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.
Ralph Lauren has sold its Club Monaco brand to private equity firm Regent, L.P., the American fashion company said Thursday. The financial terms of the sale have not been disclosed.
The sale is part of a strategic overhaul announced last year intended to refocus the company on its core brands, the company said. Ralph Lauren also struck a licencing deal for its Chaps brand last year. The deal is expected to close by the end of June, the company said.
Club Monaco, an elevated basics brand founded in Toronto in 1985, was acquired by Ralph Lauren 22 years ago and has remained a relatively small part of the group’s retail business, with 73 directly operated stores worldwide as of December last year.
Earnings season kicks into high gear, with companies riding high and plumbing new lows reporting.
The Japanese apparel chain will be launching its sister brand GU in the US later this year, targeting younger consumers with lower prices and a curated selection of trendy wares.
Canada, France and Ireland are among the countries working with home-grown fashion talent to create uniforms for their teams at this summer’s Olympic Games. For these small labels, it’s an unprecedented opportunity to capitalise on one of sports’ largest events.
The online fashion retailer plans to update China’s securities regulator on the change of the initial public offering venue and file with the London Stock Exchange as soon as this month, a person with knowledge of the matter said.