×
82 069
Fashion Jobs
BANANA REPUBLIC
General Manager - Tulare Outlet Center
Permanent · Tulare
MACY'S
Asset Protection Detective, Promenade Bolingbrook - Full Time
Permanent · Bolingbrook
MACY'S
Asset Protection Security Guard, Alderwood - Part Time
Permanent · Lynnwood
MACY'S
Asset Protection Officer, Bailey Road - Part Time
Permanent · North Jackson
MACY'S
Asset Protection Detective, Valley Fair - Part Time
Permanent · Santa Clara
CENTRIC BRANDS
Traffic Manager - Montreal - Buffalo Jeans
Permanent · Montreal
OLD NAVY
General Manager-Ward Parkway
Permanent · Kansas City
OLD NAVY
General Manager- South Meadow Square
Permanent · Ithaca
OLD NAVY
Asset Protection Lead
Permanent · Tucson
COTY
Kylie DTC Digital Marketing Manager
Permanent · New York
COTY
Brand Manager, Global Tiffany & co
Permanent · New York
COTY
Assistant Marketing Manager, Fragrance/Bath & Body
Permanent · New York
COTY
Senior Manager Global Marketing
Permanent · New York
NEIMAN MARCUS
Buyer, Men's Sportswear
Permanent · Dallas
NEIMAN MARCUS
Associate Product Manager, Supply Chain
Permanent · Irving
NEIMAN MARCUS
Senior Regional Training Manager - East
Permanent · Boca Raton
ULTA BEAUTY, INC.
Retail Operations Manager
Permanent · Vienna
ULTA BEAUTY, INC.
Retail Sales Manager
Permanent · Hodgkins
ULTA BEAUTY, INC.
Retail Operations Manager
Permanent · Omaha
ULTA BEAUTY, INC.
Retail Sales Manager
Permanent · Kansas City
ULTA BEAUTY, INC.
Buyer
Permanent · Bolingbrook
ULTA BEAUTY, INC.
Retail Operations Manager
Permanent · Louisville
Published
Apr 3, 2017
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Japanese apparel company acquires LA casualwear label Velvet in $37m deal

Published
Apr 3, 2017

Japanese apparel company Adastria announced that it will acquire the LA-based casualwear company Velvet, LLC through subsidiary company Adastria USA, Inc. on April 3, for 37 million dollars (about 4,144 million yen). The Japanese group, which operates 21 brands across Asia, is targeting the North American market with its second investment in the country.


Velvet by Graham and Spencer - アダストリア


 “Velvet will provide a solid platform for Adastria, allowing the company to expand its presence in the North American Market,” said Velvet CEO Henry Hirschowitz. “Furthermore, with Adastria's knowledge in retail and online, we feel strongly that further opportunities for Velvet will materialize. Through the investment, Adastria is targeting the North American apparel market due to positive predictions for future growth.”

In addition to having eight directly-operated stores in the United States and one in the UK, Velvet by Graham and Spencer apparel is also sold in department stores and select shops in the United States and abroad.

“"This latest acquisition allows us to establish a strategic presence in North America and in the world of contemporary fashion, as we seek to transform Adastria into a leading global apparel company,” Adastria COO Masa Matsushita said. "Working together with Velvet's management team, we will accelerate the brand's growth, especially in the direct-to consumer channels."

Adastria also plans to further develop its global brand portfolio through Marine Layer, a San Francisco-headquartered apparel label in which Velvet acquired a minority stake in April 2016.


 

Copyright © 2021 FashionNetwork.com All rights reserved.