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Article Excerpt
Here's the story of a man named Brady.
Richard Brady opened his first Brady's Clothing for Men store in 1970. Since then, he's grown to three stores--Fashion Valley, Coronado, and La Jolla.
Brady's Clothing for Men sells high-end clothing--a wool sport coat retails between $700 and $975. Still, despite a down economy and several other challenges, he reported $3 million in gross revenues last year and projects similar figures for this year.
There are many challenges. First and foremost is that the bulk of today's consumers shop at discount stores, department stores, or at outlet stores of major manufacturers, Brady said.
He also faces a growing generation gap--most of his customers are between the age of 35 and 65.
"In my day, you went to Brooks Brothers because your father went to Brooks Brothers--they've got client lists that go back five generations, in some cases," Brady said. "Today, the kids are shopping at The Gap and Banana Republic--or maybe Hot Topic and other stores) their parents wouldn't be caught dead in."
Brady noted that there's a lot of pressure on high-end clothing retailers. There are few high-end men's...
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