← The Business of Fashion Podcast
The Business of Fashion Podcast
Fashion’s M&A Market is Heating Up
00:26:13
The Debrief unpacks the forces driving new deals, which brands could be next, and what buyers are looking for in 2025.
Loading summary
Transcript48 lines
- [00:00]
Shopify Ad
It's 2025 and you're wondering, how can I make this year different? How can I turn my business idea into reality? Shopify is how. Shopify makes it easy to launch your brand, get your first sale and manage everything from shipping to payments all in one place. Don't wait. Start building today and make 2025 the year your idea becomes a reality. With Shopify, your first sale is closer than you think. Established in 2025. Has a nice ring to it, doesn't it? Sign up for your $1 per month trial period at shopify.combof all lowercase go to shopify.combof to start selling with Shopify today. Shopify.combof.
- [00:49]
Brian Baskin
Hello, and welcome to the Debrief from the business of fashion, where each week we delve into Our most popular BoF professional stories with the correspondents who created them. I'm editor Brian Baskin.
- [01:00]
Sheena Butler Young
And I'm senior correspondent Sheena Butler Young. From heritage brands looking for new owners to startups deciding whether to sell or wait for bigger paydays, 2025 could be the year at long last that the M and A space finally heats back up. So who's buying, who's selling, and what does it all mean for the future of fashion?
- [01:18]
Brian Baskin
Joining us today is BoF correspondent Malik Morris, who's been closely tracking the latest fashion M and A activity. How. Hello, Malik, and welcome to the Debrief podcast.
- [01:28]
Malik Morris
Hi, Brian and Sheena. Thank you so much for having me back. I'm so excited to dive into the crystal blue waters of fashion M and a in 2025.
- [01:36]
Sheena Butler Young
So, Malik, I set this conversation up by mentioning that 2025 could be the year that M and A heats back up. Because 2024 was also supposed to be the year that M and A heated back up, but that didn't materialize. So I want us to start by you sort of walking us through the flurry of deals that have happened in just the last few weeks.
- [01:54]
Malik Morris
Yeah, so actually it's so interesting because, like in the first 10 days of 2025, in January alone, brands like True Religion, Christian, Lacroix, this French luxury children's wear brand, Bonpant, were sold to holding companies and private equity firms. And it's interesting enough because you're saying 2024 was the year that deals didn't happen, but the 2025 sort of blitz in the beginning of the year was actually on the heels of deal that happened in December, like LVMH backed PE firm El Catiton actually bought a majority stake in this Japanese menswear label called Capital. The British shirt maker Thomas Pink, that used to be owned by lvmh, was sold to this brand management company called CP Brands Group. And Vera Wang, which I'm pretty sure lots of people are familiar with, sold to a brand management firm called WHP Global, which is also known for being in business with Express as well. And also Nordstrom went private as well. So a lot of activity happening in such a tight timeline, but, you know, none of it was like the sexy acquisitions like an Estee Lauder buying Tom Ford or Ashine or Skims going public. But a lot more activity than we've seen, you know, in 2023 and most of 2024 as well.
- [03:04]
Brian Baskin
Yeah, we're going to get into what changed in the market for all these deals to happen. But I'm sure there is some subset of our listenership that is wondering, why do I care who owns Capital or Vera Wang? Like, what's the difference? To me as a shopper or even someone in the industry, why do these deals matter?
- [03:21]
Malik Morris
Well, I think for one, brands need resources to build and to grow. And, you know, having those resources means that, you know, the product quality gets better. It means that they're in more places, they can open up more stores. If you love a brand and you live in a city that doesn't have a store near you, having more resources mean they can open one up. And a part of doing that can be just raising money, but another part of that is actually just being sold to, whether it's a private equity firm that can pump money into a brand or another company that may be a brand itself or just holds other brands, like a holding firm can be a source of being able to do that and to grow. And also, you know, there are brands that have scaled, you know, whether they've had investor money to do so, that are looking for an exit after they reach a certain level, like 100 million in sales, so they could go public and then deal with the public market scrutiny, or they can get bought by other companies that can be really there to pump resources and take them to the next level. And there are also smaller brands, you know, like capital or what have you, that maybe aren't, like, hugely, you know, big in sales and things of that nature that also need resources to build their brands. And doing so independently can be really hard. So there's quite a few reasons for brands to traffic in M and A. And I think for the consumer standpoint, if you really love a brand, you want to see it grow and improve. You want to see it be ubiquitous and like being in any city that you go and want to shop in. And you also want to see the quality of the product get better and them being able to afford better materials and maybe expand their supply chain and things of that nature. So that's why I think, you know, is important for anyone who cares about fashion, the fashion industry.
