Suitsupply has secured some financing to spur its expansion.On Monday, the Amsterdam-based company said it has raised $360 million in capital from NPM Capital as well as a consortium of banks including ABN Amro, BNP Paribas, ING and Rabobank.Suitsupply will use the funds to refinance its existing debt as well as for further international expansion, investments in technology and retrofitting some of its older stores.“We are using the current competitive financing climate to optimally position the company for further growth at attractive conditions,” said chief financial officer David Dijkhuis.Suitsupply operates a total of 91 stores around the world, including 32 in North America, a market it entered in 2011.In the U.S., the company will open four more stores this year in Kansas City, Newport Beach and San Jose, Calif., and Bellevue, Wash. In 2018, Suitsupply will add units in Williamsburg, N.Y., Boston, St. Louis, Detroit and San Diego in the first six months.Last month it launched a women’s chain called Suistudio with stores in Amsterdam and Shanghai as well as two in New York. The funds will also be used to expand that concept into new markets, a spokesman said.The privately held Suitsupply was founded by Fokke de Jong who still serves as its chief executive officer. It started as online only and opened its first brick-and-mortar store in 2000.More than 75 percent of its sales today come from outside the Netherlands and 30 percent are still generated online.
Exclusive: @longchamp is planning to stage its first official runway show at New York Fashion Week this fall. The French leather goods firm has expanded into ready-to-wear as part of its repositioning as a lifestyle brand. The show, scheduled for September 8, will also cap the brand’s 70th anniversary celebration. Get all the details on WWD.com. #wwdnews #wwdfashion (📷: @dominiquemaitre)
The Duke and Duchess of Sussex undertook their first overseas engagement as a married couple in Dublin. The trip included multiple events and outfits changes, including this black dress by @emiliawickstead that Meghan Markle wore for a party at the British Ambassador’s home. #wwdfashion #royals
At 20 years old – and with an estimated net worth of $900 million - @kyliejenner is the youngest person to ever make @forbes’ annual list of America’s Richest #SelfMadeWomen. “It’s incredible to be recognized for something I’m so passionate about, and I’m really grateful for that. I’ve always loved makeup and worked really hard to bring the first lip kit to the market,” said Jenner on founding @kyliecosmetics. See who else is on the list on WWD.com. #wwdnews #wwdbeauty (📷: @rainerhosch)
“The collection is inspired by Tulum and the Mayan Riviera – its laid-back luxury, life of cabanas, untouched coastline, natural habitats, exotic cocktails and jungle parties with renowned DJs,” said Matteo Maniatty, creative director and cofounder of @descendantofthieves, on the brand’s inspiration for its latest collection. See more designer sketches and inspirations on WWD.com. #wwdfashion #nyfwmens #nyfw
@riccardotisci17 is releasing a limited-edition capsule collection as part of his anticipated runway debut for @burberry in September. Delivered in a series of instant drops, this is the second Burberry capsule collection announced since Friday, when Tisci broke the news on his collaboration with @viviennewestwood. Get all the details on WWD.com. #wwdfashion #wwdnews
“It’s like a Cinderella story. You get a little fake, you get a little real, you put it together and voilà,” said legendary rapper Slick Rick, who helped pioneer the merge of luxury and streetwear. WWD’s @ariahughes spoke to @therulernyc about his jewelry collection, his collaboration with @bally and how the industry has evolved – link in bio. (📷: @kristaschlueter)
@ragandbone and @eminem are teaming up on a special capsule collection of streetwear pieces. Sold at a one-day pop-up in London’s Soho on Friday, the collection features three different T-shirt designs and a hoodie. The capsule is set to kick off the rest of Eminem’s shows in his European Revival Tour, which ends on Sunday. Get all the details on WWD.com. #wwdfashion