Brooks Brothers targets billion-dollar status after five years of growth
Brooks Brothers, under Authentic Brands Group, is pursuing a billion-dollar valuation after five consecutive years of positive revenue growth since its 2020 bankruptcy. The company said it has already brushed up against $1 billion in annual revenue and is on track to hit that mark more consistently soon.
The New York Fashion Week show took place in the secluded garden area atop Radio City Music Hall, where models were cooled with ice packs to beat the brutally hot weather. Bastian said earlier marketing efforts such as lookbooks and catalogs had not made a memorable splash with consumers under 40, whom he identified as the brand’s biggest awareness gap. To attract younger shoppers, Brooks Brothers has partnered with streetwear labels Needles and New Era and featured younger talent such as comedian Alex Edelman and influencer TyLynn Nguyen in recent campaigns. A limited partnership with Macy’s offers a more affordable suiting line in about 40 stores nationwide, a move Ohashi described as careful and measured to balance the brand’s prestige with accessibility. Brooks Brothers operates roughly 140 locations, opened a New York flagship in May 2023, and plans to add 10 stores over the current year. The uniform business, launched two years ago, now supplies uniforms to more than 66,000 United Airlines employees, providing a steady source of revenue.
“The ball is already rolling,” Michael Bastian, Creative Director said.
“We opened our New York flagship [in May of last year,] and we’re opening 10 stores over the whole year,” Ken Ohashi, CEO said.
Brooks Brothers filed for bankruptcy in 2020 and was acquired by Authentic Brands Group. Michael Bastian serves as the brand’s creative director and Ken Ohashi serves as CEO. They have been leading a turnaround to return the brand to its former glory while targeting younger shoppers.
What we know
Brothers Brothers is in the midst of a significant turnaround since its bankruptcy in 2020.
Bastian said it has already brushed up against a billion dollars in annual revenue and is on track to hit that mark more consistently soon.
“The ball is already rolling,” Bastian said, referring to Brooks Brothers’ five consecutive years of positive revenue growth since he and Ohashi took over.
Brooks Brothers launched a uniform business two years ago, and currently provides uniforms for more than 66,000 United Airlines employees, which Ohashi said has been great for the business’ stability.
Both Ohashi and Bastian see stores, of which Brooks Brothers has around 140, as an integral part of Brooks Brothers’ future.