Smart Business Move: Nasty Gal Said Seeking Buyer

By  |  0 Comments
Share Button

sophia-amoruso-nasty-gal

Website turned private label and retail Nasty Gal is seeking a buyer. The original website was founded by Sophia Amoruso in 2006.

Multiple sources said the Nasty Gal¬†“is now on the hunt for a possible buyer,” according to WWD.

The online publication’s source described Nasty Gal as a company¬†‚Äúaggressively looking for capital‚ÄĚ and that process could lead to a sale, while others saw a more direct search for a buyer.

Sources said e-commerce company Revolve is among those that have taken a look at the firm. Nasty Gal has seen an influx of executive talent, but still seems to be seeking its way in a generally down market for fashion, where merchants of all stripes are trying to figure out how to find the profitable balance between retail and e-commerce balance.”

As of Monday (September 12) afternoon, neither Nasty Gal nor Revolve replied to this report.

Neither Nasty Gal nor Revolve immediately returned queries Monday afternoon.

It’s reported that former chief operating officer of J.C. Penney Co. Inc and chief executive officer of Kellwood Inc., Michael Kramer was helping out Nasty Gal¬†as something of a chief operating officer, before he moved on to become chief financial offer of Forever 21 last month.¬†He was working alongside CEO Sheree Waterson, who joined the company in 2014, having previously been president of Lululemon Athletica Inc.

¬†“Nasty Gal has been successful raising funds before. According to S&P Capital IQ, the company raised $49 million from Index Ventures in 2012 and another $16 million last year, in a round led by former J.C. Penney and Apple retail chief Ron Johnson.”

Nasty Gal has two stores ‚ÄĒ one in Hollywood and one in Santa Monica ‚ÄĒ and¬†is¬†working the get the formula right.

Since handing over the reins as CEO¬†to Waterson, Amoruso has been less involved in the day-to-day running of the site and more focused on other projects. She¬†published and promoted her book, ‚Äú#GirlBoss,‚ÄĚ in 2014, and is working on another, ‚ÄúNasty Galaxy,‚ÄĚ which is due out in October. She also has a podcast series, #GirlBoss Radio, and is serving as a consulting executive producer for an upcoming Netflix comedy series based on her first book. Actress Britt Robertson, whose film credits last year included ‚ÄúTomorrowland,‚ÄĚ has been cast as Amoruso.”

One source said Nasty Gal is hoping that the television show helps give the brand a little extra marketing oomph.

 

Photos Credit: Courtesy

Source: WWD

Share Button
Donovan

Donovan is the CEO and Editor-In-Chief of www.dmfashionbook.com. For all general inquiries please email don@dmfashionbook.com Donovan has a BA in Journalism & Media Studies from the prestigious Rutgers University. He's currently studying entertainment and fashion law.