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.
Antitrust enforcers said Tapestry’s acquisition of Capri would raise prices on handbags and accessories in the affordable luxury sector, harming consumers.
As a push to maximise sales of its popular Samba model starts to weigh on its desirability, the German sportswear giant is betting on other retro sneaker styles to tap surging demand for the 1980s ‘Terrace’ look. But fashion cycles come and go, cautions Andrea Felsted.
The rental platform saw its stock soar last week after predicting it would hit a key profitability metric this year. A new marketing push and more robust inventory are the key to unlocking elusive growth, CEO Jenn Hyman tells BoF.
Nordstrom, Tod’s and L’Occitane are all pushing for privatisation. Ultimately, their fate will not be determined by whether they are under the scrutiny of public investors.