FINANCE
FashionGo’s Dynamic Net Terms Solution Provides Three Levels of Yes
By Christian Chensvold, Associate Editor | April 9, 2024
The California Apparel News sat down with Paul Lee, CEO of NHN Global, owner of FashionGo, to learn the details of...
Fashion Nova and Afterpay Announce New Partnership
Afterpay and Fashion Nova have partnered together to offer shoppers a more flexible way to pay.
Riata Capital Group Announces Closing of WSS Sale to Foot Locker
Riata Capital Group, a Dallas-based private-equity investment firm, has announced the closing of the sale of West Coast–based WSS, a premier specialty retailer of athletic, fashion, and work-related footwear and accessories, to Foot Locker for $750 million in cash subject to customary agreements.
Moss Adams Announces Planned CEO Change
Moss Adams, one of the largest accounting, consulting and wealth-management firms in the United States, recently announced the selection of Eric Miles as the next chairman and chief executive officer effective April 1, 2022.
ABG to Acquire Reebok From Adidas
Authentic Brands Group, a global brand owner, marketing and entertainment company, announced on Aug. 12 that it had entered into a definitive agreement to purchase Reebok from Adidas.
Industry Focus: Finance
As consumers shop in the midst of back-to-school season, how should apparel-industry professionals guarantee a strong finish as they head into fall?
ThredUp Acquires Remix, Launches Public Offering
ThredUp Inc., one of the largest online resale platforms for women’s and kids’ apparel, shoes and accessories, has entered into a definitive agreement to acquire Remix Global AD.
White Oak Forms National Retail Finance Group
Expanding its commitment to retail, White Oak Commercial Finance, which is an affiliate of White Oak Global Advisors, LLC, announced that it has formed the National Retail Finance Group.
Afterpay, Westfield Partner to Offer New Payment Option to Consumers
The buy-now, pay-later platform Afterpay and Unibail-Rodamco-Westfield, owner of Westfield shopping centers across the United States, have announced an integrated, multiyear partnership to support retailers and help consumers by offering the latter a more flexible way to pay for purchases as foot traffic begins to return to stores.
Torrid Closes Above IPO Price as Body-Positivity Movement Grows
Following the initial public-offering price of $21 per share, the City of Industry, Calif., expanded-size brand Torrid closed at $24.15 per share on July 1, up $3.15, for a 15 percent increase on its first day of trading.
Joor Raises $46 Million to Grow Wholesale Capabilities, Expansion
Joor has raised $46 million in Series D funding for the company’s investment in platform innovation, payments and financing, and continued global and vertical expansion.
Etsy to Purchase Brazil-Based Elo7, Establish Presence in Latin America
Elo7, a privately held marketplace for unique, handmade items, will be acquired by Etsy, Inc., for $217 million after a definitive agreement is signed.
White Oak Appoints Mike Earnhart as Managing Director of Originations
San Francisco–headquartered White Oak Commercial Finance, LLC, announced that Mike Earnhart has been appointed managing director of originations.
Ssense Announces Investment From Sequoia Capital
Global-technology platform Ssense has received a minority investment from Sequoia Capital, which will afford to the Montreal-headquartered firm a post-money enterprise value of over $5 billion CAD, or $ 4.1 billion USD.
Etsy to Acquire Depop in Deal Valued at Over $1 Billion
In a multi-billion-dollar agreement, e-commerce giant Etsy will acquire peer-to-peer social shopping application Depop. The deal will see Etsy, the two-sided online marketplace with millions of buyers and sellers from around the world, acquire 100 percent of Depop’s share capital in exchange for $1.625 billion. The transaction is expected to close during the third quarter of 2021.
FIS Selected to Manage, Process CEX.IO’s New Cryptocurrency Debit Cards
With crypto-based consumer cards becoming more readily available, CEX.IO is adapting and evolving for the future by tapping FIS, a financial-technology leader in its own field, as the platform to support a new line of crypto-based consumer cards across Europe.
