Hartmarx
 |
|
| Public | |
| Traded as | Grey Market: |
| Industry | Consumer Goods |
| Founded | 1911 (incorporated as Hart Schaffner & Marx) |
| Headquarters | Chicago, Illinois |
|
Area served
|
United States |
|
Key people
|
Homi B. Patel (Chairman of the Board) (President) & (CEO) |
| Products | Textile - Apparel Clothing |
| Revenue |
 US$ 564.87 Million (2007) |
|
US$ 2.49 Million (2007) |
|
|
US$ -4.18 Million (2007) |
|
| Total assets |
US$ 269.55 Million (2007) |
| Total equity |
US$ 228.04 Million (2007) |
|
Number of employees
|
3,800 |
| Website | www.hartschaffnermarx.com |
Hart Schaffner & Marx, founded in 1887 and incorporated in 1911, is an American manufacturer of tailored menswear. Its headquarters is at 101 North Wacker Drive, Chicago, Illinois. Hart Schaffner & Marx is the flagship brand of HMX Group, a holding company that engages in the manufacture and marketing of apparel for men and women primarily in the United States. HMX Group specializes in men's and women's tailored clothing and sportswear—including golfwear, shirts and ties, and women's career apparel. HMX agreed to sell virtually all its assets to New York-based Authentic Brands Group on October 16, 2012 for an undisclosed price following Chapter 11 bankruptcy proceedings.
The company has roots dating back to 1872, when brothers Harry and Max Hart opened a small men's clothing store on Chicago's State Street, called Harry Hart and Brother. In 1879, the Harts' brothers-in-law, Levi Abt and Marcus Marx, joined the partnership, which was renamed Hart, Abt and Marx.
Eight years later, Marx and Abt left the business and were replaced by a cousin, Joseph Schaffner, and the firm was renamed Hart Schaffner & Marx. At the same time, however, the wholesale business began to grow, overtaking the retail operations. On the strength of wholesale production, Hart, Abt and Marx won contracts to produce clothing for the U.S. military. This introduced the partners to prefabricated off-the-rack clothing and marked their entry into the ready-to-wear suit trade.
In 1897, the company began running national advertisements for its products and began selling off-the-rack suits through a variety of distributors. Hart Schaffner & Marx commissioned well-known illustrators, such as John E. Sheridan, to paint pictures for style books and retail posters. These ads portrayed the company's latest fashions in rich surroundings, establishing Hart Schaffner & Marx as a premium brand.
By 1906 the company had branched into sizes for men who were unusually tall, short, or overweight. Hart Schaffner & Marx thus became a mass-market brand, enabling virtually any man to have a fine quality suit at a lower price than a custom tailored suit.
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Wikipedia