TuxedosOnline.Com Moda Formalwear Ranks No. 1,695 on the 2009 Inc. 5000 America’s Fastest-Growing Private Companies
Moda Formalwear the parent company of Tuxedosonline.com Ranks No. 1,695 on the 2009 Inc. 5000 of America’s Fastest-Growing Private Companies. The company showed 188% growth during a time when most retail companies are shrinking. TuxedosOnline.Com sells tuxedos and formal accessories direct to the public and saves consumers so much that rental tuxedos have become a thing of the past.
Los Angeles, CA (PRWEB) November 14, 2009 -- Inc. magazine today ranked Moda Formalwear the parent company of TuxedosOnline.Com NO. 1,695 on its third annual Inc. 5000, http://www.inc.com/inc5000/2009/company-profile.html?id=200916950 an exclusive ranking of the nation's fastest-growing private companies. The list represents the most comprehensive look at the most important segment of the economy.
TuxedosOnline.Com has is growing at 188% over last year because it offer value to its customers. The web site offers the public a chance to buy tuxedos and accessories at a price that is many times lower then renting a tuxedo. For this reason Moda Formalwear has turned the rental tuxedo industry around and many people are buying rather then renting their tuxedos. The idea has obviously caught on looking at the increases that the site has experienced. They sell tuxedos, vests, cummerbunds, bow ties, studs and cufflinks, as well as hard to find items like spats and top hats and gloves.
“Savvy trend spotters and those who invest in private companies know that the Inc. 5000 is the best place to find out about young companies that are achieving success through a wide variety of unprecedented business models, as well as older private companies that are still expanding at an impressive rate,” said Inc. 5000 project manager Jim Melloan. “That’s why our list is so eagerly anticipated every year.”
The 2009 Inc. 5000, unveiled today on Inc.com, serves as a unique report card on the U.S. economy. Despite the ongoing recession, aggregate revenue among the companies on the list actually increased to $214 billion, up $29 billion from last year, with a median three-year growth rate of 126 percent. The Inc. 5000 are responsible for creating more than 1 million jobs since their founding, making the list perhaps the best example of the impact private, fast-growing companies can have on the economy. Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found on Inc.com.
This year’s list also offers a preview of which industries are poised for growth in coming years. With an average growth rate of 667 percent, Insurance ranked as the top industry overall. Government Services was the top industry gainer with 252 companies on this year’s list, up from 135 last year. Health is the top industry by both total revenue ($22.7 billion) and total employment (156,223 jobs).
The Hottest Regions for Fast-Growing Companies
Once again, California tops the Inc. 5000 with the most companies of any state with 612. The Golden State is followed by Texas (393), New York (316), Florida (263), and Virginia (261). All 50 states, plus Washington, D.C., and Puerto Rico, are represented on this year’s list.
New York boasts 371 Inc. 5000 companies, making it the top metropolitan area, followed by Washington, D.C. (317), Los Angeles (253), Atlanta (209), and Chicago (203).
Methodology
The Inc. 5000 is ranked according to percentage revenue growth from 2005 through 2008. To qualify, companies must have been founded and generating revenue by the first week of 2005, and therefore able to show four full calendar years of sales. Additionally, they have to be U.S.-based, privately held, for profit, and independent -- not subsidiaries or divisions of other companies -- as of December 31, 2008. Revenue in 2005 must have been at least $200,000, and revenue in 2008 must have been at least $2 million. The top 10 percent of companies on the list comprise the Inc. 500, now in its 28th year.
About Inc. Magazine:
Founded in 1979 and acquired in 2005 by Mansueto Ventures LLC, Inc. (www.inc.com) is the only major business magazine dedicated exclusively to owners and managers of growing private companies that delivers real solutions for today’s innovative company builders. With a total paid circulation of 712,961, Inc. provides hands-on tools and market-tested strategies for managing people, finances, sales, marketing, and technology. Visit us online at Inc.com.
About the Inc. 500|5000 Conference:
Each year, Inc. and Inc.com celebrate the remarkable achievements of today’s entrepreneurial superstars—the privately held small businesses that drive our economy. The Inc. 500|5000 Conference & Awards Ceremony brings together members of the Inc. 5000 community, both a new class of Inc. 5000 honorees and the list’s alumni, for three days of powerful networking, inspired learning, and momentous celebration. Please join us September 23–25, 2009, at the Gaylord National Resort and Convention Center in National Harbor, Maryland. For more information about the 2009 Inc. 500|5000 Conference & Awards Ceremony, and to register, visit www.Inc5000event.com. Stay connected with Inc. Events by following @IncEvents on Twitter.
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