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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When Swiss-based footwear company On Running debuted on the New York Stock Exchange Wednesday morning, it did so in style—while also staying true to its mission and brand. On’s founders, along with about 100 other runners, jogged along the Hudson River en route to Wall Street, where the company’s leaders rang the NYSE’s opening bell, officially making their business a publicly traded company.
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adidas has entered into a definitive agreement to sell Reebok to Authentic Brands Group (“ABG”) for a total consideration of up to EUR 2.1 billion, with the majority to be paid in cash at closing of the transaction and the remainder comprised of deferred and contingent consideration.
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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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Depop, the fashion resale marketplace beloved by Generation Z, will be acquired by Etsy for USD 1.6 billion, underscoring the growing influence of clothing resale platforms. Etsy aims to advance its leadership in community-driven and differentiated marketplaces within the rapidly growing resale sector, especially serving the upcomingGen Z audience, offering an ideal fit with Etsy's marketplace M&A criteria.
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YEEZY’s Kanye West at the Gap, Fear of God’s Jerry Lorenzo at adidas, Aimé Leon Dore’s Teddy Santis at New Balance, Pyer Moss’ Kerby-Jean Raymond at Reebok, and now Noah’s Brendon Babenzien, at J. Crew. Not to forget the moves of Virgil Abloh at Louis Vuitton and Kim Jones at Dior. Taken together, these shifts symbolize more than the latest round of designer musical chairs. The same designers that giant brands would not have considered just five years ago are now being completely relied upon to breathe new life into multi-billion dollar brands.
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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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In a world still coping with the Covid-19 pandemic, social media weekend feeds of parties and restaurants are no longer on the agenda. Instead, consumers of all ages are donning leggings, pounding pavements, doing burpees in their living rooms and posting their progress on platforms such as Strava or Nike Run Club. Online fitness communities have soared over the last 12 months in response to the closure of gyms and restrictions on spectators at sports events. For many, outdoor pursuits are helping to beat lockdown boredom and provide a sense of purpose to the dullness of daily life in a pandemic.
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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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Just a few years ago, most luxury brands stayed out of the consignment and resale conversation. Some went so far as to speak against it, wary of counterfeit goods or the prospect of losing their market share. Gucci has recently announced a partnership with The RealReal, including a special Gucci e-shop stocked with consignors’ items as well as merchandise brought in directly from Gucci.
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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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Gymshark, the fitness community and apparel brand, has announced it will enter a strategic partnership with General Atlantic, a leading global growth equity firm, in its first-ever fundraise, valuing the business at over GBP 1 billion, benefiting from the latest trends in the fitness industry and among direct-to-consumer brands.
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