More investors who have been holding on to fashion companies see the getting is good on Wall Street and are looking to follow SpaceX to the moon via their own IPOs.
The latest is Tailored Brands Inc. — parent to Men’s Wearhouse, Jos. A. Bank, Moores and K&G — which filed its registration statement to go public again on Friday. The firm joins Reformation, which is also going to try its hand at the open market.
More from WWD
Tailored Brands, the largest men’s specialty retailer in the U.S., was founded as The Men’s Wearhouse in 1973, but picked up a pile of debt after buying Jos. A. Bank, a key competitor.
The pandemic proved to be too much and the-then public company filed for bankruptcy in August 2020, emerging that December with its former lenders in the driver’s seat.
Since then, Tailored Brands has sought to use the power of its size and its focus on a single category to sharpen its business.
The registration statement, filed with regulators, pointed to research showing that the company sells one in three pieces of tailored apparel and about one in five dress shirts in the U.S. It also has nearly a 60 percent share of the men’s rental market.
Net sales in fiscal 2025 inched up 2.1 percent to $2.5 billion last year as earnings grew by 25.5 percent to $217.2 million.
Details of the offering, including how many shares will be sold and at what price, were left blank, as is typically the case. The company will now make its pitch to big investors to set its initial valuation and, after the offering, those first investors will turn around and feed the shares into the open market.
Tailored Brands said it would use the proceeds from any shares it sells direct to pay down debt and for general corporate purposes.
John Tighe, who joined the company five years age and was elevated to chief executive officer last June, started to sketch out his take on the company and the investment thesis in a letter to prospective shareholders included with the filing.
“Our business is built on genuine human connection: customers feeling welcomed, supported and understood,” he said. “For many men, buying a suit marks a significant milestone, whether it be a prom, graduation, first job, wedding or another defining life event. Every day, customers walk into our stores seeking guidance for these occasions. Helping them feel confident and at their best is at the heart of our culture.”
From that foundation, he sees plenty of room to grow.
“We are successfully introducing our brands to new customers and deepening our relationship with millions of previous customers,” Tighe said. “Our self-funded investments in highly productive new stores, a world-class marketing engine and a deeper presence in the $33 billion polished casual category is just beginning to unlock our full potential.”
Tighe, a menswear veteran whose background included JCPenney and Peerless Clothing, added that since he joined Tailored Brands, the company has “revitalized” its management team with 67 percent of its senior executives joining since 2021.
“Together, we have elevated our assortment, reinvigorated our rental business, optimized our store footprint, and invested in our organization for the long term,” he said.
The goal, according to the prospectus, is to “be the number-one men’s specialty retailer in North America.”
Currently, the flagship Men’s Wearhouse division boasts the number-one position in tailored clothing and formalwear rentals, and is the number-three seller of dress shirts as of the end of fiscal 2025. It operates 637 stores nationwide with sales of $1.6 billion.
Jos. A. Bank has 181 stores and sales of $404 million. It holds the number four position in clothing and number 10 in dress shirts.
Moores, the company’s Canadian division, operates 107 stores in that country and posted sales of $167 million in the last fiscal year. And K&G Fashion Superstore has 81 locations and $352 million in sales.
According to Circana Consumer Apparel Data, men’s apparel generated $76 billion of sales in the United States in 2025 and is projected to grow through 2028, the prospectus said. And according to Circana’s Future of Apparel Data, the men’s tailored clothing market is expected to grow approximately twice as fast as the overall men’s apparel market through 2028.
Tailored and formalwear represented approximately 80 percent of Tailored Brands’ sales in fiscal year 2025, but the company is also “thoughtfully expanding our presence in polished casual” apparel, it said. Overall, private and exclusive brands accounted for approximately 88 percent of sales for fiscal year 2025, up from 70 percent in fiscal year 2022.
In addition, the company said, it sees “a clear opportunity” to expand its store fleet across more than 100 key markets. The plan, the prospectus said, is to potentially add over 500 additional locations over the next 10 years including approximately 250 Men’s Wearhouse locations, 200 Jos. A. Bank locations and 50 K&G locations.
Best of WWD
Sign up for WWD’s Newsletter. For the latest news, follow us on Facebook, Twitter, and Instagram.
