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TAILOR NEEDLE & THREAD SIGNS 310 STORE DEVELOPMENT AGREEMENT

       TAILOR NEEDLE & THREAD SIGNS 310 STORE DEVELOPMENT AGREEMENT
    CHICAGO, April 27 /PRNewswire/ -- Tailor Needle & Thread, Ltd., headquartered in Itasca, Ill., signed an area development agreement involving more than 300 stores in 17 states, according to President and CEO Robert E. Tischler.  The agreement commits New Century Inc., a Chicago-based investment company, to build and open 310 Tailor Needle & Thread franchises over a five-year period.
    Tailor Needle & Thread is a new franchise concept of rapid alteration shops offering complete tailoring services and short turnaround times.
    All Tailor Needle & Thread stores, which average 750 square feet in size, will be located in large shopping malls in order to generate both a retail and wholesale base.  The wholesale portion of the business is expected to be substantial since many clothing stores in malls do not have an alteration department.  These stores also represent a referral base for retail walk-in customers.
    The agreement calls for New Century Inc. to build the Tailor Needle & Thread stores in specific market areas in Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Maryland, Massachusetts, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, Virginia, Wisconsin and the District of Columbia.
    New Century Inc. is headed by Daniel Kite, operator of multiple Blockbuster Video Stores in the Midwest.  "We think Tailor Needle & Thread will be to tailoring and alterations what Blockbuster is to the video industry," noted Kite.
    "We feel we've designed a model franchise for the '90s and beyond," noted Tischler.  "We are certainly pleased that someone with the successful franchise track record of Dan Kite and his associates think so highly of the concept as to invest substantial resources."
    The Tailor Needle & Thread concept is designed to incorporate a number of factors to insure the success of each franchise.  These include low start-up costs, no inventory, minimal square footage requirement, no obsolescence, a readily available skilled labor force and a genuine consumer need.
    The first Tailor Needle & Thread franchise was recently opened in the Detroit area.  The prototype store has been open in a major Chicago area mall for four months.  Additional area development agreements are currently being negotiated for markets around the country.
    -0-                        4/27/92
    /CONTACT:  Tom Potts of Aaron D. Cushman and Associates, 312-263-2500, for Tailor Needle & Thread/ CO:  Tailor Needle & Thread Ltd. ST:  Illinois IN: SU: TS -- NY076 -- 3189 04/27/92 12:50 EDT
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Apr 27, 1992
Words:394
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