Dive Brief:
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The $1.8 billion buyout of Jos. A. Bank by Men’s Wearhouse forms a company behind only Macy’s, Kohl’s, and J.C. Penney in menswear sales volume, reports the New York Times.
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Men’s Wearhouse has more of a high-fashion style, while Jos. A. Bank is more conservative, not quite as high quality, and is constantly putting its suits on sale--something harshly lampooned on Saturday Night Live last week.
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On a bright note, a fashion reporter at the New York Times recently found stellar customer service at both places.
Dive Insight:
With the on-again, off-again merger talks now on and over, the two now-siblings must figure out what’s next. Younger shoppers are buying more, though the classics still reign. Department stores and specialty retailers are keeping a keen eye on the sector; even Lululemon is increasing its offerings for men. Now that the drama is over between Men’s Wearhouse and Jos. A. Bank, they must get to work to compete.
