Jimsformalwear

The story begins not in 1964, but in 1922, with a family clothing store in Trenton, Illinois, founded by Leo Davis. His son, Jim Davis, eventually took over the family business. In 1964, responding to customer demand, Jim and his wife Betty launched a side hustle out of a small house with a few hundred tuxedos. This was the start of Jim's Formal Wear. The business model was simple but powerful: instead of renting directly to consumers, they supplied tuxedos to a network of retailers like menswear and bridal shops. This wholesale approach allowed local stores to offer tuxedo rentals without the massive inventory cost. Jim's Formal Wear became the engine in the background, growing to service thousands of retailers nationwide from multiple distribution centers. The company passed to a second generation, with Gary Davis leading a national expansion. A key moment came in 2013 when the family partnered with investment firm Armory Capital to finance the transition to the third generation, led by Steve Davis, and to fund future growth. This ensured the company could continue its strategy of acquiring smaller competitors. In a significant move to preserve its culture and reward its staff, the company transitioned to a 100% employee-owned model through an Employee Stock Ownership Plan (ESOP) at the end of 2024. Today, Jim's Formal Wear is the largest wholesale formalwear supplier in the country, a testament to a multi-generational focus on serving its network of retail partners.