Why is Brooks Brothers going out of business？
Brooks Brothers faced bankruptcy in 2020 due to the pandemic’s impact on retail and reduced demand for formalwear during global lockdowns. Years of overexpansion and slow adaptation to e-commerce also contributed. However, the brand was quickly acquired and revitalized by new ownership.
From a B2B viewpoint, its temporary closure reveals the necessity of digital transformation and product diversification. Manufacturers aligned with heritage brands must innovate in performance fabrics and lifestyle apparel to withstand economic volatility.
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