The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Ralph Lauren has sold its Club Monaco brand to private equity firm Regent, L.P., the American fashion company said Thursday. The financial terms of the sale have not been disclosed.
The sale is part of a strategic overhaul announced last year intended to refocus the company on its core brands, the company said. Ralph Lauren also struck a licencing deal for its Chaps brand last year. The deal is expected to close by the end of June, the company said.
Club Monaco, an elevated basics brand founded in Toronto in 1985, was acquired by Ralph Lauren 22 years ago and has remained a relatively small part of the group’s retail business, with 73 directly operated stores worldwide as of December last year.
Nordstrom, Tod’s and L’Occitane are all pushing for privatisation. Ultimately, their fate will not be determined by whether they are under the scrutiny of public investors.
The company is in talks with potential investors after filing for insolvency in Europe and closing its US stores. Insiders say efforts to restore the brand to its 1980s heyday clashed with its owners’ desire to quickly juice sales in order to attract a buyer.
The humble trainer, once the reserve of football fans, Britpop kids and the odd skateboarder, has become as ubiquitous as battered Converse All Stars in the 00s indie sleaze years.
Manhattanites had little love for the $25 billion megaproject when it opened five years ago (the pandemic lockdowns didn't help, either). But a constantly shifting mix of stores, restaurants and experiences is now drawing large numbers of both locals and tourists.