Name: Need a Tux? This Tech Startup's Got You Covered
Uploaded: 2015-12-18
Duration: 2 min 59 s
Description: The former CEO of Men's Wearhouse has a new company.

Need a Tux? This Tech Startup's Got You Covered

The former CEO of Men's Wearhouse has a new company.

mhm two companies this year. Most people don't do one in a year, but let's start with the first one generation talks. I'm guessing this is what you are wearing today. So tell us about it. Well, it's very simple. It's online tuxedo rental. In my earlier incarnation, I had rolled up the tuxedo rental business in bricks and mortar stores. Now I'm trying to do it online. There's a couple other companies doing this as well or trying to go after this market. So what makes you different or what makes you? Why would this be a success? Well, to begin with, none of the other companies have an iconic spokesperson and founder like myself. The second thing and this is really of more significance for customers is our fabrics are the finest fabrics in the rental industry. These are Super one forties wool, and they're very luxurious. And the tuxedo tuxedo business you've said tuxedo rentals are actually very profitable. You've referred to them as Microsoft profitable. Why are they so profitable in general? Well, because, uh, the cost of a tuxedo is then advertised over 20 renting so that it works that way and you're not turning a profit yet, But how far away do you think you are? From that point, we're hoping to be profitable by 2017. Marc Benioff is a friend of yours and an investor in the company. You launched it at Dream for salesforce dot com. Big event? Why the connection there? And is tech a big part of your differentiation? Well, uh, this is a technology company, to be sure, but it's really combining technology with my own domain expertise in tuxedos and in men's clothing. Marked, by the way, is not an investment. Sorry about this company. His company. Okay, that's important to clarify that. How are you getting the word out about this? Mostly through PR and social media. But we're also planning New Year's Eve here in New York at times where I'm going to be marrying the first couple for 2016 in front of a million people. Good exposure. So you're not doing your not the face of the television advertising campaign as you were with men's warehouse. But you're using more social media and PR to market this time around. Exactly. Okay, Now tell me about the other company you founded This year's E tailers, which has been billed as the uber of Taylor's. My understanding is that has taken a bit longer to get off the ground. Why is that? Well, I don't know that it's taken a bit longer. It's really a sister company. First of all to generation talks. It's a separate corporate entity, but it's its raison d tre is so that when brides are considering using generation talks for their weddings, uh, they always have the same question. Well, how are you going to get it to fit? And that's what Z Taylor's does.