Generation Tux Invested Heavily In Acquiring Menguin

According to the world clothing shoes and hats net, September 17th, American online.

The leasing company Generation Tux announced that it had completed its acquisition of rival Menguin, with a paction value of 2500 million.

As part of the paction, Menguin's headquarters will move to the location of Generation Tux, Louisville of Kentucky, USA, while CEO Justin Delaney of Menguin will serve as the two.

President.

But the two brands will continue to operate independently.

In addition, Menguin co-founder Bogdan Constantin will be chief marketing officer.

Founded in 2013, Menguin is an online suit and tuxedo rental company. There are 14 different styles and different colors of dresses for rent. There are distribution centers in 6 countries. The total number of tuxedo and Western-style clothes is over 300 thousand.

Over the past three years, Menguin has achieved a compound annual growth rate of 800%. Generation Tux predicts that the sales of Menguin will reach 20 million to 30 million dollars next year.

A notable difference between Generation Tux and Menguin is that Menguin's dress is not for them, while Generation Tux has its own dress inventory.

After the merger, Menguin will be able to use Generation Tux stock dresses to make the costumes available for them more diverse.

The acquisition of Menguin is Generation Tux

Part of the strategy is aimed at enhancing its technological capabilities to be more competitive in the emerging online tailed coat rental industry.

This paction was formally completed in September 5th.

George Zimmer said: "after the acquisition, the sales volume of both companies has increased significantly, and the number of customers is also increasing, which is even better than expected."

Zimmer said that the annual total sales of the dress rental market in the United States is about 1 billion 500 million dollars, but "from the online channel is less than 100 million dollars."

So far, the overall quality of online dress rental is not good, but we have explored a set of effective business models.

At present, Generation Tux's biggest competitor is Black Tux, which opened an exclusive partnership with the US luxury goods department Nordstrom, earlier this year, and opened a showroom in some of Nordstrom's stores.

In 2015, Black Tux completed a $25 million B round of financing.

Online tailed wear and Western style rental platform Generation Tux was founded by 2014 George, founder of Men s Wearhouse, in the year of 2014. It provides various kinds of dress made of high quality wool, leather and silk, and has more than 200 colors and styles.

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