Men's Wearhouse CEO. Douglas Ewert, said his company is looking to keep its current customer base while expanding the demographic appeal of its Joesph A. Bank brand.
"The Joseph Bank brand has a very loyal customer, and they respond to the quantity discounts," Ewert said on CNBC's "Squawk on the Street" on Tuesday. But in addition to the discounts, he said wants to give them "additional products to get a deeper penetration into their closet and give them another reason to shop with us besides just buy one get three free."
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Ewert said the brand has suffered from a "hyper-aggressive promotional strategy" that the company hopes to slowly wean off throughout 2015. In addition, the brand will introduce new products, fits and styles to give customers more options, he said.
Men's Wearhouse has also recently acquired the Joseph Abboud brand in an effort it attract a different customer altogether. The acquisition allows for existing customers to trade up to higher-quality products, Ewert added.
"It's a classic American designer brand with tailor clothing made in the USA," he said. "We are very pleased."
Shares of Men's Wearhouse are up nearly 20 percent this year, benefiting from surging sales of men's apparel across the board.
