The running list of major retail deals in 2021
Last year, several retailers inked deals in the form of partnerships, acquisitions and initial public offerings, among other things.
Retail Ecommerce Ventures snapped up the IPs of bankrupt retailers, including Pier 1, Modell's and Stein Mart. VF Corp — the owner of Vans, The North Face and Timberland — acquired cult-favorite streetwear label Supreme for $2.1 billion. And several companies went public, including DTC darling Casper, resale platform Poshmark and pet specialty retailer Petco.
In fact, IPOs across industries reached a two-decade high in 2020, reaching 407 — a 109% increase year over year, according to data from Trading Platforms. And while retail IPOs were off to a slow start at the beginning of the year, activity picked up in the back half, with eight companies filing for an IPO in the fourth quarter and total IPOs for the year hitting 12, according to FactSet.
But last year also saw the collapse of several deals as the pandemic rattled the industry. Private equity firm Sycamore Partners was set to acquire L Brands-owned Victoria's Secret in a $525 million deal, but following weeks of back-and-forth in court, the companies announced a "mutual termination" in May. And J. Crew and Gap Inc., which announced intents to spin off their well-performing Madewell and Old Navy banners, backed out of those plans.
Now, well into 2021, we're keeping an eye on — and tracking — the most important mergers, acquisitions, IPOs and other deals. Here's the running list of major deals thus far:
Correction: A previous version of this article misstated the month of Harry's recent fundraising. It raised $155 million in March.