Search

    Select Website Language

    GDPR Compliance

    We use cookies to ensure you get the best experience on our website. By continuing to use our site, you accept our use of cookies, Privacy Policy, and Terms of Service.

    SSENSE Founders Win Bid to Maintain Control

    3 days ago

    SummaryThe Atallah family has successfully won a court-approved bid to retain full ownership of Ssense, ensuring the luxury e-tailer remains under the control of its original founders as it exits bankruptcy protectionExpected to close by February 13, 2026, the deal provides much-needed stability for employees and partners, with the existing executive team remaining in place to lead day-to-day operationsTo maintain continuity amidst a volatile luxury market, Ssense has utilized interim financing to pre-pay for Fall/Winter 2025 and Spring/Summer 2026 inventory, signaling a commitment to its brand suppliersThe future of SSENSE has been secured by the very hands that built it. Over the weekend, the luxury e-commerce giant announced that a Canadian court has accepted a bid from co-founders Rami, Firas, and Bassel Atallah to retain ownership of the company. Partnering with a Canadian multi-family office, the Atallahs successfully moved to keep the Montréal-based retailer under founding control as it prepares to emerge from bankruptcy protection.The deal, expected to close by February 13, 2026, follows a turbulent period that began when SSENSE filed for restructuring in September 2024 to manage over $200 million USD in debt. This strategic filing pre-empted attempts by creditors to force a third-party sale. In an internal memo, the executive team reassured staffers that "day-to-day leadership remains unchanged," emphasizing a commitment to providing "continuity and stability" for employees, suppliers, and global customers.While the broader luxury sector faces a reckoning—highlighted by LuisaViaRoma’s bankruptcy and the imminent filing of Saks Global—Ssense appears to be navigating a best-case recovery. Despite a reported 60% dip in U.S. monthly sales late last year, the company has stayed operational through interim financing. Crucially, Ssense has prioritized brand partnerships by making pre-payments for Fall/Winter 2025 and Spring/Summer 2026 inventory. By securing this bid, the Atallah family ensures that Ssense remains a vital, independent platform for the mix of established and emerging designers that defined its $4.5 billion USD peak.Click here to view full gallery at Hypebeast
    Click here to Read More
    Previous Article
    Kids Don't Need To Learn How To Read | #heresthething
    Next Article
    Official Look at the New Balance 991v2 “Elephant”

    Related Fashion Updates:

    Are you sure? You want to delete this comment..! Remove Cancel

    Comments (0)

      Leave a comment