- [04:59]
Brian Baskin
Although the flip side of that is there's another category we haven't really talked about, which is the managed decline M and A where there's a brand that's really fading and its best days are clearly behind it. Maybe the original designers left. There's not a lot there and there's companies that specialize in milking the last drops is maybe a cynical way to talk about it, but they're basically finding a way to keep the brand alive at all. Even if that might mean, you know, slapping logos on different products or doing some unusual things with it.
- [05:27]
Malik Morris
Definitely.
- [05:27]
Sheena Butler Young
And Malik, you mentioned this earlier, but what we're seeing happening in the first 10 days of 2025 are the results of months of buildup and things that have happened that precede a deal actually being announced. What are some of the things that are driving this wave right now?
- [05:41]
Malik Morris
Yeah, so I think actually it's really good to kind of have back up and go back to 2022 when a lot of things start to get into flux. So after like a decade of near zero interest rates where every startup under the sun was raising more money than they needed to, quite frankly, starting in like 20, I believe, interest rates were skyrocketing and reaching like 50 year highs. So investors were already ready to pull back on funding companies, let alone buying them outright. Then inflation obviously was going up and that was causing consumer spending slowdown that really impacted many fashion brands because people can't think about buying an overpriced leather bag when they can barely afford eggs. So when brands that were seeing their sales slow and needed a cash infusion or to be rescued outright, investors were completely sour on consumer brands in general and the fickle nature of fashion more specific. So basically high interest rates and an unhealthy economy froze the M and A market for about two years. But fast forward to 2024. In September, the US Federal Reserve cut interest rates for the first time since the pandemic. So you know, there was optimism about around inflation possibly coming down. And retailers also had reported strong holiday sales in 2024, although a lot of that was like, due to like discounting consumers were buying and that matters. And lastly, and perhaps most unsettlingly probably Trump's coming back into office is driving optimism. His promises of a business friendly environment with potential tax cuts for companies despite threats of higher tariffs and Lina Khan leaving the Federal Trade Commission, the threat of deals being blocked, like what happened with Tapachi and Capri, which he reported on, is receding. So that's also adding to the optimism. So all things considered, investors and bankers are definitely looking to make some deals this year.
- [07:24]
Brian Baskin
And just to fill in the details there, Lina Khan was the head of the Federal Trade Commission and had taken a very aggressive stance against large deals in many industries, including fashion, and blocked the deal for coaches owner Tapestry to buy MICHAEL kors, owner, CAPRI yes.
- [07:42]
Sheena Butler Young
You know, another thing I was thinking as you're speaking is that the brands that are on the selling block, they have to consider where they want to be bought and what a good deal looks like to them. Can you talk about some of the considerations if I'm courting suitors, what I'm looking for as a brand?
