The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Investment firm Mirabaud Asset Management said Thursday its Lifestyle Impact & Innovation fund, run in partnership with David Wertheimer, has injected an undisclosed sum in the streetwear-focused media company and e-commerce platform.
As well as providing capital, the fund is working with Highsnobiety on developing its management strategy, bolstering brand recognition and developing offline experiences, the release said.
It is one of six investments recently completed by the fund following a €56 million ($66.5 million) raise in November 2020. Other investments include Intrepid, a digital services provider powering South East Asian marketplace platforms.
Learn more:
How Luxury Came to Love Streetwear Sites
To reach millennials, luxury brands like Gucci and Louis Vuitton are partnering with influential streetwear sites Highsnobiety and Hypebeast.
L Catterton, the private-equity firm with close ties to LVMH and Bernard Arnault that’s preparing to take Birkenstock public, has become an investment giant in the consumer-goods space, with stakes in companies selling everything from fashion to pet food to tacos.
Any fashion company that is contemplating going public needs to have not only the product and brand fundamentals right but also a business strategy that can easily be understood by the markets, writes Imran Amed.
Consumer spending increased just 0.8 percent last month as the labour market cools.
The US economy grew at a slightly less brisk pace than initially thought in the second quarter as businesses liquidated inventory, but momentum appears to have picked up early this quarter as a tight labour market underpins consumer spending.