BAPE sold to Chinese company

Not sure if anyone likes or owns BAPE stuff but I figured this is a VIP site which is a Japanese thing so here you go....
 
 
"Influential Japanese-born streetwear brand, A Bathing Ape (aka BAPE), was acquired by a Chinese apparel maker, the latest in the growing wave of acquisitions of Japanese firms by their Asian competitors, reports the [URL="http://online.wsj.com/article/SB10001424052748703445904576117570521466098.html?mod=googlenews_wsj"][I][B][COLOR=#01508e]Wall Street Journal[/COLOR][/B][/I][/URL].
Hong Kong-based, I.T Ltd., is set to purchase an approximately 90% stake in Nowhere Co., the Japanese operator of BAPE, for a reported 230 million yen (or $2.8 million at current exchange rates) from founder Tomoaki Nagao, also known a Nigo.
The price-tag stunned most, especially since BAPE was thought to be valued at much more.
Apparently, the company behind BAPE was suffering. The [I]WSJ[/I] reports that in recent years, the Nowhere Group has taken significant losses. For the fiscal year, ending August 31, 2010, its recorded a net loss of 119 million yen, slightly better than a loss of 267.4 million yen the previous year. And, it had had liabilities totaling 1.03 billion yen in the year ended August 31.
In addition to the purchase, I.T will also guarantee the company's outstanding loans of 2.6 billion yen.
In a press release, I.T said it will "promptly rationalize Nowhere Group's capital structure to restore a healthy balance sheet and positive cashflow. It is anticipated that measures to be taken will include implementation of stringent cost controls."
"We are delighted about this acquisition of Nowhere, which owns of some of the most sought-after brands in street wear fashion," said Sham Kar Wai, I.T chairman and chief executive, in a statement. "We believe that this acquisition will broaden the brand portfolio of our Group and increase our market share in the street wear fashion in Greater China. It will also help position us better in tapping into the international market."
BAPE was founded by Nigo in 1993, as a single shop on a backstreet in Tokyo's trendy Harajuku district. The company's t-shirts, hoodies and jeans, designed by Nigo, acquired a cult following among young Japanese men and was later embraced by hip-hop icons such as Kanye West, Jay-Z, Lil Wayne, and Pharrell Williams.
At one point, BAPE t-shirts could fetch as much as $75 for a single tee, while other products, such as jeans, sneakers, and hoodies could sell in the hundreds of dollars.
Nigo will reportedly stay on as creative director at BAPE for the first 2 years to oversee the transition."

2005 called... said they didn't care any more.

Jermaine LOVES!!!! BAPE and still cares HA!

[QUOTE=OG;369055]2005 called... said they didn't care any more.[/QUOTE]

:innoutrofl2::innoutrofl2::innoutrofl2:

Like...from soulja boy and rap stuff Bathing Ape?
didn't know they were still relevant clothing line. thought that style kind of died out.

damn Nigos taking a hit also..

Not surprised, Nigo has been in the negative for a couple years straight.  That industry as a whole hasn't been doing that well.  You really require a cult like following for something like that to have some staying power.  Good example would be Mark and Fatlace...

streetwear moved on years ago and bape's a relic of the past haha

i guess nigo might have to sell off some of those whips he has

anyone want to buy my bapes? lol

yup back in the pharell bbc icecream days, thro I hope this doesnt make bape go down the drain I still like them

[QUOTE=elpresidente;369112]Not surprised, Nigo has been in the negative for a couple years straight.  That industry as a whole hasn't been doing that well.  You really require a cult like following for something like that to have some staying power.  Good example would be Mark and Fatlace...[/QUOTE]

bape's weak always has been....watered down street wear lol.  anyway, hipsters have evolved...nigo needs to go invest in redwings haha

Jnco > all (hahah I keed I keed)

Jnco rules!

Now you can buy fake bape and it will be all good cause it's now made in china lol. I liked a lot o it cause the funny characters

[QUOTE=dirtyldirty;369120]i guess nigo might have to sell off some of those whips he has[/QUOTE]
 
i'll take the wrapped phantom. s**t was sick.

