High-end streetwear site Highsnobiety plans to sell

Highsnobiety, the online magazine focused on high-end streetwear, hired investment bank LionTree to assess a sale after the interest of potential suitors, said two people familiar with the situation. the DealBook newsletter.

The New York Times

The New York Times reports that high-end luxury magazine Highsnobiety is exploring the possibility of a sale. And several suitors are showing interest, including modern media publisher Bustle Digital Group.

Highsnobiety is reportedly outsourcing the situation to global investment and investment banking firm LionTree. And if there is someone who can make the case succeed, it is the firm headed by Aryeh Bourkoff.

With a focus on media, technology and telecommunications, Bourkoff is the architect behind some of the biggest deals in recent memory, including the merger of WarnerMedia with Discovery and the purchase of MGM by Amazon. Bourkoff is also part of the group that bought W magazine last year alongside Karlie Kloss, Kaia Gerber and Lewis Hamilton.

Aryeh Bourkoff from LionTree | Source: Variety

Founded by David Fischer in 2005, Berlin-based Highsnobiety now operates a global network with offices in London and New York.

The brand’s evolution from streetwear blog to a global fashion destination coincides with the growing popularity of high-end streetwear and the continued convergence of retail and media. The platform responds perfectly to the need for a cross-media point of sale providing news, information and the ability to make purchases all in one.

CEO of Divid Fischer Highsnobiety
David Fischer CEO of Highsnobiety | Source: The Fashion Trade

His comments on the latest sneakers and fashion trends will continue to catch the culture of today’s youth. This year, the company expects sales of over A $ 79 million. And as streetwear continues to solidify its place in the luxury fashion industry, multi-faceted media publications like Highsobiety will continue to thrive.

The current trend of streetwear-rooted designers guiding the future direction of a haute couture house – think Kenzo naming Nigo and Virgil Abloh taking over as Louis Vuitton – brings the two worlds together.

There’s also no slowing down in the streetwear formula of hype, scarcity, and public spectacle. The sneaker’s silhouette has carved out its place in a high-priced genre on its own. It wasn’t until Sunday that a pair of Michael Jordan’s 1984 Nike Air Ship’s became the most expensive sneaker ever sold for A $ 1.96 under the hammer at Sotheby’s in Las Vegas.

Sites like StockX and Goat are part of the movement, commanding large high-end sneaker markets with many fans treating rare sneakers like currency.

If you want to learn more about how luxury fashion is taking hold in youth society, just earlier this year luxury fashion house Balenciaga teamed up with gaming giant Fornite.

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