse 10 days' notice.
