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May Co. acquires Desmonds Formalwear
The May Department Stores Co., St. Louis, has announced a deal to purchase tuxedo retailer Desmonds Formalwear. May Co. plans to run the Desmond stores as part if its After Hours Formalwear unit within May's Bridal Group, which includes After Hours Formalwear, David's Bridal and Priscilla of Boston. Desmonds currently operates 66 stores in 10 states mostly in the Midwest, with annual sales of about $20 million. "Desmonds represents an important expansion of our tuxedo rental and sales business, moving our market reach west of the Mississippi River for the first time," says Gene Kahn, May's chairman and CEO. Owner and operator of Desmonds, John Desmond, will continue to serve as a consultant to the May's Bridal Group.
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