Posts tagged with "Fashion Dive"

Guess and WHP to acquire Rag & Bone

February 21, 2024

Guess Inc. and WHP Global have reached a definitive agreement to acquire Rag & Bone, reports Fashion Dive.

Founded in 1981, Guess is clothing copy best-known for its denim jeans and fashion accessories. WHP Global’s brand portfolio generates approximately $4 billion in annual retail sales, and includes Joe’s Jeans, Anne Klein, Joseph Abboud, Lotto, and Toys“R”Us.

Under the deal, Guess will pay $56.5 million to acquire Rag & Bone’s operating assets; while Guess and WHP will both own Rag & Bone’s intellectual property through a joint venture. Guess and the joint venture will enter a licensing agreement, which gives Guess the exclusive right to use Rag & Bone’s intellectual property (IP) to manufacture Rag & Bone products worldwide and sell products in specified territories in exchange for Guess’ payment of a royalty fee.

Rag & Bone will operate as an independent fashion brand under the Guess portfolio. The deal is expected to close during the first quarter of Guess’ 2025 fiscal year.

The deal also includes a potential earnout in which Guess will be responsible for up to $12.8 million, based on Rag & Bone’s sales performance over the course of its 2024 fiscal year.

Rag & Bone, which was founded in 2002, will continue to be based in New York. It operates 34 stores in the U.S.A. and two in the U.K. and is also available in boutiques and department stores and through e-commerce, per the release. In 2023, the brand reported approximately $250 million in revenue.

The acquisition of Rag & Bone brings another denim brand to WHP’s fashion holdings (as well as to Guess). Last year, it acquired a majority interest in G-Star Raw.

Research contact: @fashiondive

Banana Republic launches collab with Peter Do

October 17, 2023

On Tuesday, October 10, Banana Republic launched a capsule collection designed by Helmut Lang’s creative director Peter Do, reports Fashion Dive.

The 28-piece ‘genderful’ line, first announced in August, comes in neutral monochrome black, white and khaki. Pieces include trench coats, a leather shirt, tuxedo suiting, sweater tops, a dress, silk scarves, and a leather bag—and everything is designed using “inspiration pulled from the Banana Republic archives,” per the release from the company.

The line is available via Banana Republic e-commerce platform and in select Banana Republic stores in the United States, Canada, and Japan, and it’s not cheap: Prices range from $100 for tank tops and scarves, to $1,200 for outerwear.

Details such as a vintage map of Brooklyn in the underlining of a trench coat and printed on shirts, a dress, and a scarf add interest to the otherwise subtle looks, and highlight New York City, where Do launched his namesake line in 2018. Other graphic elements include a sketch of a banana on a sweater, a tee-shirt, and a scarf. The line also features mixed materials such as leather details on knit pieces and a removable shearling collar on a trench coat.

“For BR x Peter Do, we focused on universal pieces designed with an eye towards versatility, wearability, and a timeless point of view,” Do said in the release. “We both believe in quality and the end goal is to dress people in clothes that they will want to rewear with a feeling of newness each time.”

Do showed his first collection for Helmut Lang during September’s New York Fashion Week, and debuted at Paris Fashion Week later that month with a spring-summer 2024 line under his own name.

“BR x Peter Do allows our brands to reach a new consumer who is passionate about fashion and culture,” Meena Anvary, Banana Republic’s head of Marketing, said in the release. “The intersection of our heritage and Peter’s unique design sensibility creates a fresh, effortless look to support our customers’ multi-dimensional lives. We are excited to offer a collection that will be a mainstay in wardrobes for years to come.”

Research contact: @BananaRepublic