Highsnobiety, the net journal targeted on high-end streetwear, has employed the funding financial institution LionTree to weigh a sale after curiosity from potential suitors, two individuals acquainted with the scenario instructed the DealBook publication.
The corporate expects to herald about $60 million in income this yr and will see curiosity from media manufacturers or on-line retailers enticed by the rising convergence of retail and media.
Highsnobiety, which describes itself as “on the forefront of youth tradition,” retains tabs on the newest sneaker drops and feedback on the style of the day. Because the traces distinguishing media, leisure and retail blur, websites like Highsnobiety, Goop, Glossier and others function curated, shoppable on-line magazines. Highsnobiety has additionally ventured past digital media, beginning its personal in-house assortment and pop-up retailers.
On-line luxurious has turn into a hotbed of deal exercise, with websites that may replicate a premium purchasing expertise (that Amazon can’t) fetching massive cash. Yoox merged with Web-a-Porter in 2015, a deal impressed partly by Web-a-Porter’s editorial talents. Ssense, a web based retailer of rising and streetwear manufacturers, raised funds from Sequoia Capital this yr at a valuation of greater than $4 billion.
Streetwear has carved out a spot within the luxurious trade. Manufacturers like Supreme, Yeezy and Off-White have amassed passionate, well-heeled followings, whereas conventional luxurious purveyors like Celine have designed collections honoring the road. Excessive-end sneakers can now promote for greater than $1,000 as buying and selling websites like StockX and Goat have introduced in hundreds of thousands from traders to increase their sneaker marketplaces, whose clients deal with footwear as a type of foreign money.