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Amazon Reportedly Makes Bid for American Apparel

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Amazon and Forever 21 May Place Bids for Bankrupt American Apparel

Amazon and Forever 21 May Place Bids for Bankrupt American Apparel*/

– Friday, January 6, 2017Amazon.com Inc. and Forever 21 have joined the ranks of suitors interested in acquiring bankrupt clothing company American Apparel, Reuters reported on Jan. 4.Los Angeles-based American Apparel, which filed for its second bankruptcy within a year in November, already has a $66 million stalking horse bid from Canadian apparel maker Gildan Activewear Inc. for its intellectual property.Amazon.com Inc. and Forever 21 would have to beat Gildan’s bid and any deal would have to be approved by the U.S. Bankruptcy Court.
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Why it makes sense for Amazon to buy American Apparel

Why it makes sense for Amazon to buy American Apparel*/

– The retailer shut all 12 of its UK stores in December, resulting in 150 job losses, after the US parent stopped shipments to stores.Now Amazon is reportedly vying with US fashion brands Forever 21, Next Level Apparel, Authentic Brands Group and Canadian clothing maker Gildan ahead of a bid deadline on Friday, but the online giant has deeper pockets than all of them put together.While American Apparel as a brand has fallen from its heyday – when its ‘Sweatshop Free’, colourful basic clothing was promoted with soft-pornographic style campaigns – Amazon could still make the most of its ‘Made in USA’ stitching to soothe political tensions.
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Amazon Reportedly Makes Bid for American Apparel

Amazon Reportedly Makes Bid for American Apparel*/

– Amazon is reported to be in the running to acquire American Apparel’s bankrupt business.The rumored deal immediately raised speculation about Amazon’s growing ambitions in the fashion business.But an acquisition of the struggling clothing retailer could also solve one of Amazon’s biggest ongoing problems: tension with President-elect Donald Trump.
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