- [07:54]
Malik Morris
Well, I mean, I think that's a great question because really what is at stake here is for you to even be considered because there are brands that are desperate and you know, we call those fire sales and they just need anyone to buy them so they can survive. But if you actually are thinking about suitors and you're able to, you know, have any sort of discernment around it, it means that you have a business that is valuable. And so there are good brands out there with good bones that have, you know, ebbs and flows, but have managed to stay in consumer consciousness for decades. You know, true religion we brought up earlier, for example, has been smart about tapping into the its biggest fan base, you know, the hip hop community in a very authentic and endearing way. And capital, another one we mentioned earlier, has really retained its focus on craftsmanship and ability to blend Japanese motifs with Americana. And I bring that up to say that what these good brands with good bones needs are good stewards to help them find the best resources to expand without hurting the legacy, whether that be money or retail networks or supplier relationships. So it's important to have the resources you need to maintain relevance and compete for consumers attention. And the acquisition that these brands have secured should provide them with that. So that's really the main focus. If you are in the fortunate position to actually be able to select who is going to be your suitor, who is going to buy you is like who is going to take care of my brand and who is going to give me exactly what I need and not force me to scale beyond what I should be scaling to or give me resources they think that I should have or that they are willing to give me. Like who is going to work with me based on what it is of the needs of the business and understand what we're going for. So yeah, I think that those are like the biggest considerations.
- [09:33]
Brian Baskin
And it seems like that might also explain why there have been so few deals, especially these ones that we've been anticipating. The really hot direct to consumer startups and the big independent luxury brands that people think, hey, someone's going to buy them at some point. Right. And it never seems to happen. What is that mismatch?
- [09:50]
Malik Morris
Yeah. So there are lots of brands out there that have managed to grow past 100 million and do so profitably at a time when it's expensive to find customers and consumers. Consumer spending isn't as robust as it was a few years ago. And like that is quite commendable. It means that you have an actual brand that people care about. And a couple years ago when I first joined BoF, it was like, most of these brands are unprofitable and not doing well. But in the past two years I've actually covered a lot of brands that are doing really, really well. But I think the sticking point there is that those brands want to be rewarded for the work that they've done to grow profitably at a time when it's really, really tough to do so. And they want to be rewarded with like a billion dollar valuation or something close to it. Investors are not there yet with offering those valuations if they' there again. You know, there are also brands that got billion dollar valuations and weren't able to justify it. A lot like public market brands like Allbirds and others that we've seen really tank in really, really incredible ways. So I think that that mismatches brands feeling like we've done our job in proving that we deserve to exist. So if you're going to buy us, cough up that money and give us exactly what we need. And investors are saying, well, we're easing back into this and the valuation that we used to see probably were way too to begin with. And so you're seeing a lot of brands that are just going to hold off and wait until investors are maybe more malleable and give them the valuation they want. The right time for them to sell in their mind is when strategic or PE firms with a proven track record of nurturing and scaling brands come knocking with a Great offer and the promise that they will keep the soul of the brand intact.
- [11:27]
Brian Baskin
But can these brands afford to wait forever? I mean, let's take your favorite brand, True Classic, which makes T shirts, and they've been opening a lot of stores. Their revenue is growing pretty quickly. They've definitely got their sights set on one of those billion dollar valuations and I'm sure would love for someone to come and offer them that for the company. But let's say we're five years away from that happening. What do these brands do in the meantime?
- [11:50]
Malik Morris
Well, you actually brought up a really good point. They would love for that to happen. They don't need for that to happen. We actually quoted in the story that we did recently, this month, we quote this gentleman, Sean Frank from the menswear accessory brand Ridge Wallet, saying exactly what I just said. That company does more than 200 million in sales and 50 million in net profit. They can afford to hold out. And True Classic is in the same bucket. So you're going to see a lot of that push and pull where the investors are interested because a lot of these brands that I talked to, they're getting a lot of inbounds. But the sticking point is the valuation. And the investors are like, well, we don't feel comfortable giving you this valuation. And the brands are like, well, we don't actually need to be sold right now, so we're fine.
- [12:27]
Sheena Butler Young
Yeah, if I was selling a brand, I'd like to be in that scenario. I think that feels like a more balanced conversation than desperation. I want to talk a little bit about some of the reverse of that, like public brands that are considering going private. So one of the big headlines last year was Nordstrom for is it the second or third time? I almost forget now, but they've been on this journey a couple times at least of being a publicly traded company and not having struggling with a lot of the shareholder gaze issues that you have when you're a public company and seeing some opportunity in going private. Talk to us a little bit about what's going on with Nordstrom and other companies that are considering the route of public to private.
