FINANCE
As Manufacturers, Retailers, Consumers Enter With Caution, What Will 2023 Bring?
By Dorothy Crouch, Contributing Writer | February 2, 2023
With lackluster holiday 2022 sales signaling a slowdown in consumer spending on goods, what new challenges can the apparel industry expect, and how can businesses in this sector navigate the resulting economic hurdles?
G-III Apparel to Purchase Karl Lagerfeld Brand
G-III Apparel Group, Ltd. has agreed to acquire the remaining 81 percent stake in Karl Lagerfeld for $210 million in cash, making G-III the sole owner of the company.
Digital Fashion House The Fabricant Raises $14 Million in Series A Funding Round
The Fabricant, a decentralized digital fashion house that operates at the intersection of fashion, gaming and blockchain, has announced a Series A round of financing led by Greenfield One, an early-stage crypto fund, with additional participation from Red DAO, Sfermion, and Ashton Kutcher and Guy Oseary’s Sound Ventures, among others.
Balance Aims to Simplify B2B Payments
As e-commerce continues to rise and be a significant portion of how the apparel industry does business, many companies are looking for new and innovative ways to transition their accounting processes to be more digital.
NRF Holds State of Retail and Consumer Event, Announces Annual Sales Forecast
The National Retail Federation held its second annual State of Retail & the Consumer virtual event on March 15, which explored the American consumer and key behavior trends that developed during the pandemic and its aftermath.
CIT Announces New Organizational Structure for Factoring Business
CIT, a division of First Citizens Bank, has announced a reorganization of its Commercial Services factoring business.
Allen Matkins/UCLA Anderson Forecast California CRE Survey Predicts Retail Optimism
According to the Winter 2022 Allen Matkins/UCLA Anderson Forecast California Commercial Real Estate Survey, all California real-estate sectors are experiencing positive growth despite still recovering from the pandemic-related recession.
First Citizens Completes Merger With CIT Group
First Citizens BancShares Inc. has merged with CIT Group Inc., creating a top-20 U.S. financial institution and the largest family-controlled bank in the nation.
IMC Acquires Shoppe Object and Shoppe Online
International Market Centers announced that it has acquired Shoppe Object, a design-focused home and lifestyle trade show and its Shoppe Online B2B e-commerce platform.
Industry Focus: Finance—As the world navigates through the COVID-19 pandemic’s new variants, what advice would you offer to apparel professionals?
While a new year has begun, many challenges that were experienced during 2021 remain. The COVID-19 pandemic continues to impact the world as new variants of the virus develop.
ABS by Allen Schwartz Acquired by Five Oak Brand Management Advisors
Celebrating his brand’s 40th anniversary, designer Allen Schwartz announced the acquisition of his Los Angeles label by New York–headquartered Five Oak Brand Management Advisors.
MycoWorks Raises $125 Million in Series C Funding
San Francisco–based biomaterials company MycoWorks announced it has secured $125 million during its latest funding round.
Adidas Signs CMC Lease for 107K-SF DTLA Space Following Renovation
As the California Market Center unveiled its fresh space on Jan. 11, following a $250 million–plus renovation, property manager Brookfield Properties announced that it would welcome global athletic-apparel brand Adidas AG, which signed a lease for 107,000 square feet of space at the downtown Los Angeles site.
DJM and PGIM Real Estate Announce Acquisition of Long Beach Exchange
California-based private-equity real-estate-and-development firm DJM, in partnership with PGIM Real Estate, has announced its acquisition of Long Beach Exchange.
KlearNow Raises $50 Million to Alleviate Global Supply-Chain Constraints
KlearNow, a logistics-as-a-service company founded in 2018, announced it has raised $50 million in new funding to provide supply-chain solutions that simplify and provide real-time cargo visibility.
Brikl Closes New Funding Round Aimed at Hypergrowth
E-commerce software platform Brikl announced it has secured additional funding from Saffelberg Investments.
