the street and fashion world was met with the shocking sale of over 90% of A Bathing Ape and its parent company NOWHERE to Hong Kong fashion conglomerate for minute sum of less than $3 million USD. In an article by Neojaponisme‘s W. David Marx, he parlays his own personal experience with A Bathing Ape and details its subsequent up and down success over the last 10 years which ultimately led to the sale of the brand. Many have speculated as to why the brand was sold for so little, however the Wall Street Journal painted a sobering picture in regards to how I.T is now in possession of NOWHERE’s ¥2.6 billion JPY (approximately $32 million USD) in debt. Looking back at Marx’s article, he speaks about the downfall of BAPE, it’s slight resurgence thanks to Pharrell Williams, and its relationship possessed between A Bathing Ape and the Chinese market. Ultimately, the sale of such a defining piece of Japanese fashion will leave many uneasy but then again, the Japanese economy has been slumping for some time. With ageism becoming a defining factor in its lack of progression on a corporate level, there seems to be larger issues than just the sale of a popular fashion brand. Excerpts can be seen below while the full article is seen
here.
