Failed upscale menswear retailer Pink Shirtmaker, owned by luxury conglomerate LVMH, is making a comeback under new ownership. The brand was put up for sale before Christmas and has now been purchased by Nick Preston, former JD Sports Fashion trading director. Preston, who has previous experience in menswear buying from his time at Harvey Nichols and House of Fraser, successfully brokered a deal to acquire the Thomas Pink brand and its intellectual property rights. However, it is important to note that the deal does not include the physical stores of the brand.

The newly formed business has been registered in the US, specifically in Delaware. There are speculations regarding the backing of the venture, with rumors suggesting potential involvement from a South American investor or Mexican department store El Palacio de Hierro. However, these reports have not been officially confirmed.

Formerly known as Pink Shirtmaker before its acquisition by LVMH in 1999, Thomas Pink has not traded physically since last year. However, in January, the brand launched a new online platform, signaling its imminent return. Currently, preparations are underway for the relaunch of the label, with the website being revamped to cater to the brand’s loyal customer base.

The pandemic dealt a significant blow to the business last year, resulting in substantial losses. With remote work becoming the norm for many office workers, particularly in the financial sector, Thomas Pink’s core consumers reduced their purchases drastically. Consequently, the retailer had to shut down its flagship stores on London’s Jermyn Street and in the City of London. Additionally, two retail units at Heathrow Airport and a store on Madison Avenue in New York were also closed.

Please find below two relevant links for further information:

1. LVMH Official Website: Explore the luxury conglomerate behind the acquisition of Pink Shirtmaker and other iconic brands.

2. JD Sports Fashion Official Website: Learn more about Nick Preston’s background as the former trading director of JD Sports Fashion and his experience in the menswear industry.