Anti Social Social Club (“ASSC”), a streetwear label in Los Angeles, founded by Neek Lurk in 2015, was sold to Marquee Brands, a licensing and brand management firm.
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Whichever type of cold weather enjoyer you are, a new collaboration from Jil Sander and Arc’teryx is taking sportswear-infused mountain gear to stylish new heights. Arc’teryx, the Vancouver-based outdoors company with a cult-like following beyond its mountain athlete customer base, has paired up with Jil Sander+. That's the line launched by Jil Sander creative directors Luke and Lucie Meier in 2019. It's intended to complement their monastically pure mainline with clothing designed for life outside the city.
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Louis Vuitton Möet Hennessy bought a 60% stake in Off-White, boosting LVMH deeper into the sportswear markets with ties to its unrivaled roster of brands. Abloh is one of the rare Black designers with a leading role at the top of the fashion pyramid as head of menswear for Louis Vuitton.
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Foot Locker announced it is acquiring atmos for USD 360 million to give them a strategic foothold in Japan, a market it estimates to be worth USD 6 billion. Atmos, focused on a niche of young, discerning shoppers, owns just a slice of that. Its sales last year were approximately USD 175 million. But the deal will still help Foot Locker expand in the fast-growing Asian market, and further into the premium end of sneakers and streetwear.
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Montreal-based retailer SSENSE has received minority investment from Sequoia Capital that values the ecommerce platform at more than CAD 5 billion. This marks Sequoia Capital’s expansion into the fashion industry, and comes after the company took a controlling stake in AMI earlier this year. The company, which specialises in high-end fashion and streetwear, said it’s the first round of external funding in its 18-year history. The capital will allow the company to focus on its global growth strategy, especially it will help to further accelerate its trajectory in China.
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A Bathing Ape has now undergone the successful completion of investment from private equity firm CVC, looking to accelerate BAPE’s global expansion. With the official delisting of I.T from the Hong Kong Stock Exchange, BAPE went on to become an independent company, but will now be co-controlled by CVC with its recent investment into the fashion brand.
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L Catterton, a leading global consumer-focused private equity firm, announced that together with Financière Agache it has acquired a majority stake in global lifestyle brand Birkenstock. In partnership with L Catterton, Birkenstock intends to continue its growth trajectory by investing further in its business and expanding its market leadership in Europe and North America while growing its presence in future markets, particularly in China and Asia.
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UK-based online luxury retailer END Clothing has agreed to divest a majority stake to global investment firm Carlyle Group, valuing the company at more than USD 1 billion. Venture capital firm Index Ventures, which currently holds a minority stake in END, will fully exit from the company after the acquisition, while END founders and CEOs Christiaan Ashworth and John Parker will become minority stakeholders.
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Moncler and Sportswear Company, which holds the Stone Island brand, announced that they have reached an agreement as a result of which Stone Island joins Moncler to develop a new shared vision of luxury. With this transaction, united by their "beyond fashion, beyond luxury" philosophy, these two Italian brands will strengthen their ability to interpret the evolving cultural codes of the new generations and the meaning of luxury fashion.
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When former V magazine art director Peter Poopat and brand consultant Flavio Girolami founded Common Projects ten years ago, the market for premium-priced sneakers was relatively underdeveloped. However, their prescience was soon to be proven by a boom in the luxury sneaker category, which has seen designer labels like Balenciaga, Givenchy and Saint Laurent selling sneakers everywhere from Sneakerboy to Bergdorf Goodman.
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Multi-fashion player VF Corporation and streetwear brand Supreme announced that they have signed a definitive merger agreement. VF is buying Supreme from private equity firm Carlyle Group and investors including Goode Partners. The Carlyle Group paid USD 500 million in 2017 for a roughly 50% stake in the fashion brand, an investment that could double in value based on the latest transaction. VF jumped the most in 33 years after agreeing to buy Supreme for USD 2.1 billion to bolster its portfolio of apparel and footwear brands. The cash transaction is expected to be completed by year end and marks VF’s largest acquisition since it bought Timberland in 2011 for USD 2.3 billion.
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Palace Skateboards' tri-ferg logo has fast become one of the most instantly recognizable and highly-coveted emblems in the streetwear world. Much like Supreme's Box Logo and BAPE's Ape Head, the London brand's icon has made its way onto everything from tees to duffel bags.
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GOAT Group, a Los Angeles, California-based apparel and sneaker retailer, has raised USD 100 million in a Series E round from D1 Capital Partners, continuing to accelerate the company's growth across its product categories and geographies.
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After Louis Vuitton’s men’s Spring Summer 2020 show, Virgil Abloh appeared in front of the cameras in an unexpected electric blue Arc’teryx Rush Jacket underlining the boundary-blurring between sport and fashion, between performance and lifestyle, and bringing outerwear, luxury fashion and streetwear under one umbrella.
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Companies like Rapha, Ryzon, or Soho House have managed to create communities that speak to the human need for belonging. From nature, us humans are social species. People desire an identity and are motivated to become part of a community.
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The world of streetwear was previously based on authenticity and reputation, but since its unprecedented growth in popularity, the scene has grown used to see new players entering the market. Earlier this month, Massachusetts-based footwear and streetwear retailer Concepts quietly confirmed “a relationship” with Amazon’s Zappos subsidiary. “We have been engaged with our friends at Zappos and finalized a relationship that will help Concepts achieve our mission to elevate the customer experience within the boutique industry,” said Tarek Hassan, CEO of Concepts International, in a statement.
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