Today WWD reported that Brooks Brothers has hired the investment bank PJ Solomon with eyes on a possible sale. As heard through the grapevine, there was talk that Claudio Del Vecchio would get through the 200th anniversary in 2018 and then perhaps look into unloading the brand.
WWD content is blocked by a paywall, but the story was picked up in the fashion trade publication MDS:
Brooks Brothers considers its sale. The company, owned since 2001 by businessman Claudio del Vecchio, has hired investment bank PJ Solomon to explore future options, including sale, according to WWD.
Earlier this week, the Italian newspaper Milano Finanza stated that Del Vecchio was exploring selling the historic American company, although the businessman had repeatedly said this was not on his plans.
Del Vecchio is the son of Leonardo del Vecchio, founder of the optics giant Luxottica. Although he began his career in the family company, the businessman left Luxottica in 1997 and took over the women’s fashion chain Casual Corner. In 2001, the executive took control of Brooks Brothers.
If the company is sold, it will be interesting indeed to see what the new owners do with it. — CC