IFA Launches Industry’s Definitive E-News Source

Since 1973, the International Formalwear Association — the trade association serving the needs of the men’s formalwear industry — has represented more than 1,500 formalwear companies and stores, specialists, wholesalers and manufacturers. IFA has served as your advocate by providing a wide variety of programs, services and activities to help you excel. As part of our continuing leadership, we are proud to launch Formal Times, a subscription-based e-newsletter that will be the definitive source of unbiased, up-to-the-minute news and information for well-informed industry professionals. The content you find in Formal Times will be unique and not found anywhere else—and only available to subscribers. In each concise, easy-to-read biweekly issue we will report the facts, present the statistics and provide the analysis to help you gain—and keep—your competitive edge in today’s formalwear environment. Turn to us for the latest in manufacturers’ news, joint ventures, mergers and acquisitions, hot products and fashion developments. In addition to timely news and interviews, Formal Times will be the place to read about trends and gain useful demographic information on such economically impactful issues as weddings and proms. Count on us for numerous how-to-articles on such topics as boosting sales, improving training, leveraging bridal shows and scheduling for profit. We will also bring you upbeat features about exceptional operators and vendors across the country, with tips that you can use to accelerate your own business. Formal Times will also be a forum for communications with specialists across the country on such time-and money-saving matters as specials and over-stocks. Additionally, we will talk to top executives throughout the industry to gain their perspectives on the industry in general and IFA’s role in particular. And, because business is increasingly global, we’ll check in with our international partners to see what works in their corner of the planet. Everyone at IFA hopes that Formal Times will become a welcome addition to your “required reading.” Over the next two months, we will introduce you—at no charge—to our words and pictures, so you can join in the excitement of a resource designed just for you. As we have for 33 years, we are proud to support this industry with an informative, well-designed resource that we believe you will find invaluable in today’s fast-paced world. Let us know what you think—and what you’d like to see in future issues. We welcome your comments. Click here to send us your comments.

