They own more than just Rivers, also Noni B, Katies, Crossroads,...

They own more than just Rivers, also Noni B, Katies, Crossroads, Rockmans and Millers. And he's a multi billionaire for the reference. Brand reputation is not something you can really see effectively in a balance sheet and sometimes the brand(s) itself is more valuable than the raw numbers suggest. I don't see many reasons why he would be buying a large position in this stock and effectively bailing out the company in 2021 unless he sees a recovery on the horizon. Every investor is capable of making mistakes but for larger investors lightning doesn't usually strike twice unless they want it to.