JA Apparel Corp., the owner of the Joseph Abboud and Joe by Joseph Abboud brands, is said to be close to inking a deal with Iconix Brand Group.
A deal, although imminent, could still fall apart, financial sources said. Terms of the transaction were not immediately available, but sources said it could be valued in the $90 million range, lower than the $100 million-plus price tag that JA’s principal owners, private equity firm J.W. Childs Associates, had been seeking.
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?"