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The company was founded by Charles Foster Hathaway.Its early history is unclear. Though often described as starting in 1837, there is little evidence of this date. It is well-documented that in 1848 Hathaway built a shirt factory with Josiah Tillson in Watertown, Massachusetts, his share of which he sold to Tillson for $900 on March 31, 1853.
Tailored Brands' predecessor, Men's Wearhouse, was founded in 1973 by George Zimmer as a retail men's clothing store. The business had grown to 100 stores by the time it held an IPO in 1992, raising $13M. [6] Zimmer turned Men's Wearhouse into an industry consolidator, acquiring numerous competitors throughout his tenure leading the firm.
Hart Schaffner Marx's origins date to 1872 when brothers Harry and Max Hart opened a small men's clothing store on Chicago's State Street called "The Great Globe One-Price Clothier," with proprietors advertised as Harry Hart & Bro. [2] [3] In 1879, the Harts' brothers-in-law, Levi Abt and Marcus Marx, joined the partnership, which was then renamed Hart, Abt & Marx. [4]
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As such, they are often end-of-line, surplus, returned, or bankrupt. A company will often pursue a non-profit-making agenda when clearing stock, seeking a wider strategic advantage. This can be in the form of releasing storage space, releasing supervision of materials and equipment, ending technical support for a product.
The company also operated a store at Times Square. That outlet, which opened in 1940, was dubbed "the cathedral of clothing". [8] The store closed in 1977. [9] Starting in 1980, the building was a dance club called Bond International Casino, notable for hosting a concert by The Clash in 1981.
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