Big News in Streetwear!
Apr 1, 2008 Author: admin | Filed under: NewsIn what came as surprising news on a Tuesday morning in Hollywood, California, local streetwear brand The Hundreds has been acquired in a covert high-stakes bidding war by Moet Hennessy - Louis Vuitton S.A., also known as LVMH.
From what has been gathered in a vague press release distributed by LVMH earlier this morning, the French holding company agreed to acquire privately-held The Hundreds is Huge, Inc. in a deal worth approximately $18 million in cash and stock.
The Hundreds, based in the Fairfax District of L.A., designs and distributes apparel that caters to the burgeoning “streetwear” category, a hotbutton forecasting term for what is next in hip, young fashion. Apparently, this is what initially attracted LVMH to the buzzworthy upstart label, which has been having difficulty as of late in maintaining the attention of young consumers. “Streetwear is natural to us,” LVMH CEO and Chairman Bernard Arnault stated at a charity gala last Fall. “After all, Louis Vuitton did create the world’s first all-over-print.”
It seems that Arnault’s sentiments were a prelude to what is already being marked as one of the most-talked about, and scrutinized, business maneuvers in the fashion world this year (This comes days after Gucci announced it’s plans to make skateboarding sneakers.) As one of the world’s largest luxury goods conglomerates, LVMH was formed after mergers brought together champagne producer Moët et Chandon and Hennessy, a leading manufacturer of cognac. In 1987, they merged with fashion house Louis Vuitton to form the current group.
LVMH is also the parent of around 60 sub-companies that each manage a small number of prestigious brands, including Belvedere, Donna Karan, Fendi, Givenchy, and Sephora. These daughter companies are, to a large extent, run autonomously, thus The Hundreds will likely follow suit.
The terms of the agreement include LVMH paying $9 million in cash for the company, issuing 1.6 million restricted shares of LVMH common stock and assuming approximately $32 million in debt. LVMH believes the purchase will be mildly accretive to earnings per share in the current year and estimates it will improve earnings per share by 6 cents in fiscal year 2008.
LVMH is based in Paris, France. The company is listed on the Euronext Paris exchange and is a constituent of the CAC 40 index. As of 2007, the group had a turnover of 15,3 billion euros with a net income of 2 billion euros. LVMH operates over 1,900 stores worldwide. Its current business plan aims to tightly control the brands it manages in order to maintain and heighten the perception of luxury relating to their products. For example, Louis Vuitton products are sold only through Louis Vuitton boutiques found in upmarket locations in wealthy cities or in concessions in other luxury goods shops (such as Harrods in London). This practice contrasts greatly with less exclusive brands which can be bought in shopping malls around the world.
Much props to Bobby and the crew!
Women’s Streetwear Continues to Evolve
Mar 26, 2008 Author: admin | Filed under: ArticlesHellzBellz, considered by many to be one of the premier designers of women’s streetwear, continues to push the envelope with their edgy designs. Lanie, the driving creative force behind the label, recently debuted her newest line and it is certainly getting a lot of attention. Determined to give women more options than frilly ready to wear, Lanie has created designs that resonate with women everywhere that want their clothing to make a statement about who they are. Lanie commented, “I live my life knowing that I’m a strong woman and I have the ability to create my own destiny.”
Stores such as FilthyDripped.com can attest to the rising popularity of streetwear in general, and not only for the male market. Lanie’s newest collection is sure to create quite a stir in streetwear culture and the designs are truly unique. She commented, “When designing a collection, I basically make what I want to see in my closet. This didn’t fall short for my Holiday ‘07 collection, which is set to deliver mid-October to early November. I’ve always had an interest in the early 60’s mod/punk scene in London so I developed a collection with a mod influence but gave it a military twist through the cuts, details and graphics. The military-mod theme isn’t completely literal but its influence is apparent.”
