Interesting developments from the other side of the (streetwear) world. On February 1st, it was announced that A Bathing Ape was sold to Hong Kong fashion conglomerate I.T. I.T. purchased a 90.27% stake in A Bathing Ape.
In a transaction encompassing a relatively paltry $21,850,000 HKD (approx. $2,800,000 USD), I.T purchased a total of 668 shares. Exact details regarding the creative future and expansion of A Bathing Ape are unknown, however A Bathing Ape founder NIGO will remain on board as the Creative Director for the next two years.