July Heats Up With Two Newly Formed Entities

Summer 2006 may well be remembered as a season of new beginnings—not one, but two announced for July 1. Formal 1 and Lord West are finalizing a joint venture which will be called FLOW Formal Alliance, LLC, to produce and market formalwear and accessories under an assortment of labeled and private labeled offerings. Similarly, Mel Howard Accessories Corporation and Elite Formal Designs have merged to form BlackGold International, LLC, doing business as Mel Howard Elite (MHE). Doug Black, formerly VP of Mel Howard, will head the new company as CEO and Jon Goldman, formerly Managing Director of Elite, will continue that role with BlackGold. They spoke exclusively to Formal Times about how the move will help position them as long-term players in the market. The executives say that mutual respect between the two companies and a shared vision of how to enhance their competitive edge amid continuing industry change (i.e., the continued pressure of big box operators) was the driving forces behind the partnership. Adds Black, “Synergy is loosely thrown around, but as a general business strategy the term may be better applied here than in most others cases.” The merger optimizes the advantages of both companies yielding greater choices for customers and prospects. The 24-year old Mel Howard firm has traditionally been the largest domestic supplier of accessories in the industry. Its strengths? According to Black, “Rock of Gibraltar” customer service, solid production techniques, consistency and quality control, along with fashion-forward design. Elite, says Goldman, brings a multitude of marketing and merchandising options, design capabilities, diversification amongst product categories and international manufacturing in the Dominican Republic. Additionally, Elite has the exclusive rights to the Jean Yves line, which the new company will continue to offer. In terms of merging the assets of these companies, Black says they are not “doing addition by subtraction.” Goldman says they plan to leverage manufacturing in New York, enhance operations in the Dominican Republic and scale down Florida “a bit.” Best practices will be shared and customer service will remain intact. Says Black of the new entity, “We will have a tremendous competitive advantage. There is quality on both sides of the equation.” As in any merger, the transition occurs in stages. Both men agree that stage one, the combining of the sales and marketing efforts, is going “fabulously well.” “The way we put this together was like a jigsaw puzzle,” Goldman says. “Where he had coverage, we didn’t. We have more products, more market share and the same expenses and travel budgets. The sales force is happy.” Over the next three to six months of integration, the men will focus on getting ready for the shipping season and synchronizing manufacturing at all three facilities. According to both men, their current clients have welcomed the announcement. “Once they hear about it, it makes sense,” says Goldman. “On paper it is a very wise move, but the reality is up to us.” In the short term, products can be ordered from either company and it’s business as usual for their customers. Says Goldman of the moniker BlackGold, a combination of their last names, “That’s what tuxedos are to us. After all these years, two most creative house in accessories, are getting together and everyone will benefit greatly with better fashion, better service, better value.” Noel Feldman is leading the executive team at FLOW Formal Alliance. He spoke to Formal Times about the new company, which, he says, takes the best assets of Formal 1 (which entered formalwear in the mid 1990s) and Lord West (founded in 1917) to create a brand new company with equal ownership between the original owner families of each company, the Weintraubs and Westreichs, respectively. According to Feldman, FLOW will offer customers, “Merchandise that you would expect to see in a specialty clothing store but with the durability to work within the rental industry.” Feldman says there’s no “old baggage” in the new company; rather, “We are only bringing the good things. We leave behind bad receivables and we start new with only the viable things. We get each other’s strengths: maybe a computer system or reporting system or sources.” He adds that the combined sales forces will provide customers with better service and will, he believes, pay off in additional sales. FLOW will also benefit from global manufacturing. “We are not locked into any place. FLOW will have the ability to improve production techniques and delivery capability.” AT EXPO25, FLOW will debut its new formalwear lines under three differentiated labels: Calvin Klein, Lauren Ralph Lauren and Chaps. Feldman promises it will not be “The same old, same old. It’s important that we be fashionable or young people will be turned off. They don’t want to look like their father; they want different things.” Customers, in turn, will reap the benefits. “They will get the finest piece goods made in the best way possible. And they will be able to rent them because customers will want them—and they will get top dollar.” As Feldman says, there is strength in numbers. “The two companies complement each other in many ways,” he says. “The families are extremely comfortable with each and we thought we could make a marriage work—and we did.” For comments, remarks and rebuttals go to Tuxedo Talk Forum.

Winning The Customer Centricity Challenge

To compete today, retailers must learn to dazzle their customers with a top-notch buying experience. This means moving beyond low prices and endless sales promotions. We know that customers who received increased service levels become loyal, repetitive clients. As a result, all retailers are feeling the pressure to provide enhanced customer-centric services to their customers. The International Formalwear Association is offering a one-hour FREE online event hosted by STORES Magazine and IBM on Wednesday, June 21, at noon EST. This complimentary one-hour interactive web cast seminar will show how midsize retailers can enhance their customer’s shopping experience by giving top-notch service. Featuring Gregory Belkin with The Aberdeen Group, Steve Jackson with Harry Rosen, and Gail Stremlo with IBM, the web cast will reveal how mid-size retailers are successfully addressing the challenge of customer centricity. Join us to learn: Strategies for winning the customer centricity challenge How to extend your points of service using technology Steps you can take to improve customer centricity. Speakers: Gregory Belkin Research Analyst The Aberdeen Group Steve Jackson CIO Harry Rosen Gail Stremlo Retail Industry Segment Executive IBM Moderator: Rick Gallagher Publisher STORES Magazine When: Wednesday, June 21, 2006 at Noon Eastern/9:00 a.m. Pacific Duration: One hour, including Q & A session Where: In your office on the Internet Who Should Attend: Retail executives and managers focused on improving and enhancing the customer experience How to Register: Click on to register “Winning the Customer Centricity Challenge” online webcast event. For More Information: Contact IFA at (312) 321-5139