LVMH reportedly puts Pink Shirtmaker up for sale
14 Dec 2020
British brand Pink Shirtmaker has reportedly been put up for sale by owner LVMH after demand for office wear plummeted in the past year due to the pandemic.
The brand’s stores, websites and social media have all been shut and LVMH is now seeking bidders for the brand, The Evening Standard reports.
Potential suitors are understood to have been approached to see financial information in a data-room opened last week.
One potential bidder told The Evening Standard that the sale did not include any stock, although there was a revenue stream from a venture with lingerie group Victoria’s Secret.
Pink Shirtmaker was previously called Thomas Pink when it was founded in 1984 by brothers Peter, James and John Mullen, before being rebranded back in November 2018 as it looked to reposition itself into a more upmarket tier.
Accounts for Thomas Pink Limited revealed revenue fell to 12.2 million pounds in 2019 from 15.4 million pounds the year before, while losses widened to 41 million pounds from 23.9 million pounds.
Photo credit: courtesy of Pink Shirtmaker