The Indicator | May 17th, 2024

By Sonal Gandhi
Chief Content Officer at The Lead

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In the news this week, brands are capitalizing on the growing craze for European/global sports among young Americans. Brands like Pacsun and Palm Angels are designing for the Miami Grand Prix while U.K.-based Classic Football Shirts, makers of retro vintage soccer jerseys, received funding from Chernin Group for building brand awareness and US expansion. From motorsports and soccer to pickleball and basketball, sports apparel is having a moment right now – to hear about how some of the newest entrants like Overtime are engaging young consumers join us at The Lead Summit on July 10th and 11th in NYC.

'Happenings'

'INNOVATION MOVES'

  • GU, sister brand of Uniqlo, is setting up first permanent shop in SoHo and online in the U.S. this fall. GU (pronounced as the letters “G” and “U”) is lower-priced and more trend-driven, and currently operates primarily in Japan. (Chain Store Age)
  • As motorsports like Formula 1, Indycar, and Nascar become increasingly popular, motorsports-themed apparel lines are going beyond simple fan gear. Italian luxury fashion label Palm Angels partnered with the Haas F1 Team to launch a collection just in time for the Miami Grand Prix while Pacsun also unveiled exclusive merchandise for the Miami race weekend. Additionally, Nascar inked a deal with headwear and apparel brand ’47 earlier this year. (Modern Retail) 
  • Uber announced an expanded partnership with Costco to have the club retailer available on Uber Eats in several locations across the U.S., Canada, Mexico and Japan. (Retail Dive) 
  • Wayfair is opening its first brick-and-mortar location this month. The 150,000-square-foot, two-story store in Chicago will feature a cafe and a number of home vignettes separated by style. (CNBC) 
  • Substack is becoming a place for brand founders to recommend products and build followings. (Vogue Business) 
  • Sperry is riding the preppy look moment by updating the classic boat shoe with collaborations, bold colors, new materials and storytelling around those core styles. (Glossy)
  • Victoria’s Secret is bringing back its fashion show this fall after a six-year hiatus. According to the brand, the show “will reflect who we are today, plus everything you know and love — the glamor, runway, wings, musical entertainment, and more!” (In Style)

A MESSAGE FROM OUR PARTNER

Outerspace 3PL fuels high-growth brands with cost-effective, enterprise-level omni-channel fulfillment, delivering reliable post-purchase customer journeys. With 1MM SF of bicoastal warehouse space, we combine stability and scalability with high-touch services for customer acquisition and loyalty.

'Financial Moves'

  • The Chernin Group invested $38.5 M in Classic Football Shirts.
  • VF is considering selling Supreme.
  • Shipping logistics startup Harbor Lab raises $16M Series A led by Atomico.
  • Nadja Swarovski acquired a majority of Really Wild Clothing viz Pegasus Capital Bidco Limited.
  • BreathableBaby (infant sleep) was acquired by Halo Dream, Inc. (FKA Aden & Anais, Inc.).
  • ROKSANDA (luxury womenswear) was acquired by The Brand Group.
  • ARTDECO (beauty brand) sold a majority equity stake to Sodalis Group.
  • Homage (vintage licensed apparel) received an investment from Maximum Effort Investments (backed by actor Ryan Reynolds).
  • City Chip Cookies (gourmet cookies) raised a $7.5M from Enlightened Hospitality Investments.
 

Financial Moves Powered by MMG Advisors

'Career Moves'

 

Career Moves Powered by JBC 

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