To expand a bit on my understanding why is Brioni in decline...
"Brioni" got it's name from famous summer resort island for wealthy Italians. Brioni is an island in Adriatic sea. Before WWII it (like most of Dalmatia and Istria) belonged to Italy.After WWII it became part of Yugoslavia. Brioni was used as Tito's (Yugoslav communist head of state) private island,where he even had a private zoo - it was really prototypical retreat of a James Bond bad-guy.
So, Brioni was, as a brand, projecting this kind of upper class image. "Nomen est Omen", after all. A bit of an "Italian industrialist", "NYC Investment Banker", but also a bit of "Shady businessman", "Third world dictator" type of image - all still great marketing in the cold war world.
So times change, but Brioni kind of remains in this image that no one wants to project any more. No one.
Here is an example of what I'm talking about. Is I google for images of "Kitonsuit", or "Attolini suit" I get images of some nice looking middle aged men, seemingly doing some serious business or relaxing with their good looking wives. They look sophisticated, rich, but also kind of... ethical if that makes sense. If I google for images of "Brioni suit" I will get some of the same stuff, but also a lot of Donald Trump and characters like John Gotti and other shady types.
Even the newest of the neuveau riche do not want to identify with Trump or Gotti. People that do want to identify with, say, Trump, do not have money to spend on Brioni suit. And, I didn't have any intention of making this into political discussion, just looking at it from marketing/branding perspective.
So, IMHO, as much as we like to talk about craftsmanship, quality, style etc, I think where Brioni falls short is branding, pure and simple.
Whether they will be able to turn ship around with new imaging, as they are trying? No, because they simply do not have brand potential as, for example, YSL.
Will their owners make money? Yes they will squeeze cash from the brand, burying it along the way.