The owner of Tommy Hilfiger and Calvin Klein is focusing on its flagship labels and has sold its heritage brands for $220 million, in a deal that has made Authentic Brands (ABG) a specialist in formal American menswear.
The billionaire Italian family that until recently owned Brooks Brothers has been accused in a lawsuit of driving the retailer into bankruptcy instead of selling it, to avoid paying millions of dollars to an investor.
Suits and tailored shirts are out, sweatpants and pajamas are in: remote working is changing work clothes habits, and old-school office attire should emerge from the pandemic far less starched and strict.
Not many designers can ever boast that they have entered a second half-century of career, but Sir Paul Smith can, and did, this week – celebrating with a remastered menswear collection of many of his greatest hits.
Just three months after being acquired by new owners, Brooks Brothers is off to a fresh start under the aegis of Ken Ohashi and Michael Bastian, its new president and newly appointed creative director, respectively.
Frasers Group was reportedly racing to try to do a deal on Debenhams at the weekend, but reports also suggested that US-based Barneys owner Authentic Brands has both Debenhams and Arcadia in its sights.