Tomorrow buys control of indie store Machine-A, founder to widen role
Tomorrow, the London brand consultancy, has announced an investment in independent concept store Machine-A and will become its majority shareholder. It will now be “working closely with Machine-A on its direct-to-consumer model, as well as its long-term business expansion strategy”.
The news follows Tomorrow taking a “significant” equity stake in Molly Molloy’s and Lucinda Chamber’s Colville label back in September.
Seven-year-old Machine-A was founded in London by Stavros Karelis, and “has always aimed to showcase creative emerging designers and fashion brands”. It also stocks established high-end brands but aims to offer a “unique edit and curated presentation”. For instance, during London Fashion Week recently, it staged a Richard Quinn makeover of the Soho boutique. It said this approach will continue under the new ownership.
While Tomorrow will be its majority shareholder, the stake held by Karelis has also increased in the deal and he remains Buying Director, as well as now overseeing the wider brand curation across the Tomorrow portfolio and creative projects.
As part of the agreement, Tomorrow’s Chief Digital Officer Alessandra Rossi has been named Machine-A CEO with immediate effect.
Tomorrow CEO and co-founder Stefano Martinetto said: “Machine-A’s ethos and passion to support emerging talent are perfectly aligned with Tomorrow’s mission to champion creativity and independent designers. We will work together with Stavros, and the team to ensure that the brand curation continues to reflect the Machine-A values of inclusivity, and gender fluidity. The retail, wholesale and digital models are continuing to merge, and this is an exciting time for the industry. We look forward to what our partnership can achieve together.”
Copyright © 2021 FashionNetwork.com All rights reserved.