Finance

Tukatech and UV Stacks Launch Made-to-Order Division Through Gaiabay

By Dorothy Crouch, Contributing Writer | November 27, 2024

Los Angeles fashion-technology firm Tukatech and India’s UV Stacks have entered into a partnership through which the companies launched a Made-to-Order division of global marketplace Gaiabay.

Holiday Retail Sales Predicted to be Highest Ever Recorded

Despite congestion at major ports and labor shortages around the country, holiday spending is expected to shatter previous records according to the National Retail Federation.

VNTANA Announces Latest Funding Round, Expansion in 3D and AR E-commerce

VNTANA, which provides 3D content-management software, has announced its latest round of funding, which will be used to scale and continue recruitment of talent across the organization.

Unifi Elects Rhonda Ramlo to Board of Directors

Unifi Inc., the recycled and synthetic yarn innovator, has announced the election of Rhonda Ramlo to its board of directors.

Evrnu Raises $15 Million in Series B Financing

Textile company Evrnu announced the raising of $15 million in Series B financing to scale and meet the increasing demand for its fiber-regeneration platform, NuCycl, as a solution to the textile-waste crisis.

SoftBank Invests $400 Million in Vuori

Activewear brand Vuori has announced a $400 million investment from SoftBank Vision Fund 2 at a valuation of $4 billion. Since 2015, Vuori has established itself as a leader in the activewear market that merges techwear with a West Coast aesthetic.

Financing in the Age of e-Commerce

The apparel industry was an early adopter of e-commerce. Even before COVID-19 struck, online retail accounted for 27 percent of U.S. apparel sales in 2018 and 30 percent in 2019. In 2020, that number leaped to 46 percent as consumers largely avoided stores due to health and safety concerns, according to the research firm Digital Commerce 360.

Ross Stores Inc. Appoints New CFO

Ross Stores Inc. has announced that Adam Orvos, the current group senior vice president of supply-chain administration, is being promoted to executive vice president and chief financial officer.

Industry Focus: Finance—As we head into the holiday season, what types of investments should apparel companies be making to fortify their businesses and ensure success for 2022?

As 2021 winds down, the apparel segment has been enjoying an uptick in business from different corners of the industry. The last few months have seen some of the largest trade shows in the industry return to on-site events. With consumers shopping and willing to spend, retailers are enjoying the benefits of the apparel investments their customers are making as they return to offices, college campuses, in-school classes and semi-normal life.

Fashion Nova and Afterpay Announce New Partnership

Afterpay and Fashion Nova have partnered together to offer shoppers a more flexible way to pay.

Riata Capital Group Announces Closing of WSS Sale to Foot Locker

Riata Capital Group, a Dallas-based private-equity investment firm, has announced the closing of the sale of West Coast–based WSS, a premier specialty retailer of athletic, fashion, and work-related footwear and accessories, to Foot Locker for $750 million in cash subject to customary agreements.