Long ignored by traditional fashion, women who are interested in streetwear often have to settle for wearing men’s trends. HellzBellz has been working to change this since 2005 and the reception has been tremendous. She has been traveling to shows on both costs and her work is certainly in demand, proving that streetwear is still on top, no matter what sex you are. According to Lanie, the type of woman interested in streetwear is, “A forward, non-conforming woman who lives life to the fullest and understands first and foremost that individuality is key. She’s also a strong female who isn’t afraid to speak her mind or express herself freely.”
Wildchild Nation, one of the most popular designers of streetwear recently announced that they were chosen to provide costuming for the latest production of Step Up 2: The Streets, a film in the works from Touchstone. Their Love Understands All Music Line came to the attention of the costume designer there who commented, “street cool, fashion colors and striking styles converge in ‘Love Understands All Music,’ a vibrant, fresh and hip collection.”
Streetwear has maintained its popularity since it got its start in the 1980’s and can be found in special boutiques throughout the country. FilthyDripped.com is one of the most popular stores in California, offering numerous lines from designers and all of the latest trends. The streetwear market has managed to avoid falling into the same trap as traditional designers in the current economy, a fact that is attributed to its edgy design and appeal.
The new collaboration with Wildchild and Touchstone illustrates that streetwear is at the forefront of what is on the minds of the nation. Many of the designs are inspired by music and Wildchild is the perfect illustration of what happens when clothing and music come together. Business partner and co-founder of Wildchild Traci Copeland agrees stating, “Everyone loves music. It sets the tone for much of what we do, and our designs are a reflection of that. Music can be colorful, vibrant, and thought-provoking. This movie is a great platform to showcase that.”
You can see Wildchild Nation’s designs in Step Up 2: The Street, which will be directed by John Chu. As the company’s release pointed out, “Step Up 2: The Streets” proves to be a high impact ride down hip hop street dance culture and fashion.”
Spring Cleaning Sale this Weekend Only 3/14-3/16
Mar 13, 2008 Author: admin | Filed under: News
Ah, yes, cleaning - the one thing that everyone has to do, but never and almost ever truly wants to do. And this coming weekend is no exception to the rule. It’s time to make room for for all the new styles! We’re cleaning out the shop by marking down 30%-60% off everything in-store. That’s right, nothing will be sold for retail price!
This weekend only March 14, 15 & 16 in-store!
Treat the event like a fun spring fling party, while we serve hot dogs and refreshments (while supplies last). Get your Kanye West Stronger Shades, let the light in through those shutters and get loose; as we turn on some upbeat and groovy music to keep your spirits high. Just dance your way inside some jeans or side step to into our fresh shirts!
Be there! Or be squared!
The economy may be hitting the skids, but streetwear designers are managing to keep sales figures high. Stussy, and many other streetwear brands are experiencing an increase of sales, and they continue to release new lines to take advantage of the resurgence of interest in streetwear.
For twenty-eight years Stussy has managed to stay on top, continuing to offer their fans innovations and old favorites. Their new menswear line, Stussy Deluxe was rolled out at the recent Project Global Trade Show in Las Vegas to thunderous applause. Even though many other clothing manufacturers seem to be scaling back in this time of economic uncertainty, Stussy, and even boutiques such as FilthyDripped.com are holding their own.
Scott Terpstra, Stussy’s sales director commented on the increases stating that streetwear is deemed a “must have,” by their customers and has managed to stay liquid because it is “on trend.” Customers would certainly agree and many labels are benefiting from these conditions. Crooks and Castles, a Los Angeles based label has announced numerous plans for expansion and will be debuting new lines throughout the year.
In keeping with what they deem is a changing trend among their consumers, Stussy is changing their lines a little bit and trying to appeal to their core customers that are reaching into the 30’s and looking for merchandise that is not too “youth oriented.” Their new deluxe line featured denim with only a purple dot for the brand logo and they are incorporating much more luxurious fabrics like cashmere into their hoodies. Many claim that they are losing their roots a bit with this switch, but the bottom line may dictate the kind of clothing that the company produces. Despite these changes that have taken the line a little further from its roots, Terpstra commented, “We are an image and brand-integrity company.”
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