TLRD is moving higher in the morning session after Tailored Brands Inc (NYSE:TLRD) reached a multi-year licensing agreement with the National Football League.
Key Development for Tailored Brands
When it comes to licensing agreements in the United States, then it is very hard to go wrong if a company manages such an agreement with one of the top sports leagues in the country. The National Football League (NFL) is, needless to say, a huge deal, and in a new development, Tailored Brands announced that it has signed a multi-year agreement with the league. Tailored Brands is the holding company that owns a range of apparel brands, and it goes without saying that this is a significant deal for the company.
Two of the best-known brands owned by the company are Men’s Wearhouse and JoS. A. Bank, and those are the brands that are going to be involved in this deal.
When the deal was announced, TLRD stock started climbing by almost 6% at $5.74.
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The company stated that fans of any of the NFL teams will be able to customize their suits or coats with linings tailored to the sports team they support. The option to customize such apparels will be made available at all the stores owned by those two brands in the United States.
Dinesh Lathi, the Chief Executive Officer of Tailored Brands, spoke about the deal in the press release. He said, “These new options underscore our continued investment in our custom clothing business, which represents the ultimate personalized experience for men’s clothing.” The linings in question will be printed digitally and offer far more accuracy.
In addition to that, a customer can also go to the store and order custom-made suits or coats with special details in relation to the NFL team of their choice. Sports fans are known to spend a lot of money on such customized apparel, and it is no surprise that TLRD stock has surged following the announcement of the deal.
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