Dive Summary:
- Men’s Wearhouse may be considering a takeover bid to buyout high-end shoemaker brand Allen Edmonds.
- Men’s Wearhouse recently rejected a buyout offer from Jos. A. Bank, citing that the offer undervalued the company.
- After taking control of Joseph Abboud apparel line in July, the men’s formalwear company intends for exclusive brands to compromise up to 70% of its product offering.
Dive Insight:
Allen Edmonds is reportedly listening to several potential buyout offers from multiple suitors. "We've got plenty of ways to think about growing our future, and that's really what it's all about: It's about the continued growth of the company,” said Paul Grangaard, CEO for the company. Men’s Wearhouse publicly rejected a recent takeover bid from Jos. A. Bank in July, claiming the offer undervalued the Men’s Wearhouse brand.