Japan’s Cross Company has raised its stake in Thom Browne to 67 percent as the New York-based designer reverses his reluctance to cede control of his brand.
The men’s designer, known for his cropped pants and lean tailoring, first teamed up with Cross this summer when the Japanese company took a 20 percent stake in his company at an undisclosed price. At that time, Cross president Yasuharu Ishikawa said he would be open to eventually increasing his company’s stake in the business.
Browne and Cross also established a new company called Thom Browne Japan to oversee the brand’s business here. The two partners plan to open a Thom Browne flagship in Tokyo next year.
Yasuharu Ishikawa made it clear that the increased stake was made to save a brand that they believe in. Apparently the design house — like so many designers during this recession — was in dire financial straits.