Mergers & Acquisitions

Nordstrom Buys Stake in 4 Apparel Brands Owned by UK Fashion House ASOS
July 13, 2021 at 6:22 pm

Nordstrom said Sunday it has acquired a minority stake in four apparel brands owned by the online U.K. fashion house ASOS, reports CNBC. The brands — Topshop, Topman, Miss Selfridge, and the activewear label HIIT — target younger consumers in their 20s. Financial terms of the deal weren’t disclosed. Although ASOS will retain operational and creative control…

Etsy Enters Latin American Market With Acquisition of Brazilian Marketplace Elo7
June 29, 2021 at 4:29 pm

Online crafts marketplace Etsy announced on Monday a $217 million deal to acquire Brazilian online marketplace Elo7, reports CNBC. Etsy CEO Josh Silverman is banking on Latin America to be a growth catalyst for the e-commerce company, calling Elo7 “the Etsy of Brazil.” Similar to Etsy, Elo7 allows merchants to set up an online shop and sell…

PVH Sells 4 Heritage Brands to Authentic Brands Group for $220M
June 24, 2021 at 2:53 pm

PVH Corp entered a definitive agreement to sell its Heritage brands ARROW, Geoffrey Beene, IZOD, and Van Heusen to focus on global growth brands Calvin Klein and TOMMY HILFIGER. The company will sell the four Heritage brands to Authentic Brands Group (ABG) for $220 million in cash. The transaction is expected to close in Q3…

Boxed to Go Public in SPAC Deal
June 14, 2021 at 6:40 pm

E-commerce grocery shopping platform Boxed and Seven Oaks Acquisition Corp., a special-purpose acquisition company, or SPAC, announced they would go public in a deal that would value the combined company at $900 million. Boxed would use the money to serve more households and businesses that started ordering groceries online during the pandemic. The combined company will be called…

Etsy is Buying Secondhand Fashion App Depop for $1.62B
June 2, 2021 at 5:54 pm

E-commerce marketplace Etsy is buying resell fashion app Depop for $1.62 billion, CNBC reported. Depop was founded in the U.K. in 2011, and is popular predominantly with Gen Z shoppers. The app allows consumers to buy and sell used clothes through its online marketplace, and promotes ethical shopping. Etsy expects to finalize the deal by…

Amazon is Buying MGM Studios for $8.45B
May 26, 2021 at 7:21 pm

Amazon.com will purchase MGM Studios for $8.45 billion, CNBC reported. This deal is the second-largest acquisition in Amazon's history, behind its purchase of Whole Foods in 2017 for $13.7 billion. MGM has been looking for a buyer for several years after emerging from bankruptcy in 2010. Mike Hopkins, senior vice president of Prime Video and Amazon…

Walmart Acquires Virtual Fitting Room Company Zeekit
May 13, 2021 at 6:35 pm

Walmart announced that it will acquire virtual fitting room startup Zeekit as it makes a push into fashion and caters to customers shopping for clothes online. Financial terms of the deal were not disclosed. In a post on the company’s website, Walmart U.S. executive vice president of apparel and private brands, Denise Incandela, said customers will…

Barnes & Noble Owner Will Buy Bankrupt Paper Source
May 12, 2021 at 3:46 pm

The owner of Barnes & Noble, Elliot Investment Management, announced it will acquire stationery retailer Paper Source, CNBC reported. The acquisition will give Paper Source the finances it needs to come out of its Chapter 11 bankruptcy. According to CNBC, Barnes & Noble CEO James Daunt will oversee both companies. The two businesses may partner…