French retail giant LVMH has, reportedly, put the menswear brand Pink Shirtmaker up for sale though LVMH hasn’t officially confirmed on the same.
Notably, all the stores, website as well as the social media channels of Pink Shirtmaker have been closed since last few weeks. That’s enough indication of the struggle the brand has been going through lately.
Known for its exquisite formal shirts, Pink Shirtmaker has been amongst the worst hit fashion brands, as there’s hardly been any demand for office wear all through 2020 owing to the pandemic crisis.
LVMH, owner of Louis Vuitton and Fendi, is now looking for potential bidders for Pink Shirtmaker and there have been reports that some prospective buyers were invited last week in a data room to view financial information.
Meanwhile, one of the potential bidders shared that the sale didn’t include any stock, though there was a revenue stream from a venture with Victoria’s Secret.
LVMH had rebranded Thomas Pink as Pink Shirtmaker in 2018 with the intent to regroup as more upmarket tier; however, 2019 saw Pink Shirtmaker’s sales go down from £15.4 million to £12.2 million.
We will come up with more details on the sale once LVMH shares its views on the same.