Is Brooks Brothers for sale?
today Nov 13, 2019
Brooks Brothers may soon change hands. The historic American ready-to-wear label, owned and run by the Italian entrepreneur Claudio Del Vecchio, is in search of a buyer, according to the Italian business newspaper Milano Finanza, which quoted several industry sources.
So far, no consulting bank has received a formal mandate for this operation. But, according to the newspaper, "various Anglo-Saxon investment funds have already had access to the file, as well as groups operating in the same commercial sector."
When contacted by FashionNetwork.com, the brand did not wish to comment.
Claudio Del Vecchio, the eldest son of Luxottica founder Leonardo Del Vecchio, acquired Brooks Brothers in 2001 from Marks & Spencer.
Founded in 1818, the house celebrated its bicentennial in Florence last year with a unique fashion show as part of the Pitti Uomo winter edition.
The group has reached one billion dollars (970 million euros), including 65% coming from the United States, followed by Japan.
Known for its shirts with the famous button-down collar, the brand -- whose men's clothing represents 80% of total sales -- has made particular progress in Europe, where it has doubled its turnover in the last six years.
The women's collections have been designed since 2014 by Zac Posen, still present in the company, though the designer has just announced the end of his own brand.
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