Patriotic Millionaire George Zimmer has just announced the launch of his second business in the past year, the online tuxedo rental company Generation Tux. Following up on his tailor match making business that launched early this year, zTailors, Generation Tux aims to take on established tuxedo rental companies by creating a new streamlined online platform which will bring the tuxedo rental process into the 21st century and likely find strong appeal with the millennial generation.
Generation Tux, which was funded using Zimmer’s personal finances as well as investments from his friends and other interested parties, simplifies the process of renting a tuxedo for any formal occasion. For around $150, users will be able to submit their measurements online, customize their selection and have it mailed directly to them a week before the even it is needed for. In the package, customers will receive a tuxedo, shirt, shoes, cuff links and a cummerbund or belt.
Zimmer sees Generation Tux as a great way to shake up the tuxedo rental industry, a market generating an estimated $580 million annually in the United States alone. However, he does not just view this as a win for himself and his investors, but also for the individuals he plans to employ. As a Patriotic Millionaire, George knows that it isn’t enough to just create new jobs, they must be new, decent paying jobs that can sustain his employees.
During the launch of zTailors, George Zimmer was interviewed by the Los Angeles times and expressed his support for a $15 minimum wage and a more fair tax system. When asked about paying his Oakland based employees $15 an hour, he responded, “It’s as much a personal choice — because I think it’s the right thing — as it is a political agenda.”
“[Patriotic Millionaires] is a small group with a big name, people who had success from capitalism who think capitalism is in need of a modification to reduce the income inequality, to make it more fair,” he stated, “It’s not pure[ly about] income inequality; it’s the inequality of opportunity.”