The Waitex Group, the $100 million New York-based fashion supply chain services company, has acquired Mr. Software for an undisclosed sum. Waitex plans to create an advanced version of Mr. Software's integrated financial software for apparel manufacturing, known as AIMS, or Apparel Information Management Systems.
The software manages every step of the process, from orders to inventory to sales rep commission processing to electronic document interchange. Mr. Software, also based in New York, had more than 20 employees and more than 200 active customers, which Waitex will continue to support. Waitex said it hopes the acquisition will generate an additional $8 million in revenues this year, and $15 million to $20 million in 2009.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"