|
HMX Tailored is the largest premier tailored clothing manufacturer and marketer in the
United States.
HMX Tailored recently initiated sweeping changes, including repositioning its
brands and making major marketing and operational adjustments to meet the
dynamics of the changing retail market. Over the past two years, the
department store channel has undergone significant consolidation, fueling
changes to established retail distribution channels and making many mid-market
brands redundant. We responded to these issues by working to narrow our
brand portfolio, reduce inventories and lower operating expenses. We also
eliminated several designer programs.
As a result, we have refined our offering of brands.
We are also developing new marketing and merchandising programs geared to
enhance our growth in other select distribution channels. For example, in
the moderate area, we are working to build sales with Concepts at JCPenney and
Axcess at Kohl's. Both of these programs offer consumers sophisticated,
high-fashion products that represent great value-for-money. We are also
remerchandising our Palm Beach label, which currently holds a strong position in
the "big and tall" market, with the goal of recapturing this brand's historic
prominence.
|