by Christopher Freeburn | February 20, 2013 1:24 pm
After delivering a $15.9 billion loss last year, the United States Postal Service (USPS) has decided to get into the apparel business.
On Tuesday, the struggling USPS said it has partnered with Wahconah Group, a Wisconsin-based clothing maker, to launch a new line of clothing and footwear next year, ABC News notes.
Positioned as a high-end line of all-weather gear, the apparel will be sold under the brand ”Rain Heat & Snow,” echoing the famed inscription on the James Farley Post Office in New York City.
Under terms of the deal, the USPS will license its brand to the clothing line, which will feature compartments meant to carry mobile devices like smartphones and Apple‘s (NASDAQ:AAPL) iPod. The first items in the new line will be aimed at men, but will be expanded to include clothing for women.
Earlier this month, the USPS announced that it will abandon Saturday mail deliveries starting in August in a bid to save up to $2 billion a year.
Source URL: http://investorplace.com/2013/02/us-postal-service-plans-to-launch-clothing-line/
Short URL: http://invstplc.com/1nxGsP7
Copyright ©2014 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.