The race to the winning post has begun!
Here’s another suitor that is keen to bid for the American clothing bigwig Brooks Brothers Inc. – It’s Milan-based digital fashion firm Giglio Group.
Leading a group of investors from Italy, the Giglio Group is all set to rescue the American fashion retailer that filed for Chapter 11 protection from creditors recently.
Also Read: Brooks Brothers files Chapter 11 bankruptcy; to shut down 51 stores
Giglio Group, with its rich expertise and experience in e-commerce and digital marketing, hopes to relaunch the brand across the globe with a core focus on e-commerce.
Substantiating further, Alessandro Giglio, CEO, Giglio Group, said “Our platforms are global and we have our logistics offices in the US, China and Europe and we can ensure digital coverage on the main market places and social networks across the globe.”
Reportedly, according to the business plans of the Group, Brooks Brother’s revenue should touch US $ 3 billion in next 5 years, with 70 per cent online revenue. But those are distant plans and there’s still some road to cover.
There has also been news about Solitaire Partners also in talks to buy the retailer. It will be interesting to see how next few weeks develop.
Brooks Brothers has more than 250 locations worldwide and is owned by Italian billionaire Claudio Del Vecchio.
Italian fashion brand Giglio operates 80 multi-brand stores and e-commerce via Giglio.com and is known for its clothing and luxury fashion products.
