Farfetch Just Bought Off-White’s Parent Company
New Guards Group, the Milan-based conglomerate that owns many beloved streetwear brands, including Off-White, Palm Angels, and Heron Preston, has just been purchased by online fashion platform Farfetch for a solid $675 million.
“The addition of New Guards’ brand platform brings a creative and industrial dimension to our suite of capabilities which, combined with our community of more than 650 boutiques, enables us to power and promote both new and existing creative names in the luxury industry to build the brands of the future,” CEO of Farfeth José Neves said in a statement.
With this new acquisition, the company is fully committed to investing in tomorrow’s talent. Additionally, it’s likely that Heron Preston and Off-White will continue to run and operate on their own without interference.