- [13:02]
Malik Morris
Yeah, well, you know, I think the issue for so many fashion brands and retailers that go public is the inherent volatility of consumer demand and sort of the small margin for error and miscalculating desire for a product at any given time. And the fact that that's now done in front of fickle institutional investors who seem like inherently mistrusting of the fashion sector. And the past two years have Been the worst for that. You know, even brands, retailers that are doing well, like a luxury etailer named Mytheresa that we cover all the time, they haven't gained much traction in terms of share price and market caps. So this is actually a good time for brands that are not growing sales or. Prof. To find ways to leave the public market. Some of them probably shouldn't have gone public to begin with for reasons of they just hadn't scaled to the level that they should have before going public or weren't profitable when they went public or the fact that investors don't really understand the sector that well, frankly took advantage of a frothy market. I think this is the time for them to right that wrong. And a part of that is a lot of startups I cover like Allbirds or Figs or Thredup, and some of these companies have unique struggles, you know, like Figs, for instance, you know, which sell form fitting scrubs and actually kind of created a category. They've now had to ward off competitors in the category that they created and innovate in a very tight niche. But that's a fun challenge that, you know, they can figure out and the company has been profitable before and can do so again. So you might see them find a really good buyer. There actually is interest from a particular PE firm as well. Thredup, the resale site, is another interesting one because they're fulfilling a necessary niche within online resale by providing the type of full level service that the RealReal offers. You know, they're taking items, sorting them, pricing them, photographing them, listing them on behalf of consignors. But they're doing that for less expensive item. But the company needs to revamp its model and to adapt to a chaotic market where consumers are buying very cheap clothes and looking to offload them. But they could be a good potential candidate. I think the one that I'm looking at most closely is probably Allbirds, the sneaker maker. They're a trickier one. They started off so strong with their wool runner, becoming part of like the Silicon Valley tech bro uniform.
- [15:04]
Sheena Butler Young
I remember that store expansion. I remember them opening so many stores.
- [15:07]
Malik Morris
Really quickly and then now. And now they're, you know, closing them. They're closing a lot of them, but a lot of their core audience are like wearing hoka and on. I know Brian love his hokas as well. Yeah. But it's not clear if people care about Allbirds. You know, I think that they'll find a buyer because they're cheap with like a $52 million market cap, but it will be an uphill battle for any new owner to help it revive its brand heat, especially when challenger brands have outpaced them and they don't have an entirely convincing product pipeline. But so I think the key for a lot of these companies and finding buyers is proving that their brands are still worth it and can weather these economic cycles and lulls in the market. But I definitely think you'll see a lot of them considering to go private. We've seen it in the past year or so like Farfetch'd went private. Before that there was Casper that went private. Poshmark, another reseller, went private. So there's already the foundation and bones of the fact that this can happen, and I think we'll see a lot more of that this year.
- [16:04]
Brian Baskin
We'll be back with more of the debrief right after this.
- [16:11]
Shopify Ad
When you think of skyrocketing brands like Aloe Allbirds or Skims, it's easy to credit their success to great products, sleek branding and brilliant marketing. But here's the overlooked secret. The real magic lies in the engine behind the scenes, the business powering their business. For millions of brands, that engine is Shopify, making selling seamless for them and shopping effortless for us. Upgrade your business and get the same checkout Alo Yoga uses. Sign up for your $1 per month trial period at shopify.com BOF all lowercase go to shopify.com BOF to upgrade your selling today shopify.com BOF@1800-flowers.com we know that connections are at the heart of being human. Whether celebrating life's joys or comforting during tough times, 1-800-Flowers helps you express what words can't for nearly 50 years, millions have trusted 1-800-Flowers to deliver thoughtful gifts that help create lasting bonds. Because it's more than just a gift, it's your way of showing you care. Visit 1-800-flowers.com acast and connect today. That's 1-800-flowers. Com acast ready to elevate your skincare Introducing Medicaite, a clinically proven dermatologist recommended British skincare brand known for age defying results. You may have heard about growth factors as the must have anti aging ingredient. And that's why Medikaite is excited about their latest innovation, the Liquid Peptides Advanced MP Face Serum. This serum harnesses the power of Growth Factor Mini Protein, a cutting edge technology that mimics natural growth factors but goes deeper, delivering visible, transformative results. Studies show immediate improvement in expression lines in just 10 minutes and a significant decrease in deep set wrinkles after eight weeks of use. The Liquid Peptides Advanced MP Face Serum not only reduces wrinkles but also gives a filler like effect, smoothing out your skin's appearance dramatically. Visit Medicaite US that's Medik and the number 8 US use code podcast20 for 20% off your purchase today.
