SkillNet customer Tailored Brands goes big on custom suits
In Retail, personalizing the customer experience is a winning digital strategy. A great example is at Tailored Brands – North America’s biggest tailored menswear company and owner of the iconic Men’s Wearhouse and Jos. A. Bank brands.
Custom suit business now counts as one of the fastest growing segments in the company, reaching $100 million in revenue in 2017, and more than doubling from previous year. The penetration is growing fast, and some of the company’s best stores are reportedly already drawing more than half of their sales from custom.
Custom suits business has other benefits. It brings more customers into the stores, lifting overall revenues. Highlighting this, CEO Doug Ewert said during company’s 2017 Q4 earnings call:
“Our research and experience show that men who buy custom suits from us are happier with their purchase, shop more frequently and have a higher annual spend than off-the-rack customers”
Custom also reduces inventory cost in the stores, lifting margins.
Given the potential, Tailored Brands has made custom suits business a big strategic priority. It is raising visibility through marketing and rolling out custom shops within company stores. Last year it announced 3 week deliveries of custom suits, creating further incentive for new customers to try.
The company is also aggressively modernizing the technology, transforming many of the legacy systems into agile, micro-services based modern cloud ready applications.
SkillNet is proud to assist Tailored Brands in this strategic technology initiative.