JoS. A. Bank Expands Into Tuxedo Rentals

JoS. A. Bank Clothiers Inc. (Hampstead, Md.) has announced plans to enter the tuxedo rental business. The menswear retailer plans to launch the initiative this month on a test basis in about 25 of its stores, followed by a rollout to more than half of its 474 locales this spring.

“Although we are a national leader in the sales of tuxedos, we have not offered the specific formalwear products and services that are most commonly used by wedding parties and these products complete our formal assortment,” said R. Neal Black, the retailer’s president and ceo. “We are continually looking for ways to expand sales and offer our customers one-stop shopping. There are very few national companies in this business and with over 4.9 million customers in our database, this business offers a significant opportunity for the company.

JoS. A. Banks has partnered with a national distributor who will own the inventory and deliver the orders to its stores. That setup reduces the required investment and risk associated with starting the operation, the company said.