HOUSTON, Aug. 13 /PRNewswire-FirstCall/ -- Men's Wearhouse (NYSE: MW) today announced the creation of Men's Wearhouse Global Corporate Apparel and Workwear Group and corresponding management teams in Europe and North America.
As reported on August 6, 2010, Men's Wearhouse formed a UK holding company and acquired Dimensions Clothing Limited ("Dimensions") and certain assets of Alexandra, plc, two leading providers of corporate clothing uniforms and workwear in the United Kingdom. The UK Group will be a significant platform for growth opportunities in Europe and joins the Company's North American Group, which includes TwinHill.
George Zimmer, Men's Wearhouse Founder, Chairman and Chief Executive Officer, stated, "We have greatly enhanced our corporate apparel and workwear programs with our UK acquisitions and the appointment of a group of seasoned executives.
"We are very pleased to have retained Dimension's and members of Alexandra's seasoned management team as a part of the recent acquisitions. We believe this group of executives can execute our long term strategic vision. The Board of Directors of our UK operations have named industry veteran, Stuart Graham, as Executive Chairman of our European Group," added Zimmer. "Stuart will focus on growth initiatives and international strategy, and work with Simon Hughes, our UK Group Chief Executive Officer, and Tim Gifford, Chief Executive Officer of Alexandra. In North America, we have named Edward Doran as Group President. Ed has tremendous credentials, having run the Imagewear Coalition at VF Corporation which had sales of approximately $1 billion. His focus will be business strategy and operations including opportunities to enhance internal and external growth in North America, including TwinHill, which is run by President Howard Wecksler."
Global Corporate Apparel and Workwear Group -- Management Profiles
Stuart Graham, Executive Chairman, EUROPEAN GROUP
Stuart Graham is currently a Senior Advisor to a leading European Private Equity House since 2007. He was also a Member of the European Advisory Board at OPI Global from 2007 to 2009. Additionally, Graham was Chairman at GSH plc, a facilities management company with operations in Europe and the US from 2007 to 2008. Prior to that, Graham was Group Chief Executive at Johnson Service Group plc, a UK service business focused on textile rental, retail dry cleaning and laundry from 2002 to 2006. From 1990 to 2002, Stuart was in various international management positions at ISS, a euro 5 billion revenue global facility services provider based in Denmark, lastly as Group Chief Operating Officer from 1999 to 2002.
Edward Doran, Group President, NORTH AMERICA GROUP
With over three decades of apparel and brand management experience, Ed Doran joins Men's Wearhouse most recently from VF Corporation, where he was the President, VF Imagewear Coalition. At VF Corporation, he was responsible for approximately $1 billion of revenue that included license sports and branded occupational apparel. Within 5 years, he grew the Imagewear Coalition business to approximately $1 billion in sales from $728 million. At Men's Wearhouse, Doran will oversee all North American operations, acquisitions and strategy.
Simon Hughes, Chief Executive Officer, UK GROUP
Prior to joining the Men's Wearhouse, Hughes was Chief Executive Officer of Dimensions Clothing Limited. During his 17 year career with Dimensions, Hughes grew sales at a compound annual growth rate in excess of 20% through both organic efforts and acquisitions. Prior to Dimensions, he was with Sketchley for 5 years as a General Manager and prior to that with Hanson Trust as a Manufacturing Manager.
Tim Gifford, Chief Executive Officer, Alexandra
Prior to joining the Men's Wearhouse, Gifford was Chief Executive Officer of Alexandra, plc. Gifford developed much of his career within W.L. Gore & Associates from 1985 to 2006, where his most recent roles included Business Leader of Consumer Products – Europe; he also led Strategic Business Development – Asia/Pacific. Subsequently, Gifford was Director of Sales and Marketing for Cosalt BallyClare Ltd. (part of Cosalt, plc) and then as a consultant for companies both within and outside of the workwear sector.
Howard Wecksler, President, TwinHill
Wecksler has over 30 years experience in the corporate apparel and workwear industry in sales, finance, manufacturing, administration and systems. He joined the TwinHill division of Men's Wearhouse in May 2003 as Vice President of Sales and Marketing and was named President in August 2003. Prior to TwinHill, Wecksler was Vice President, Uniform Group for Lions Apparel, a manufacturer and distributor of fashion oriented career apparel to a variety of Fortune 500 companies, from 2000 to 2003. From 1992 to 2000, he was President of All-Bilt Corp, a division of Fechheimer Bros. Co, a uniform manufacturer specializing in the production and distribution of public safety uniforms.
"In summary, our new Global Corporate Apparel and Workwear Group is an exciting growth opportunity for Men's Wearhouse. Our expanded management's new energy and ability to motivate our corporate apparel teams will spark them to continue to provide the highest level of customer service and product quality. We believe we now have the people, the products and the platforms to serve our corporate uniform and workwear markets," concluded Zimmer.
Analyst Day & Webcast Information
Men's Wearhouse is holding its 2010 Corporate Apparel Analyst Day in New York City on Tuesday, August 17, 2010, and is by invitation only. Please contact Ken Dennard at DRG&E for more details at (713) 529-6600 or at firstname.lastname@example.org.
Additionally, the Company is hosting a webcast on August 17, 2010, at 10:30 a.m. EDT to review the transactions. To access the live webcast, visit the Investor Relations section of the company's website at www.menswearhouse.com. A webcast archive will be available free on the website for approximately 90 days.
Founded in 1973, Men's Wearhouse is one of North America's largest specialty retailers of men's apparel with 1,239 stores. The Men's Wearhouse, Moores and K&G stores carry a full selection of designer, brand name and private label suits, sport coats, furnishings and accessories and Men's Wearhouse and Tux stores carry a limited selection. Tuxedo rentals are available in the Men's Wearhouse, Moores and Men's Wearhouse and Tux stores.
This press release contains forward-looking information. The forward-looking statements are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be significantly impacted by various factors, including sensitivity to economic conditions and consumer confidence, possibility of limited ability to expand Men's Wearhouse stores, possibility that certain of our expansion strategies may present greater risks, changes in foreign currency rates and other factors described in the Company's annual report on Form 10-K for the fiscal year ended January 30, 2010, Form 10-Q for the quarter ended May 1, 2010 and Form 8-K dated August 10, 2010.
CONTACT: Neill Davis, EVP & CFO, Men's Wearhouse (281) 776-7000 Ken Dennard, DRG&E (713) 529-6600
SOURCE Men's Wearhouse
Released August 13, 2010