By Harry Keaney
For Dublin’s Mullen brothers, Pink slips are a delight to behold. And selling part of their business certainly didn’t mean losing their shirts.
Last weekend, James, Peter and John Mullen became multimillionaires after selling 70 percent of their interest in the Thomas Pink chain of luxury shirt retailers to the French goods maker LVMH Moet Hennessey Louis Vuitton SA. The price has not been disclosed, although the company is believed to be worth about £50 million.
James and Peter and joint chairmen of the company and John is non-executive director.
James Mullen opened the first Thomas Pink branch in London in 1984. There are two stores in the U.S., one on Madison Avenue in Manhattan, and the other at the Americana Mall in Manhasset, L.I. The chain has 13 stores in London, with others in Glasgow, Edinburgh and Dublin.
There has been speculation that the company may soon be floated and, according to the Sunday Business Post newspaper in Dublin, it has retained Morgan Stanley Dean Witter for advise on how to proceed with future financing.