- [18:31]
Brian Baskin
So it sounds like there's three categories that you're talking about here. There's the ones like Figs or Thredup, let's say, where like you said, it's a fun challenge that maybe a company wants to take on and they see real potential to put them back on that growth track. There's the ones like Allbirds where that seems like maybe more of a candidate for something like Marquee Brands which bought vera Wang or ABG which has bought everybody. You know, Brooks Brothers Forever 21, Sports Illustrated, on and on. And that's where they say, you know, this is a name people know. I'm not sure how much potential there is to turn this into the next Nike anymore. And then we never really unpack Nordstrom, where I mean, to me that's like a totally different category because that's a situation, it's a family controlled department store where they might have a time horizon of years or decades or generations and they don't want some investors, investors coming in every three months and saying, why didn't your sales, you know, go up 4% when you, you know, and only went up 2%? You know, they want to say, hey, we're happy to lose, maybe lose a little money for a few years and really turn this thing around and then give this to our children.
- [19:35]
Malik Morris
Yes. And I think the family elements of that is true, like, you know, like progeny and legacy. But I do think that that also applies to a lot of these brands. This idea of like, there are going to be lulls in the market, there's going to be ebbs and flows and obviously fashion is very fickle and very volatile. So yes, I think Nordstrom is a very specific case because. But even the ones that are not your brand should be able to expand and contract in the way that the market does without having institutional investors looking at you and punishing you because it's not performing the way they think that it should be performing. Because again, these are consumer brands and the consumers dictate if a brand is hot or not or if the sales are going to be good or not.
- [20:13]
Sheena Butler Young
It's interesting because I feel like Allbirds and to some extent Thredup and Figs were viewed as cautionary tales by investors in the market. We're never going to do that again. Is that changing at all? Are investors like, back into fashion again, Back into DTC brands again? Because I feel like for the last two years they've not simply because of brands like that, that have not lived up to, in many people's minds, those big valuations.
- [20:36]
Malik Morris
Yeah, no, I mean, you know, obviously investors had cooled on investing in consumer brands in the last two years, in part because of that and how poorly these. Some public brands were performing. But I think the investors. I think it's actually a good thing because the investors that remain now are actually interested in fashion and are knowledgeable and enthusiastic about the sector and can meet these brands on their own terms. So if a brand is able to show that it is desirable to consumers and has a good balance sheet or the ability to clean up their balance sheet, or it just has a name that just won't go away, then they shouldn't have a hard time finding investors who are interested in it.
- [21:08]
Brian Baskin
Yeah, I think we're seeing sort of a new. It's definitely a more moderate wave, but we are seeing a new wave of D2C brands getting that kind of heat around them. I mean, Vuori is the classic example. I mean, they just raised in November $825 million at a $5.5 billion valuation. That feels like a headline from 2019, for sure.
- [21:29]
Malik Morris
Yeah, definitely. But obviously that's the scant. Like, that's. You're seeing few of those and that's good. It means that they've proven something. They've proven that they're a brand that people care about. Obviously the other big one, the Skims, that's also had these valuations and has proven that it's reason for that, beyond the fact that it has the gorgeous Kim Kardashian.
- [21:48]
Brian Baskin
Well, I mean, the proof, though, is that they have a successful IPO or they sell to a strategic at those valuations. I mean, you could have said it at the same point in Allbirds trajectory, that they'd proven that they had a brand name people liked and they were growing.
