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.
Read MoreMontreal-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.
Read MoreA 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.
Read MoreL 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.
Read MoreUK-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.
Read MoreWhen 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.
Read MoreMulti-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.
Read MoreGOAT 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.
Read MoreGolden Goose, the Italian brand whose deliberately scruffy-looking trainers sell for as much as GBP 1,000, has been sold for just under Euro 1.3 billion from The Carlyle Group to Permira, the private equity firm that also owns Dr Martens and recently acquired Reformation. Permira will buy the business from the US buyout group, which acquired the firm for Euro 400 million just three years ago.
Read MoreThe 20-time Grand Slam tennis champion is taking a big step toward life after tennis with On Running, a Swiss running brand with a cult following and global ambitions. Despite stressing that he is far from finished playing on the World tour, Federer has started to look at what comes next as he has become an investor in On, which was started in 2010 in Zurich.
Read MoreThe online clothing resale market has expanded 21 times faster than regular retail since 2016 and it is expected to more than double in size reaching USD 41 billion in the next three years, according to a report by online reseller ThredUp. With revenue increasing, brands and retailers that previously disliked resellers profiting from their wares are forced to act and acquire these up and coming players, in order to play a role in this market.
Read MoreAfter the Stadium Goods takeover by Farfetch and GOAT merging with Flight Club last year, Foot Locker has announced a USD 100 million investment in GOAT entering the fast-growing USD 6 billion global sneaker reselling market.
Read MoreFarfetch announced that it is acquiring sneaker and streetwear marketplace Stadium Goods in a deal that values the business at USD 250 million. The London-based fashion e-commerce platform is aiming to extend its reach in the growing luxury sneakers and streetwear market, as millennials account for a growing percentage of luxury sales and competitors are engaged in a digital land grab.
Read MoreThe 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.
Read MoreAfter the announcement of LVMH Luxury Ventures investing into Stadium Goods, GOAT, the world’s leading digital sneaker marketplace, today released a public statement revealing a merger with sneaker consignment pioneer Flight Club. The merger brings together two leading brands in the sneaker space that combined, will deliver unparalleled mobile, web and retail shopping experiences.
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