Lovers of cheap threads may be displeased to hear that Sophia Amoruso, the 28-year-old founder of NastyGal, the e-commerce women’s wear success story, is in talks with Urban Outfitters about a potential acquision deal.
The outside interest is nothing new for the queen of 20-something women’s stylings, just last year Amoruso relinquished part of the company to Index Ventures, a Switzerland based venture capital firm with stakes in Etsy, Net-A-Porter, and near-NastyGal-doppleganger ASOS. However, Amoruso maintains majority control over the company she started on eBay in 2006.
The new and vintage clothing and accessories featured on the site–think platforms, mesh-everything, ripped denim, and flowing crop tops–are no doubt competition for the similarly styled Urban Outfitters, especially since they’re often priced at a fraction of the cost of similar items sold at the chain-store giant. And with approximately 135,000 customers visiting NastyGal.com daily, conjuring up over $100 million dollars in profit last year alone, it isn’t a far flung assumption that the ever-growing company presents both a threat and an enticing opportunity for Urban Outfitters Inc.
While Refinery29 reports that some industry insiders view the potential buy out as a smart move for a brand with a singular time-stamped aesthetic, it remains to be seen whether the “talks” will come to anything. For the sake of having more women running major companies, and fashionistas seeking reasonably-priced clothing, we hope not.
[via Refinery29 and New York Times]
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Eva Voinigescu is an intern at Toronto Standard. Follow her on Twitter @EvaVoinigescu.
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