BAPE gets bought out
One of the most recognizable names in street wear, BAPE (A Bathing Ape), has been bought out by Hong Kong based clothing company I.T. for $3 million.
One of the most recognizable names in street wear, BAPE (A Bathing Ape), has been bought out by Hong Kong based clothing company I.T. Apparently the company has been slowly declining over the past few years and has gotten themselves in about $32 million dollars in debt.
The company only sold for about $3 million USD, and now the fate of the Japanese brand lies in the hands of it's new owners. The company's plan is to target the younger Chinese customers who "look for edgier styles with an established brand." Where do you think the fate of BAPE lies?
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