- [22:02]
Malik Morris
And I mean, I'll push back on that by saying that when Allbirds was raising money, everyone was getting valuations like that. Like that. Just. That wasn't true.
- [22:10]
Brian Baskin
True.
- [22:10]
Malik Morris
It wasn't sparse. Now it is. So the fact that Viori was able to do that in this kind of market, it means like, oh, no, this is legitimate. Even though they're backed by SoftBank, which doesn't have the best track record in the world.
- [22:22]
Brian Baskin
What are you talking about?
- [22:24]
Malik Morris
Anybody heard of WeWork? But no, I do think that the fact that still the fact that they're able to raise money and raise that amount of capital, it means that something is going well. At least front facing investors have to appear to be alert and awake to if a company is profitable, has good unit economics or has good bones or not in a way that they didn't have to back in 2019 and and didn't have to even in 2021.
- [22:49]
Sheena Butler Young
A lot of these deals we're talking about are still, as you said, moderate or small. But there are some pretty big deals, some rumors that are going around about some big names that could be on the selling block like Capri is rumored to be trying to sell Jimmy Choo and Versace. There are other examples that you are closer to than I am, Malik. But what would it take for a deal that big to happen?
- [23:09]
Malik Morris
The Versace one is really an interesting case because that is kind of one that's not happening in the best of circumstances. Obviously. You know, Brian, there's a motivated seller there, motivated seller there. You know, after, you know, the FTC blocked Capri's merger with Tapestry, you know, the Capri is now trying to reportedly looking to sell Versace and Jimmy Choo. And the thing about Versace, it's of course a brand with a lasting legacy and staying power. And actually, you know, it'd be fun to kind of go through some of the rumored suitors. So one is Prada, which could be really interesting because Prada knows how to nurture a house and help it balance the creative with the commercial. There's also this private equity firm, Premiera, which has done a great job of scaling a fellow Italian label, Golden Goose. The sneaker, I call it the sneaker choice of the Upper east side with all these rich people like they love that shoe and they've been able to scale that brand to more than 500 million in sale by staying true to its DNA of straddling like tasteful and tacky. And then obviously Versace certainly as trafficked in that aesthetic as well. And also interestingly enough, former Gucci chief executive Marco Vasari is also said to be interested in, you know, making a play as well. And he was at Gucci during the Alessandro Michele golden year. So again, the mix of creative and commercial. Personally I would love to see Prada by Versace just because he could work his magic on Versace the way that Capri was hoping Coach could work his Magic on Michael Kors. But whichever buyer takes Versace could be sort of an interesting indication for the types of acquirers and luxury that are especially, especially voracious right now. But I think beyond that, I think a lot of the excitement in terms of, like, the sexy exits actually could really come from beauty. On the flip side, we've seen some buzzy exits in the last year in beauty, like the cult fragrance label DS and Durga was acquired by a family office firm called Manzanita Capital. Puig, which owns brands like Dries Van Noten and Carolina Herrera, acquired Dr. Barbara Sturm. And then PE firms CSG Consumer Partners acquired a majority stake in Summer Fridays. And this brand that I've written a lot about, this at home nail kit maker called Olive and June, was acquired by Helena Troy. And things are just different in beauty. You know, beauty brands need backing mainly because they have to be wholesale to scale, and that backing can help them achieve mass distribution. And there are brands that have struggled to live up to lofty evaluations, like a Pat McGrath Labs or RuPaul's Drag Race makeup brand of Choice, Anastasia Beverly Hills, which our great reporter Daniela Morrissini has written about. But beauty hasn't had the same slump as fashion, and investors aren't as skittish there. So there could be more deals in the pipeline this year. You know, as Daniella wrote a great story that came out this month outlining some of the names to look out for. There's Merit Beauty, there's the Prestige Line, Westman Atelier, which if I wore makeup, would be my brand of choice. There's Makeup by Mario, which was founded by Kim Kardashian's makeup artist that's been going gangbusters and sales hitting like 300 million last year. And then there's like Skincare, Sunscare, Favorite Vacation, as well as some of the names that have been floating around that could very well get very, very sexy exits this year. So tons of buzzing names in the beauty stable that, you know, hungry strategics or savvy PE firms could definitely set their sights on. And I do believe that we're going to see a lot of traction and beauty, specifically with those M and A. Oh, for sure.
