HUF to Sell 90% Stake for $63 Million USD

Japanese investors are prepping for skateboarding’s entrance into the 2020 Olympics in Tokyo.

By //Fashion

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.

Read Full Article
Source
FashionSnap
HufAcquisitionsTsi Holdings

You may also like

Basquiat's Monumental 'Flexible' Painting Expected to Sell for Over $20 Million USD
Arts

Basquiat's Monumental 'Flexible' Painting Expected to Sell for Over $20 Million USD

First time ever being up for auction.
8,494 Hypes 16 Comments
Rare van Gogh Painting Expected to Sell for over $35 Million USD
Arts

Rare van Gogh Painting Expected to Sell for over $35 Million USD

Once owned by Hollywood superstar, Elizabeth Taylor.
2,574 Hypes 6 Comments
JD Sports to Purchase Finish Line for $558 Million USD
Footwear

JD Sports to Purchase Finish Line for $558 Million USD

The UK-based retailer comes stateside.
9,735 Hypes 4 Comments
Paramount Sold 'The Cloverfield Paradox' to Netflix for Over $50 Million USD
Entertainment

Paramount Sold 'The Cloverfield Paradox' to Netflix for Over $50 Million USD

Paying for a good portion of the film’s $55 million USD budget.
4,403 Hypes 8 Comments
Apple Ordered to Dish out Over $500 Million USD for FaceTime & iMessage Patents
Tech

Apple Ordered to Dish out Over $500 Million USD for FaceTime & iMessage Patents

On top of the $439 million USD it was ordered to pay last year.
9,932 Hypes 5 Comments


What to Read Next

adidas Originals Retroes the Quesence in Maroon
Footwear

adidas Originals Retroes the Quesence in Maroon

Old but not forgotten.

Dr. Dre Announces Release Date for Eminem's 'Revival' Album
Music

Dr. Dre Announces Release Date for Eminem's 'Revival' Album

It’s officially confirmed.

Off-White™ Introduces Firetape Fall/Winter 2017 Collection
Fashion

Off-White™ Introduces Firetape Fall/Winter 2017 Collection

New jackets, sweatshirts, tees and more.


adidas Gives Classic Styles a Luxury Look for "Crafted" Pack
Footwear

adidas Gives Classic Styles a Luxury Look for "Crafted" Pack

New takes on the Gazelle, Campus and Forum.

Uniqlo Is Coming to India
Fashion

Uniqlo Is Coming to India

Asia’s largest apparel retailer is looking to set up shop in the region’s third-largest economy.

Here's the 36-Piece KITH x Moncler Collection
Fashion

Here's the 36-Piece KITH x Moncler Collection

Complete with a trio of GEL-Lyte IIIs.

More ▾