These are the stories making headlines in fashion on Friday.
Goat Group Inc. acquires streetwear resale site Grailed
The streetwear resale marketplace Grailed has been acquired by Goat Group Inc., Bloomberg reports. Grailed will continue to exist as its own platform, separate from the Goat website. Goat’s interest in a deal started last year when the company led a $60 million funding round for Grailed, which, at the time, wasn’t being considered for sale. {Bloomberg}
The return of bespoke suiting
For Business of Fashion, Daniel-Yaw Miller explains the resurgence in bespoke suiting dominating the menswear market. Though many predicted that the death of certain formal wear was imminent in a post-pandemic world, the exact opposite seems to be transpiring: E-commerce retailers like Mr. Porter, for example, have added even more suiting options this year based on consumer demand for tailoring. {Business of Fashion}
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Rimowa launches design prize for students
The luxury luggage brand is launching a €20,000 first-place prize as part of its annual design competition for students at German universities, per WWD. In a statement, Rimowa said students are “encouraged to freely interpret the theme by creating designs that both consider mobility’s global impact and acknowledge Rimowa’s tenets of resilience, excellence and quality.” {WWD}
Michael Kors aims to reach zero hunger with new Watch Hunger Stop campaign
On Friday, Michael Kors announced the 2022 Watch Hunger Stop campaign supporting the United Nations World Food Programme. The brand released a special-edition tote and pouch in partnership with artist Bonny Guo, which can be seen on various influencers globally and will benefit the United Nations World Food Programme. “[Guo] captured the message of Watch Hunger Stop beautifully,” said Kors, in a statement. “We’re all connected more than ever, but we still need a reminder that love makes the world go round.” You can shop it now at MichaelKors.com. {Fashionista inbox}
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