Italian Investors Want to Save Legendary Brooks Brothers from the Bankruptcy
A fashion consultant and former brand manager of Ermenegildo Zegna, Luciano Donatelli teamed up with other Italian businessmen to save Brooks Brothers, the legendary American men's clothing brand, from bankruptcy. The group of potential investors was named Club Deal 8. In preparing the deal, Donatelli is assisted by the environmentalist and founder of the sustainable development company Pro-Natura, Brando Crespi, legal manager of Lorenza Morello, partner of the New York law firm Dentons Fabrizio Capponi and others.
If the Italian investors manage to close the deal, they will develop Brooks Brothers' online sales and increase the brand's production sixfold. “Our mission is to relaunch a brand that has nothing to do with Italy, but has always been especially dear to Italians. I compare [this deal] to the Jeep brand that has managed to combine Italian craftsmanship and the American Dream concept. This could be a new renaissance for Brooks Brothers ... I chose the name Club Deal 8 because I think eight is a lucky number. I really hope [for successful completion of the deal], ”said Luciano Donatelli.
One of the oldest men's clothing brands Brooks Brothers filed for bankruptcy on July 8th. Brooks Brothers customers were major businessmen and presidents of the United States, including Theodore Roosevelt.