The men’s retail sector is dealing with another gut punch as luxury giant LVMH Moët Hennessy Louis Vuitton is reportedly shopping men’s shirtmaker Thomas Pink.
LVMH renamed the brand Pink Shirtmaker in November of 2018 to aim for a premium price point. But the coronavirus pandemic has essentially halted sales of office clothing and formal wear as group gatherings, whether in the office or for social occasions, are suspended amid social distancing.
Pink over the summer closed its U.K. and New York City flagship stores and shut branches at Heathrow Airport. Pink is no longer listed on LMVH’s list of fashion and leather goods brands, and its website and social channels are no longer operating, British fashion outlet Drapers first reported.
Executives at LVMH declined comment.
The news follows British men’s wear firm TM Lewin’s July collapse into administration, which shuttered 66 stores. Torque Brands, an investment venture affiliated with Stonebridge, acquired the brand’s assets.
In November, men’s chain Moss Bros launched a company voluntary arrangement to restructure operations and cut costs across a 128-store fleet.
In the U.S., the J. Hilburn and John Varvatos brands each filed Chapter 11 petitions in May, followed by the August bankruptcies of Brooks Brothers in July and Tailored Brands Inc., which operates The Men’s Wearhouse, Jos. A. Bank, Moores Clothing for Men and the K&G Fashion Superstore nameplates. All have exited Chapter 11.