Dec. 30, 2022: Digital Brands Group Inc. (DBG) announced it has completed its acquisition of lifestyle apparel brand Sundry, and that Sundry has become a wholly owned subsidiary of DBG. In January, DBG announced it had signed a definitive merger agreement to acquire Sundry, and that the transaction was expected to be completed late in the first half of 2022, subject to customary closing conditions and financing. DBG said via statement today that it will provide annual revenue and earnings guidance in January 2023 that will include the revenue and earnings contribution from Sundry. “The Sundry acquisition is expected to contribute significant revenue scale and operating leverage,” DBG CEO Hil Davis said in a statement. “We believe adding Sundry to our Bailey Shop, which is our multi-brand e-commerce site will contribute revenue immediately. Additionally, we are also excited about the large opportunity to expand the Sundry brand into other verticals. We believe that the opportunity to cross merchandise Sundry and their customers to our other brands, add additional product categories and leverage synergies to reduce expenses will be accretive.”

Dec. 23, 2022: Vince Holding Corp. has completed the sale of the intellectual property and certain other assets related to its Rebecca Taylor business to RT IPCO, LLC, an affiliate of Ramani Group. The news marks a major step in Vince Holding’s previously announced plans to wind down its Rebecca Taylor business “given the increased headwinds from the range of macroeconomic and pandemic related issues in the industry,” Jack Schwefel, CEO of Vince Holding Corp., previously stated.

Dec. 20, 2022: Scotch & Soda has inked a new licensing deal with Bos Group International for the design, production and distribution of the brand’s footwear collections for men, women and kids. Starting in December 2022, Bos Group International will execute the wholesale deliveries for Scotch & Soda’s spring/summer 2023 collections and will carry on the development and sell-in for fall/winter 2023. The licensing company will then develop and distribute Scotch & Soda’s footwear collections for the spring/summer and fall/winter seasons each contract year. Bos Group International is taking over the Scotch & Soda footwear licensing operations following the termination of the trademark license agreement with HS Footwear GmbH (part of Osnabrück-based Hamm Group), the brand’s previous licensing partner. Peter Frericks will become the head of global sales and brand manager for Scotch & Soda at Bos Group Footwear B.V. Launched in 2018, the Scotch & Soda footwear line offers spring/summer and fall/winter collections, which feature an average of 15 styles for women, 10 for men and 5 for kids every season. The footwear collections are available in Scotch & Soda’s stores (and shipped to over 70 countries via the brand’s website), as well as in premium fashion and footwear accounts.

Dec. 19, 2022: Simon malls has closed its previously announced strategic partnership deal with real estate firm Jamestown. Under the terms of the deal, Simon will acquire a 50% interest in Jamestown, which owns iconic real estate around the world like the home of the New Year’s Eve Ball at One Times Square in New York City, from founding partners Christoph and Ute Kahl, who will continue to be Jamestown shareholders. Jamestown will operate independently and continue to be led by CEO Matt Bronfman and president Michael Phillips, who will retain their existing ownership. Christoph will transition from day-to-day involvement as the company’s chairman to a member of the new Jamestown board of directors. According to Simon, the partnership will “unlock new value creation opportunities” and create a platform for future growth in the investment management sector. With Jamestown, Simon will gain an opportunity to capitalize on the growing asset and investment management businesses with an experienced fund manager and mixed-use operator and developer, utilizing the Jamestown platform to accelerate Simon’s future densification projects.

Dec. 6, 2022: Archive has secured $15 million in Series A funding. The round is led by Lightspeed Venture Partners with participation from Bain Capital Ventures, Fernbrook Capital, G9 Ventures, and several minority investors, and brings Archive’s total funding to over $24 million. In addition to the raise, Alex Taussig, partner at Lightspeed, will join the company’s board of directors. The resale company – which powers secondhand platforms for The North Face, 3.1 Philip Lim, Oscar de la Renta and more – said this fresh installment of capital comes less than a year after Archive’s seed financing and less than two years since the company launched. The funding will immediately support hiring across engineering and brand success teams to help Archive continue to scale its technology and integrations. It will also enable Archive to meet increasing demand from brands to incorporate resale into their businesses, and accelerate upcoming launches across North America and Europe.

Dec. 1, 2022: Digital Brands Group announced that it closed a $10 million public offering. The collective of luxury and lifestyle brands said it plans to use the proceeds of the offering to fund part of a cash repurchase price from an acquisition, to repay some debt and for general purposes. In April, Digital Brands Group said in a 10-K filing with the Securities and Exchange Commission that it could potentially seek “bankruptcy protection or other alternatives” if it fails to come up with funding to continue running the business.

Nov. 9, 2022: Cos will launch in Mexico next summer with the opening of a flagship store in the country’s capital, Mexico City. The Mexico City store will mark the brand’s first presence in the country and is part of a wider expansion strategy to scale the business globally and attract customers in new markets. Located in Antara, Polanco, the 486 square-meter store will adopt a new more sustainable concept with a circular ambition in design and material choices, marking the third store to roll out the concept to date. “Opening a flagship store in Mexico is an incredibly exciting step for Cos,” Katie Reeves, managing director of North America at Cos, said in a statement. “We are always looking for new markets to introduce people to our brand and are confident Antara is the perfect destination for the launch. I’m looking forward to seeing how customers respond to the brand and engage with our collection.” The new location will open with Cos spring/summer 2023, a collection founded on elevated essentials and unique wardrobe staples.

Nov. 9, 2022: WHP Global has signed a long-term license with leading Chinese luxury fashion retail group YouXiang to market and distribute the Joseph Abboud brand in China across all channels of distribution including e-commerce, freestanding retail stores, shop-in-shops, and  wholesale/franchise. The brand launch in Greater China, slated to begin in spring 2023, will include a full collection of men’s apparel, footwear, bags and luggage, and accessories. “We are looking forward to partnering with YouXiang as we focus on the expansion of Joseph Abboud’s reach through both international and digital channels,” Stanley Silverstein, chief commercial officer of WHP Global, which owns the Joseph Abboud brand, said in a statement. “YouXiang has successfully brought some of the best-known high-end fashion brands to China, making them the perfect partner to help us reach millions of consumers in one of the world’s fastest growing fashion markets.”

Nov. 7, 2022: The American Dream mall has secured four additional years of financing, which is set to expire in October of 2026. Mall owners and operators Triple Five Group announced the financing news, which was led by JPMorgan, on Monday. “American Dream’s success continues to grow with dramatically increasing traffic and spend at the complex”, said Don Ghermezian, president and CEO of American Dream. “We are pleased that our lenders, led by JP Morgan, share in our vision and recognize Triple Five and American Dream’s successful and impactful contribution to the global retail and entertainment landscape.”

 

Nov. 7, 2022: Gap Inc. has inked a new deal to sell its Greater China business to Baozun Inc., which will operate the company’s in-market site and stores under a franchise agreement. As a leading brand e-commerce solution provider and digital commerce enabler in China and a trusted partner of the company since 2018, Baozun has supported the expansion of Gap’s Greater China online business. The transition of the business to Baozun is expected to be complete by the first half of 2023 and until regulatory approvals and closing conditions are met. The news is the result of the strategic review the company announced it would make in Oct. 2020. This sale will allow Gap to serve the market through a more asset-light, cost-effective model and to benefit from the local and technology expertise of Baozun, the company said in a statement.