On Friday, WWD rained on our happy-hour planning with the abrupt announcement that Thom Browne’s CEO and CFO had left the label. CEO Tom Becker and CFO Thomas Cunningham decided to leave on their own, according to Browne’s spokeswoman Miki Higasa. “[Thom Browne] had been thinking a lot about restructuring, and they decided it was time to leave to pursue other interests,” she said. Browne is running the company all by his lonesome and may bring on other executive types to help him. (Higasa says he’s in the “thinking stage.”)
Higasa again refuted rumors that Browne is thisclose to filing for bankruptcy. She seemingly bolstered her case by highlighting Browne’s non–Thom Browne pursuits, like his Black Fleece collection for Brooks Brothers and his collaboration with Moncler. But Higasa confirmed that Browne is still looking for a financial partner. He’s been looking for one for three years but refuses to sell a majority stake in his company. Aside from that, Higasa doesn’t say much about the health of Browne’s namesake label and store. And all WWD says about their success is that the store “remains open.” Sadly, that is worth boasting about in These Times, but doesn’t say much about the longevity of Browne’s signature flood pants. What of the world’s fiery passion for high-waters? We know it exists. The niche crowd of men lurking our streets in high-waters grows each spring, and we actually don’t dislike the way they look with the proper pair of mandals, which must be worth something to someone with money. Right, rich
people person out there? Maybe it’s time for Browne to be less rigid and market his wares to the masses with a Topshop or H&M line, since he loves collaborations so much. Lord knows no one’s buying his $2,000 suits now. Matthew Williamson got an incredible amount of press from it, after all.