I was not surprised when I read this morning that Brooks Brothers was filing for bankruptcy protection. The company blames the pandemic, but is that really the problem? I knew they were in trouble years ago.
Founded in 1818, the company boasts that they have dressed 40 U.S. presidents and that much of their product is still made in the U.S., which means it is well made, but not fast-fashion-cheap. The company was sold by English parent company Marks and Spencers to Italian owner Claudio Del Vecchio in 2001 who looked to update the stodgy reputation of Brooks Brothers by appealing to a younger crowd — this was the beginning of its downfall.
I have bought a lot of my clothes from Brooks Brothers over the past 20 years but what I found was that it gradually became more difficult to buy anything. When I went into the shop closest to me, which is 1 1/2 hours away in downtown Toronto where there is no parking nearby, I found that what I wanted was not stocked in my size, and often not available in any size. The American shops I went to while travelling were rarely better. Online shopping through their Canadian site resulted in massive import costs, and so my only option was to order through the Toronto shop, which often took weeks for the items to arrive and required a return trip to pick it up. I will bet the typical client of Brooks Brothers is the classic middle aged male shopper who wants in and out of the store in 20 minutes – tops – I know I am.
As the company courted thirty-somethings who weren’t into buying suits (unless they were appearing in court as either lawyer or felon), they ignored the fifty-somethings who wanted classic business and ‘something-with-a-bit-of-ease-and-flair-for-a-more-contemporary’ business casual look that didn’t abandon respectable middle-aged needs (think Kennedys at Hyannis Port). It got to the point that I was just putting in an order for a few of the same shirts every year and I doubt any company could survive on a few shirt sales.
Added August 14: It was just announced that Brooks Brothers found a buyer, in Simon Property Group (mall operator), and Authentic Brands Group (a licensing firm) so the brand will live on a while longer. It doesn’t sound like the perfect fit to me, but maybe they will fix their supply and demand chain better and not force off-shore production to improve the bottom line…