U.S.-based Destination XL Group focuses its business on the big and tall men’s apparel market.
As of January 28, 2023, this company operated 218 DXL retail stores, 16 DXL outlet stores, 28 Casual Male XL retail stores, 19 Casual Male XL outlet stores, and a digital business, which includes an e-commerce site at www.dxl.com, a mobile site m.destinationXL.com and a mobile app.
To note: Destination XL Group defines the large and tall menswear market as starting at a waist size 38″ and above, as well as T-shirts size 1XL and above.
With the help of Coresight Research, the company believes the U.S. market for big and tall menswear is approximately $23 billion in fiscal 2022 (ending January 28, 2023) and is highly fragmented.
Destination XL Group expects that it will continue to grow market share as an integrated trade retailer capable of targeting a broad market, appealing to customers of diverse income, age and lifestyle segments and offering the underserved consumer the widest selection of sizes and styles.
In FY2022, the company’s total sales increased 8.1% over FY2021 to $545.8 million.
In general, your business faces competition from a variety of sources, including department stores, department stores, other specialty stores, and discount and off-price retailers that sell big and tall men’s clothing.
Apparel Market
While the Company has competed successfully on the basis of product assortment, convenience and fit, customer service and desirable store locations, there is no guarantee that other retailers, including e-commerce retailers, will not adopt shopping and merchandising concepts similar to its own.
Discount retailers with significant buying power, such as Walmart, Kohl’s and J.C. Penney, represent a source of competition. The direct business has many competitors, including King Size’s catalog and website, as well as online marketplaces, such as Amazon.
In addition to retail competitors, the Company considers any casual apparel manufacturer operating in U.S. outlet malls to be a competitor in the casual apparel market.
