Hong Kong retail and apparel powerhouse I.T is set to buy a 90% share in Nowhere Co., the governing company of A Bathing Ape. Wall Street Journal reports that the iconic japanese brand which also includes the likes of Ice Cream, BBC and other entities has been losing money for years and the 90% shareholding will cost I.T just $2.8million.
Stay tuned for more information on this story, as it could see a distinctive change to the landscape of Japanese street fashion. It has been confirmed that Nigo will stay on as creative director for the next 2 years.
Source: WSJ & Slam X hype
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