List of Deals
McGregor-Doniger was a clothing manufacturer founded in New York in 1921 as David D. Doniger & Company. Doniger specialized in clothing, knitwear, sport shirts, and coats for men and boys. The company grossed $148,000 in 1921. It grew rapidly in the succeeding years. McGregor-Doniger adopted its new name and first sold stock to the public in 1956.
In that year, Barron’s described the company as the leading American men’s sportswear manufacturer. The company had sales of $40.8 million in 1954 and $52 million in 1956. Sales in 1959 were $49.1 million. McGregor-Doniger benefited from the rise in popularity of casual men’s clothing during the 1950s, and its core business was men’s sportswear. By the 1960s the company grew to specialize in jackets and rain gear (such as the Drizzler coat), swimwear and tennis clothing, pants and shorts, and to a lesser extent boys’ clothing.
McGregor-Doniger acquired a women’s clothing line from Bernard Altmann in 1963. The women’s line was unsuccessful, and McGregor-Doniger stopped manufacturing it in 1968. The company suffered when mod and Western styles fell out of favor in 1967. Sales fluctuated over the 1960s: They were $55.3 million in 1964, $62.9 million in 1966, and $52.5 million in 1968.
Major shareholders of McGregor-Doniger sold shares in a Lehman Brothers deal in 1969; however, the sale did not stem the company’s decreased sales. The company had $47.3 million in sales in 1969 and $45.1 million in 1970. Rapid-American Corporation acquired McGregor-Doniger in 1977.