The founders of the Japanese fashion label Ambush, Yoon Ahn and verbally, have brought back full property of their brand from the Italian fashion group New Guards Group (NGG), according to a report by the Women’s Women’s Women’s Women’s WORE Daily.
NGG had taken over a majority stake in Ambush in 2020. Since Friday, the founders should have control over the company again. Fashionunited contacted Ambush for more information.
The Italian NGG has been in an economically difficult location for some time. The takeover of NGG by Farfetch 2019, followed by the takeover of Farfetch by Coupang at the end of 2023, led to several restructuring within the group. In November 2024, NGG has been reported to have applied for bankruptcy protection according to Chapter 11 in Italy.
At the beginning of 2024, rumors of a possible takeover by the Italian private equity company Style Capital also circulated. So far, however, there have been no concrete steps.
This article was used with digital tools translated.
Fashionunited uses artificial intelligence to accelerate the translation of articles and improve the end result. They help us make the international reporting of fashionunited a German -speaking readership quickly and comprehensively accessible. Articles that have been translated using AI-based tools are read and carefully edited by our editor: Correcting inside before they are published. If you have any questions or comments, please contact me by email to [email protected]