HUF to Sell 90% Stake for $63 Million USD
Japanese investors are prepping for skateboarding’s entrance into the 2020 Olympics in Tokyo.
HUF may not stay an American brand for long — Tadashi Saito and Tsi Holdings announced plans to purchase a 90% stake in the skate brand for approximately $63 million USD. The Japanese investment firm owns stakes in a variety of domestic and international companies, with a focus on clothing labels.
Tsi looks to add HUF to its already extensive apparel lineup — the firm owns stakes in companies that manage brands like Margaret Howell, Stüssy and retailer nano universe. Tsi-owned JACK INC owns the Japanese Stüssy license and has been acting as a Japanese distributor for HUF; now Tsi is looking to acquire most of the brand for itself. With annual Japanese sales of approximately ¥400 million JPY (approximately $3.6 million USD), expanding the brand will work in Tsi’s favor — with skateboarding’s addition to the forthcoming Tokyo Olympics, skate brands are going to become a valuable commodity in the country. Tsi predicts sales of ¥5.1 billion to ¥10 billion JPY (approximately $45.7 million to $89.7 million USD) within a half decade.
The purchase hasn’t been formally announced overseas but the news broke in Japan on November 27. We reached out to HUF, however the brand declined to comment at this time.
For more on HUF, the brand recently rereleased its Dylan Rieder Driver Shoe.