Yahoo Finanza City shirtmaker Pink ties up new future with sale of brand
Thomas Pink, the collapsed shirtmaker once the outfitter of choice to high-flying City suits, could be set to return after a former JD Sports executive acquired its brand.
Nick Preston, who previously worked at JD, Harvey Nichols and House of Fraser, has reportedly brokered a deal to buy the intellectual property of the shirtmaker, which ceased trading before Christmas, The Mail on Sunday reported. Mr Preston did not respond to a request for comment.
Thomas Pink was at one stage the preferred shirt brand in the Eighties and Nineties of dealmakers. But the Jermyn Street tailor closed last year amid the coronavirus pandemic after reports that its owner was trying to sell it.
The shirtmaker was bought by Louis Vuitton owner LVMH in 1999 from its founders, Irish brothers John, James and Peter Mullen. But in 2018, it reported losses of £23m and last year closed its flagship store.
According to the Mail, a new holding company called Thomas Pink Shirtmaker has been set up in the US. Private equity firms had also considered bidding for the assets. The deal is expected to include the Thomas Pink brand and intellectual property rights but not its shops.
At the end of January, a new website for Thomas Pink emerged with the message: “Don’t fret – we’ll be back soon. We’re excited to announce that we’re returning to our roots with the same team that has helped build Thomas Pink Shirtmakers over the years.”
LVMH did not respond to a request for comment.
