For 124 years, Hickey Freeman has been a manufacturer for luxury menswear.

Now, another Rochester staple — only a decade younger than Kodak — is on its way out.

Stephen Granovsky, Hickey Freeman’s CEO, says after about 18 months of negotiation, the company will now be known as the Rochester Tailored Clothing Company.

“We are losing that business because the license was not renewed by Authentic Brands Group,” said Granovsky. “They own the IP. They own the brand. We license it. It is expired and they’ve decided to move it to a lower price arrangement with another company who is going to produce in Mexico.”

“It’s not the name, it’s the people and the DNA of that facility,” said John Martynec, Hickey Freeman’s executive vice president. “You can call it anything you want, you know, as long as people know it’s made in the original factory, that’s all that matters.”

They say Hickey Freeman has already been selling RTC products for more than a decade.

RTC will continue to manufacture the same product, with the same employees, from the same location on North Clinton Avenue.

In a statement, Mayor Malik Evans praised the quality of the local workforce for the company to want to keep the factory open, even if the longtime name is leaving.

The rebrand will kick off June 1 in a new factory store at South Union Street and E Broad Street, after a Memorial Day weekend sale of the remaining locally-made Hickey Freeman supply.