Streetwear site HighSnobiety is in the midst of exploring a sale to Bustle Digital Group, a news story first reported on by NY Times. As of now, there’s no info on pricing. The Berlin-based business founded by David Fischer received $8.5 million in finding from private equity firm Felix Capital in 2018, a move portending an eventual sale.
According to additional reporting by WWD, the company reportedly brought in $60 million in revenue this year. In comparison, Hypebeast, which is listed on the Hong Kong stock exchange, banked $88.68 million for the year ending March 2021.
According to WWD, a source closed to WWD has stated, “BDG is actively looking for new partners and a logical merger could be Highsnobiety and Bustle Digital Group. With their recent joint venture with W, it would make sense for them to progress into men’s fashion.”
Highsnobiety declined to comment. A source confirmed that the potential sale is happening to WWD, but declined to comment further.
Within the same streetwear space, Complex Media was purchased by Verizon and Hearst in a 50-50 ownership structure in 2016. At the time, Complex was valued at between $250M-$300M according to reporting by Wall Street Journal.