When his son Dimitri got married 10 years ago, Dan Capetz ordered a trio of matching suits for himself and his sons through his menswear boutique, Atmosfere. For his son Damon, who co-owns the Minneapolis shop with his dad, it was a light-bulb moment.
"We realized we had hit an untapped market," Damon said.
The following year, the father-son team outfitted the wedding parties for two of Dimitri's friends. Their strategy? Finding the same style and quality found in high-end suits for a fraction of the price.
They dressed 20 wedding parties the following year. This year, they're approaching 300, and showing no signs of slowing — all through word of mouth.
Dan opened Atmosfere in Gaviidae Common in downtown Minneapolis in 2005 before moving to Calhoun Square in Uptown in 2007. In 2015, the retailer relocated to the North Loop and Damon officially became co-owner. While the store originally specialized in men's casual and business apparel, more than half of its stock is now geared toward weddings.
Dan estimates that 60 percent of Atmosfere's business comes from outfitting wedding parties and guests.
"People are never going to stop getting married; they're not going to stop wearing formalwear to weddings, and they're not going back to renting," Damon said of Atmosfere's foray into wedding togs. "Plus, guys are caring more and more about what they wear, and a rental suit doesn't cut it."
Sure enough, the formalwear rental industry is in decline. A 2017 report conducted by market research firm IBISWorld indicated that the industry has lost footing over the past five years as consumer dollars have shifted to online and traditional retailers as lower cost suiting options have entered the marketplace.