- [26:34]
Brian Baskin
And then I think looming in the background behind all of those is rare beauty. I mean, that's going to be the beauty deal of the century, whenever that happens.
- [26:41]
Malik Morris
Yeah. But I think beauty is definitely in the skims bucket of, like, probably going to go public. Like, they're just so massive that, you know, like, I don't know that if I can see, I mean, I would love to get you all thoughts. I don't know if I can see a strategic buying them. I think that that definitely is one that could stand on its own on the public market. Despite all the things that I said about fashion, beauty being publicly traded, I.
- [27:03]
Sheena Butler Young
Think that's a very positive, forward thinking thought to sort of close things out. But Malik, do you have any advice or key takeaways for brands that are buying, selling, looking at the M and A this year? Something that is top of mind for you as you're watching the market?
- [27:18]
Malik Morris
Yeah, I think that was top of mind for me is like value, like the value that these brands have. Whether it's a heritage label that wants to challenge, you know, being revived or being brought to a new level or really hot brand that's been doing really well. I think that it's about like why does your brand matter and what resources do you need and who would be the best stewardship for that? I think more than anything, buyers. Whether they're ones that are in positions to give billion dollar valuations to the hottest brands on the market or are taking on brands that, as Brian has said, has seen better days, they're seeking brands with ample customer loyalty and a passionate consumer base that will show for the brand even when times are tough or will keep their names in a public consciousness irrespective of what recent sales growth will look like. I think the thing that is top of mind is what is the value of your. And I think that that's an honest conversation that I'm not sure that all companies have with themselves and let alone with buyers. But I think that that's something that if I have any takeaways like what does value mean? What does it look like? What does it mean to your brand? And who is the buyer that can understand that and can take you to the next level.
- [28:30]
Brian Baskin
With that in mind, I think that's great advice whether you are looking for a buyer or not. Malik, thank you so much for joining us.
- [28:38]
Malik Morris
Thank you for having having me.
- [28:39]
Sheena Butler Young
Please be sure to check out Malik's articles. Fashion's most anticipated M and a hotspots in 2025 and what's behind the 2025 M&A wave@businessofashion.com these and other stories are available to BoF Professional subscribers only and you can find the links in the episode notes. You've been listening to the debrief produced and edited by Olivia Davies, mixed and mastered by Eric Brea. I'm Sheena Butler Young. We'll be back next week with a new episode. Thanks so much for joining us and be sure to follow us wherever you get your podcast.
- [29:16]
Shopify Ad
Ready to elevate your skin care? Introducing Medicaid, a clinically proven dermatologist recommended British skincare brand known for age defying results. You may have heard about growth factors as the must have anti aging ingredient and that's why Medikaite is excited about their latest innovation, the Liquid Peptides Advanced MP Face Serum. This serum harnesses the power of Growth Factor Mini Protein, a cutting edge technology that mimics natural growth factors but goes deeper, delivering visible transformative results. Studies show immediate improvement in expression lines in just 10 minutes and a significant decrease in deep set wrinkles after eight weeks of use. The Liquid Peptides Advanced MP Face Serum not only reduces wrinkles but also gives a filler like effect, smoothing out your skin's appearance dramatically. Visit Medikaite US that's Medik and the number 8 US use code podcast20 for 20% off your purchase today. Worried about what ingredients are hiding in your groceries? Let us take the guesswork out. We're Thrive Market, the online grocery store with the highest quality standards in the industry. We restrict 1000 plus ingredients ingredients so you can trust that you'll only find the best high quality organic and sustainable brands all free of the junk. With savings up to 30% off and fast carbon neutral shipping, you get top trusted groceries at your door and you can stop worrying about what your kids get their hands on. Start shopping@thrivemarket.com podcast for 30% off your first order and a free gift.