Highsnobiety might be considering a sale
Premium streetwear-focused online magazine Highsnobiety is reportedly considering a possible sale, having received interest from potential buyers.
According to a report from The New York Times citing two people familiar with the situation, the company has contracted investment bank LionTree in order to study the possibility of a sale. The report’s sources also said that Highsnobiety has already seen interest from potential suitors, although no names were revealed.
Founded by David Fischer in 2005, Highsnobiety is based in Berlin and also operates offices in London and New York. The company expects to report $60 million in revenue this year.
The evolution of the Highsnobiety platform has followed a trajectory clearly aligned with both the rise of high-end streetwear and the increasing crossover between media and e-tail over the last few years.
Alongside the likes of Goop and Glossier, Highsnobiety has developed into a slick shoppable digital magazine, simultaneously offering fans the latest news on the buzziest brands and a hyper-curated selection of purchasable products. The company has also launched its own in-house apparel line and has even explored brick-and-mortar retail through a series of pop-ups in locations including Paris and Zurich Airport.
With its growing popularity and savvy adaptation to the changing consumer landscape, it should perhaps come as no surprise that this kind of hybrid media and e-commerce platform has been the central element in a number of high-profile transactions over the past few years.
In 2015, for example, Net-a-Porter merged with Yoox, a deal partially motivated by the former’s editorial capabilities, while earlier this year Ssense received funding from Sequoia Capital, bringing the platform’s total valuation up to over %4 billion.
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