For the second week in a row the men’s formal wear rental business was top-read news on eWedNews. The story is becoming a case study of cultural changes, arrogance and general lack of leadership that has not only stunted the progress of a business but destroyed it.
A standoff between manufacturers that are not willing to spend dollars promoting new products and buyers that are not willing to place orders for items without a clearly defined advertising budget is expected to heat up in the coming weeks, as new line presentations begin.
The new lines that are expected to break by August 1st and will be shown to major buyers including Jim's Formal Wear. Jim’s, the second biggest buyer behind Men’s Wearhouse, has taken a position to press manufacturers to spend money to support new fashion launches breaking a string of years where they have allocated little or no dollars to promote formal wear rentals or find new ways of attracting consumers.
After reading eWedNews’ coverage of the tuxedo dilemma, Gary Davis, head of Jims said, “We posed the tough questions a month ago to all of our suppliers for this year's buying seminar. The questions relate to just what you talked about in your articles. We asked manufacturers what are (they) doing to promote tuxedoes for next year and going forward. I know WE are continuing to explore and spend in all avenues that can help promote our business and industry, adapting our product mix accordingly.”
Davis disagrees with the idea that tuxedos are dead but he could not contest market surveys that reveal a decline. “I do agree more needs to be done to promote tuxedo rentals and even reinvent them. I also agree the long tie has done more harm than good for our industry,” he told eWN.
Davis’ new mandate is being joined by other larger buyers pledging to pass over items that will not be promoted to the consumer by manufacturers. “We’re talking fashion, not staple items that we need to operate our business; pants, shirts, shoes and other tools are not included in the promotional discussions,” said Ed Honeycutt of Mr. Formal. Honeycutt owns nearly 50 stores in the Oregon, Washington and northern California markets. He has been an industry leader and advocate for these types of changes for decades but is now becoming more vocal in his position.
Ongoing discussions with tuxedo manufacturers seem to feel that their value and worth is somehow above all else, including the promotion of their own products. Some of the most arrogant say they will continue to dominate the marketplace by simply doing business the way they have for decades. The idea directly conflicts with a new study that supports old methods are no longer assured the positive performance and successes they once enjoyed in the past.
“That’s a shame; a real shame it has come down to this,” feels the largest formal wear operation in Hawaii, Ron Bongiovanni. “Ron-Jon” recently bought Selix formal wear in California and has been a growing tuxedo rental operator at a time when most are shrinking. Bongiovanni and countless other smaller buyers say they plan to join the movement and keep a close watch on the progress via eWedNews reports and ongoing discussions with other formal wear buyers.
eWedNews
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2010
Posted on 07/25/2010
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