Every well dressed gentleman knows the Tom James Company, but did you know it’s headquartered in Franklin, the heart of middle Tennessee?
The world’s largest manufacturer and retailer of custom-made, luxury clothing, the Tom James Company was founded by Spencer Hays more than 40 years ago and serves over a half million clients through its 122 offices located in the US, UK, France, Holland, Australia, Germany and Japan.
Each Tom James client purchases directly from one of the company’s well-trained professional clothiers who provide clients with wardrobe consultation on a variety of fashion topics such as wardrobe coordination, current trends, proper fit, pattern and cloth selection, necessary collection pieces and attire for specific occasions. Tom James clothiers always come to their clients, as appointments are conducted at the client’s location of choice.
And the company carries an assortment of accessories such as ties, scarves, belts and shoes to assist in the completion of the client’s wardrobe.
According to the Forbes article "An American Original," published December 1, 1997, “It all began in 1959, when Steve Hays graduated from Texas Christian University. He joined Southwestern (established in 1856) and within a few years was virtually running the company. His ability to motivate people, to make them believe in themselves, was just what this business required. Wanting to hold onto him, Southwestern’s owners let him buy 12% of the firm for $50,000, payable over time. The business grew and grew.
In 1969 publicly traded Times Mirror Co., owner of the Los Angeles Times, purchased Southwestern for $17 million of stock -- $2 million going to Hays. One of its chief assets: Spencer Hays. He soon became Southwestern’s president. But Hays chafed under big public-company control and in 1982 persuaded Times Mirror to sell back Southwestern, then a $30-million-a- year company, to a group of company officials he headed. In the circumstances many entrepreneurs would have gone public to raise money and lessen personal risk. But Hays reputation for moneymaking was so strong -- and his confidence so great -- that almost all of the $27 million repurchase price was borrowed.
The debt was paid off within four years, and Southwestern’ss revenues have risen to about $150 million.” (Remember this was in 1997)
Hays says he got into the clothing business because he had come to understand how important a good appearance was to salespeople. If you dress well, he says, You feel a little better and walk a little taller all day. But busy businesspeople dont have much time to shop. Why not sell custom-made mens suits office-to-office the way you sell books door-to-door? Since the suits wouldnt be made until the orders were in, inventory costs would be low and profitability high.
Thus was born in 1966 the Tom James Co. -- named after the son of one of Hays former Sunday school teachers. Southwestern wasnt interested, but let Hays run the business on the side. He hired ex-Southwestern student sales personnel. As the business prospered, he began buying up suppliers. With the garment trade moving offshore, a lot of old companies were for sale, and Hays could buy them cheaply and, at the same time, earn the gratitude of the union by saving jobs.
Hays-owned companies now do $350 million a year, and the business is growing 30% a year in an industry that is growing at a fraction of that.(Again, this information is from 1997. It's estimated in 2010 Tom James Company alone enjoys revenues in excess of $270 million.)
During an interview with FORBES, Hays was more than happy to demonstrate selling points. There are 850 hand-sewn stitches in each collar, so it lies flat, he intones, using the jacket he was wearing as an example. There are 1,350 stitches in the lapel, so it doesn’t buckle. The pockets are constructed in such a way that if you put something bulky in them, they bulge in and don’t bulge out."
Just a few of the details you'll find on a sharp dressed man.
(some of the information in and photos were taken from the Tom James Company media press kit)
