It is located in Marin County, California.
Brooks Brothers Finds Buyer, Accepts $325M Bid
The retailer, which owns jewelry brands Alexis Bittar and Carolee, may be acquired by mall owner Simon and licensing company Authentic Brands.
New York—Brooks Brothers has found a buyer after filing for Chapter 11 bankruptcy protection in July.
After fielding bids during a competitive sales process, the retailer chose licensing company Authentic Brands Group and SPARC Group LLC, a partnership between Authentic Brands and mall owner Simon Property Group.
The winning bid was for $325 million for both the company’s operations and its intellectual property portfolio.
The initial bid was for $305 million, but the price was raised as competition heated up.
The retailer had begun looking for a buyer or merger opportunity in 2019, but the COVID-19 pandemic threw a wrench in its plans, leading to a bankruptcy filing.
SPARC has agreed to keep at least 125 Brooks Brothers retail locations in business in an effort to preserve the brand.
The company operates 424 retail and outlet stores, including 236 in the U.S., as per court documents.
Founded in 1818 as H. & D.H. Brooks & Co. in New York, Brooks Brothers is the oldest apparel company in the United States, the company said in its bankruptcy filing.
The retailer’s jewelry subsidiary Deconic Group LLC, which manufactures, merchandises, markets, sells and licenses the Alexis Bittar and Carolee fashion jewelry brands, also filed for bankruptcy.
Brooks Brothers acquired Carolee LLC in 2001 and, under Carolee, Alexis Bittar in 2016. It overhauled its fashion jewelry business in 2017, relaunching as Deconic.
The deal is subject to court approval, but is expected to close by the end of August.
The bidders have a long history of scooping up troubled companies.
The duo also recently placed the winning bid for denim company Lucky Brand for $140.1 million.
Authentic Brands bought Barneys New York last year and partnered with mall owners Simon and Brookfield Property Partners to buy Forever 21 earlier this year.
The Latest
Concerns about rising prices, politics, and global conflicts continue to dampen consumer outlook.
May’s birthstone is beloved for its rich green hue and its versatility.
Meet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
Jacqui Larsson joins Opsydia with nearly two decades of experience in the industry.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The “Tiffany Céleste” collection reimagines designer Jean Schlumberger’s interpretations of the universe.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
It’s the second year for the event, slated to take place in October in Toronto.
Supplier Spotlight Sponsored by GIA
Sales will be paused while the relocation takes place over the next few months.
“SIS x MISA Denim and Diamonds” is a collaboration between the designer and celebrity stylist Misa Hylton.
The retailer is moving to a newly designed space in the same shopping center.
Gifts that are unique and thoughtful are top of mind this year, according to the annual survey.
The necklace is featured in the brand’s “Rebel Heart” campaign starring Adam Levine and Behati Prinsloo.
The two organizations will host a joint event, “Converge,” in September 2025.
Big changes appear to be on the horizon for the diamond miner and its parent company, Anglo American.
Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.
Jesse Cole, founder of Fans First Entertainment, shared the “five Es” of building a fan base during his AGS Conclave keynote.
The Royal Oak Perpetual Calendar "John Mayer" was celebrated at a star-studded party in LA last week.
The announcement came as the company reported a 23 percent drop in production in Q1.
The three-time Pro Bowler continues to partner with the retailer, donating to a Detroit nonprofit and giving watches to fans.
A double-digit drop in the number of in-store crimes was offset by a jump in off-premises attacks, JSA’s 2023 crime report shows.
Inspired by the Roman goddess of love, the designer looked to the sea for her new collection.
The luxury titan posted declining sales, weighed down by Gucci’s poor performance.
The selected nine organizations have outlined their plans for the funds.
The mining company’s Diavik Diamond Mine lost four employees in a plane crash in January.