Case Study

Tailored Brands

Brand Transformation

Challenge

In 2014, the two largest men’s specialty retailers merged – Men’s Wearhouse and Jos. A. Bank. Although the two companies were intended to cater to different consumers at a mass and premium tier, the brands were cannibalizing each other and in decline.

Opportunity

  • Repositon and revitalize the brand
  • Transform consumer and market perception
  • Shift product offering within limited constraints
  • Drive profitable growth

Issues

  • Once a premium brand known for quality and tailoring expertise, Jos. A. Bank became heavily dependent upon deep discounting
  • Brand equity in disaster
  • The brand lost 30% of its value in one year — over $300 million in lost sales
  • Product was undifferentiated¬†within the portfolio and from offerings in mass discounters
  • Old inventory remained in stores for years.¬†Some was 4-5 years old
  • Eroding profitability. In addition to profit loss from discounting, consumers were increasingly shifting from store sales to online sales which diminished profit

Actions

  • Led qualitative and quantitative consumer research including perceptions, barriers, habits, practices and desires
  • Discovered core equity and product offerings that Jos. A. Bank could uniquely deliver at scale
  • Created first brand equity campaign in company’s 117-year history
  • Surfaced rich history virtually unknown to the brand and completely unknown to consumers. Captured hand-craftsmanship story, celebrated vintage US-production plant (the only one in the suit industry), and product quality
  • Developed comprehensive marketing plan. Led execution
  • Led field training for employees of 700+ stores nationwide

Results

  • Transformed company from declining sales with high customer attrition to record-setting results:
  • Acquisition (+11%)
  • Sales (+5%)
  • Drove the company’s first profitable quarter since 2014
  • Facilitated profitable growth every quarter thereafter despite -20% reduction in
    YOY marketing budget