Farfetch the UK based luxury shopping platform made headlines this week by buying Italian based New Guards Group for £675M . New Guards is a parent company to popular streetwear brands , Off white, Palm Angels and Heron Preston.
1 Heron Preston and Virgil Abloh don’t own their labels outright.
2. Luxury streetwear is here to stay.
3.Luxury brands are making an awful lot of money from streetwear.
4.”Fast luxury fashion” is the way forward.
5.Farfetch is building a fashion house that will focus on the new generation.