Gingiss to Sell Formalwear Shops to May
May Department Stores Co. will purchase 125 formalwear stores from the Gingiss Group, the companies said Monday.
The stores include Gingiss Formalwear and Gary’s Tux Shop outlets, along with two Gingiss Group service centers in Addison, Ill., and Van Nuys.
The acquisition continues May’s expansion of its bridal group.
Terms of the deal were not announced.
“The links between our bridal group businesses and our department stores’ wedding registries are critical to our strategy of attracting young-adult customers to our department stores and especially to our home stores,” said Gene Kahn, May’s chairman and chief executive.
The deal brings to 225 the number of tuxedo stores acquired by St. Louis-based May in 2003.
The company also has opened 30 David’s Bridal stores and nine After Hours Formalwear stores this year.
All told, May operates 210 David’s Bridal stores, 462 After Hours Formalwear stores and 10 Priscilla of Boston stores.
May operates 448 department stores.
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