Doug Ewert, Men's Wearhouse's president and chief executive officer, pointed to AlixPartners' "vast experience in retail as well as in large merger integration situations" as key to the hire. Ewert said the advisory firm "will provide significant support to our company's goal of achieving an estimated $100 to $150 million of annual run-rate synergies over three years through improving purchasing efficiencies, optimizing customer service and marketing practices and streamlining duplicative corporate functions."
Ewert reiterated that the combination of the two specialty retailers will create the country's fourth largest men's apparel retailer with pro forma sales of about $3.5 billion. The stores will continue to operate as separate nameplates and the company will retain what it considers the best talent and practices from both firms.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)