February luncheon: Menswear market domination
On Wednesday, Feb. 7, Venture Connectors is excited to feature Justin Delaney, president of Menguin and Generation Tux, who will share the story behind how two competitors joined forces when Generation Tux acquired Menguin in September 2017 for $25 million. As a result of the acquisition, Generation Tux and Menguin now lead the online formal menswear rental market. Delaney will also discuss how he helped lead the integration of the two companies.
Generation Tux/Menguin is located in a 300,000-square-foot facility in Jeffersontown that ships tuxedos and suits nationwide. The company is heavily focused on technology, using RFID chips to track inventory, a fit algorithm to accurately predict sizes, and its own software platform to manage warehouse operations.
Delaney launched Louisville-based Menquin in 2014 and raised about $2.5 million in outside financing from notable investors Scott Dorsey, Mark Cuban and others. Generation Tux was founded in 2015 by menswear legend George Zimmer, formerly of Men’s Wearhouse. Menguin grew at a compound annual growth rate of 780% before the acquisition.
Prior to founding Menguin, Delaney worked in commercial and digital strategy for Delta Air Lines, and was a travel writer for AOL Huffington Post. He received a bachelor’s degree in business administration from the University of North Texas and his MBA from Indiana University. Outside of business, Delaney is on a quest to visit every country in the world and is writing a book about startup life.
Venture Connectors' luncheons are held on the first Wednesday of the month. RSVPs are required. Doors open at 11:30 a.m., and the meeting runs from noon-1:15 p.m. The lunch is free to members and $40 for nonmembers.
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