“Over the last 40 years, I have built MW into a multi-billion dollar company with amazing employees and loyal customers who value the products and service they receive at MW. Over the past several months I have expressed my concerns to the Board about the direction the company is currently heading.Instead of fostering the kind of dialogue in the Boardroom that has in part contributed to our success, the Board has inappropriately chosen to silence my concerns through termination as an executive officer.”
George Zimmer is a Democrat who finds the political primaries of early 2016 un-American with bad behavior. The iconic founder of the Men’s Wearhouse has become founder of a new company called Generation Tux. And as you might expect, he doesn’t like the way the Republican candidates were dressed during the debates. Further, he says that the rhetoric is something that he never heard as a young man growing up, and suggested it is all rather tacky. He was right. Never in my life have I seen a campaign filled with so much open warfare from adults who should have mastered the discipline, manners and class to handle debate better. But I digress.
I like George Zimmer. For one thing, when he talks too you there’s nothing phony. It’s quite easy to see this man as my personal tailor with the tenacity to be honest about what fits well and what doesn’t. He knows the business inside out in his sleep, which struck a raw nerve for me when I was traveling and picked up a newspaper in a hotel restaurant and learned that Zimmer was out at The Men’s Wearhouse. Don’t count him out.
On the subject of being released, Zimmer, well known for his tag line: “You’re going to like the way you look. I guarantee it”, George Zimmer says that he opposed the acquisition of Joseph Bank Clothing. Remember, Zimmer competed against Bank from 1973 to 2013. “I don’t know why they did it. They destroyed the brand with all those promotions”. On being pushed out he stated, “It doesn’t matter. What matters is how you get back up after you get knocked down”. True to his word, Zimmer started two companies.
As if all of this wasn’t enough, Zimmer had to learn about millennials and start-up technology, but says he had fun starting up his new business again. My projection? Mark my words. Zimmer will be back to buy the Men’s Wearhouse and put its affairs in order. It cannot possibly reach its full potential without him. He’ll have to correct the ill-advised purchase of Bank, but he can do this handily. It’s just a matter of time before Zimmer will be back. And when he does, I’ll visit one of the stores after he gets his arms around it once again. I guarantee it.