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.
The parent of lifestyle brands OpenSpaces and EqualParts has raised $60 million of debt and equity capital to acquire home-centric goods brands, its next phase of expansion. Pattern, launched in 2019, also announced on Tuesday its first acquisition is kitchen accessories brand GIR.
GIR will be available on the company’s curated e-commerce site PatternBrand.com. The newly relaunched site aims to centralise shopping across the growing category of home goods products.
The team behind Pattern was formerly Gin Lane, a design agency which worked on the brand of many DTCs including the likes of Harry’s and Sweetgreen. The agency helped create over $15 billion worth of market share across industries including fashion and beauty.
Pattern hope to acquire more brands on board going forward to “reimagine what a successful exit looks like for a DTC brand,” according to Suze Dowling, co-founder and chief business officer.
Consumer spending over Thanksgiving Weekend may have exceeded expectations, but shoppers may be stretching their wallets too thin, analysts say.
A small but growing online fashion community is practising a more critical form of consumption, marrying the quiet luxury trend with a desire for value and environmentally responsible products.
With consumers expected to buy less this holiday season, categories poised to outperform the industry include off-price and personal care. But brands can still appeal to shoppers by conveying a sense of value, whether through discounts or a point of differentiation.
More than a handful of brands confirmed reports of chronic late payments that sparked some vendors to halt shipments to the US department store. Owner Hudson’s Bay Company said it raised $340 million to help fund its retail operations.