Word: genesco
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Dates: during 1960-1969
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...Important. The turnaround is largely the result of prolonged prosperity, which not only gives men more money to spend but makes them more conscious of their appearance. "The middle to higher income groups now need a larger wardrobe," says Nicholas Parker, Genesco Inc.'s president for men's wear (Fenn-Feinstein, Roger Kent, Whitehouse & Hardy). This means a more expensive wardrobe: more men now buy suits in the $90 to $150 range, pay $6 or $8 for slacks when they used to pay $4. Leisure time and suburban sociability have caused a sportswear explosion; 125 million pairs...
...profit (up to 20% on invested capital) and little mechanization; even today 220 people work on the average pair of shoes. In the last few years, however, mergers and some failures have reduced the numbers of producers by 10%, and the few big manufacturers -International, Brown, Endicott Johnson, Genesco and U.S. Shoe-have expanded their share of the market by opening more retail outlets in discount houses and department stores...
This dedication did not escape Maxey Jarman, the Nashville corporate builder whose giant Genesco Inc. (annual sales: $589 million) owns Bonwit's and 63 other apparel companies. Jarman likes to have women executives around: he picked Jerry Stutz for Henri Bendel, also a Genesco subsidiary, and his House of Fragrance perfume and cosmetic company is headed by President Helen Van Slyke. "Women who are interested in a career and have a feminine viewpoint," says Jarman, "usually have intuitiveness as well as good promotion and advertising sense." Casting around for a new boss to replace resigning William L. Smith, Jarman...
...Airlines, whose name has long been just that to many people, is about to switch to Airlift International Inc. Olin Mathieson is asking customers to "please, call us by our first name," and the onetime General Shoe Co. is nailing down its new name with a "Do You Know Genesco?" advertising campaign...
...years has worn a new pair of shoes every week, Walton Maxey Jarman, 59, is a surprisingly shrewd and careful shopper. As the chairman of a half-billion dollar manufacturing and retailing giant, Genesco, Inc. of Nashville, Tenn., he does most of his shopping for companies-and has bought up 46 of them since 1938. Last week, after a three-month battle, Jarman added another company to his shopping bag; for $27 million, he bought control of S. H. Kress & Co., a national chain of 342 variety stores. Genesco, which started as a shoe company and already...