3 months ago

OFF-WHITE™ BACKER NEW GUARDS GROUP TAKES MAJORITY STAKE IN AMBUSH

The Farfetch-owned company has added to its roster. New Guards Group, the Milanese company behind labels including Off-White™ and Heron Preston, has taken a majority stake in Yoon Ahn and Verbal’s AMBUSH label. The Japan-based brand is the latest addition to the parent company’s portolio, which also includes Palm Angels and Peggy Gou’s Kirin label. New Guards Group was purchased by Farfetch for $675 million USD in August 2019. Announcing the acquisition to Business of Fashion, New Guards Group co-founder, chairman and chief executive Davide De Giglio spoke about the difference between the brand’s recognition and annual sales (estimated at $22 million USD). “They did the right thing, they kept the market clean, they chose the best [wholesale], they did the right co-branding. That’s the reason why the name is maybe bigger than the business.” Also speaking about the news, AMBUSH co-founder Ahn added that “we have established a very clear [idea of] what AMBUSH is about, visually, in terms of jewelry, and we can start implementing those elements into other categories at this stage.” Following the acquisition, AMBUSH is set to grow its reach with more international stockists and new categories. Additionally, a large section of its ready-to-wear production will now be produced in Italy, although some categories including jewelry and denim will remain in Japan. The brand is also set to open its own retail locations outside of Japan.

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