[QUOTE=OG;369172]i'll take the wrapped phantom. s**t was sick.[/QUOTE]

yea, was sick as hell.

Gotta admit, at least he got out with something.  When the LA store closed, kinda felt it was gonna be inevitable.

Aahhhh there goes the value of my baby mario and baby milo DS Lite!:pat:

the problem with being hyper trendy is once you're established you're done. dickies and white tees. 
 
luckily for me this stuff didn't come in my sizes when it was hot. i woulda blown a lot of money (that i blew anyway).

Yeah man I have one hoodie. But it's why I don't go crazy on clothes it only worth it's weight in hype. 

I will stick to khakis cuff and crease with a white tee lol

haha fuck, the shoes I wear the most are ice creams... guess I need to move on

chinese are everywhere and own everything.

[QUOTE=elpresidente;369112]Not surprised, Nigo has been in the negative for a couple years straight.  That industry as a whole hasn't been doing that well.  You really require a cult like following for something like that to have some staying power.  Good example would be Mark and Fatlace...[/QUOTE]


I lol'd

But I'm not sure you meant for it to be a joke...

[img]http://iamhilarious.com/wp-content/uploads/2010/03/ror.jpg[/img]

done with bape

^ yeah, so are a lot of big time rap artists too. Wayne use to rock it a lot, now he is on with Birdman. Gucci and LV is the new street wear. Which is better anyway.

[QUOTE=Kouki Monster;369267]^ yeah, so are a lot of big time rap artists too. Wayne use to rock it a lot, now he is on with Birdman. Gucci and LV is the new street wear. Which is better anyway.[/QUOTE]

YUP!!! they going to fuck up "bape" name.

I'm completely lost in this conversation...   Kids dress funny these days.  Tight jeans yet baggy in the ass?   what?

lol. this one (^) f**ked me up. i seen the all the way tight a lot, but when i saw tight on the calves/loose on the thighs i was like...

Bape and supreme was thee streetwear to rock during 00-04...Bape wasnt that bad imo, Bape is actually huge in Asia and they have other shit besides clothing. I wasnt a big fan of the kicks but some of the clothing and accesories are pretty cool. the thing that killed Bape was when people started mass producing counterfiet bape clothing. that shit was everywhere...in every hood...every mom n pops store.  it use to be you had to go to one of the bape  specialty stores in japan, NY, or LA to get some exclusive gear...there were so many fakes on the street that you couldent tell which was real or not. most of the time when the hood gets their hands on something they play it the hell out on some OD ridculous "hey look at me" cornball type shit. (fake multi color bape shoes + multi camo bape hoody + corny bape tee or a lame all over gucci or LV print hoody)

I can't understand how a company that sells $400 sweaters and makes them for next to nothing ends up [B]losing[/B] money....

You would be surprised

In order to be able to sell $400 sweaters and $300 sneakers, you need to spend a lot on marketing and presentation.  Have you ever been in one of their stores?  You can tell they spend a lot on all the little details that help sell the dream and the products.  When you are selling high end stuff, you need to be seen on the high end strips (that have super high rent costs) other wise you dont look as established.  Lots of spending and no money coming in can make even a high profit company go under

yup! well said man

And it does not help that a lot fake bape comes from China..........

lol @ chinese company putting itself out of business by knocking off it's own label.

[QUOTE=OG;369463]lol @ chinese company putting itself out of business by knocking off it's own label.[/QUOTE]

+1.  That blows my mind.

bath salts?

Not just in America

it's all marketing...   Children's clothing made to look like it's cool to wear...  awesome!

This has an affect on all the fanboy or hypebeasters. I only rock 04-05 stuff just kaws I'm a graffiti head at heart. If it's not hidden camo or kaws x bathing ape. It does not get too much play from me. I will still collect and hang onto a few pieces.

i call dibs on nigo's retro hotrod version of the mercedes sl done by amg