High-end streetwear site Highsnobiety plans to sell

Highsnobiety, the online magazine focused on high-end streetwear, hired investment bank LionTree to assess a sale after interest from potential suitors, two people familiar with the situation told the DealBook newsletter.

The company expects to generate around $ 60 million in revenue this year and could see the interest of media brands or online retailers attracted by the growing convergence of retail and media.

Highsnobiety, who describes himself as “at the forefront of youth culture,” keeps tabs on the last few drops of sneakers and comments on today’s fashion. As the lines that distinguish media, entertainment, and retail fade, sites like Highsnobiety, Goop, Glossier and others serve as curated, purchasable ezines. Highsnobiety has also ventured beyond digital media, creating its own in-house collection and pop-up stores.

Online luxury has become a hotbed of commercial activity, with sites that can replicate a premium shopping experience (which Amazon can’t) make a lot of money. Yoox merged with Net-a-Porter in 2015, an agreement inspired in part by the editorial capabilities of Net-a-Porter. Ssense, an online retailer of emerging brands and streetwear, raised funds from Sequoia Capital this year for a valuation of more than $ 4 billion.

Streetwear has carved out a place for itself in the luxury industry. Brands like Supreme, Yeezy and Off-White have amassed passionate and well-heeled followers, while traditional luxury vendors like Celine have designed collections that honor the street. High-end sneakers can now sell for over $ 1,000, as trading sites like StockX and Goat have attracted millions of investors to expand their sneaker markets, whose customers view shoes as a form of currency. .

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