Despite bringing in Lil Yachty to boost the brand and appeal to a younger demographic, Nautica has failed to connect and is now currently looking for a new owner. VF Corp., the clothing giant that also owns North Face, Vans and Wrangler, announced on Friday that it would be shedding Nautica from its portfolio of companies.
Why This Matters: Nautica reported a net loss of $95.2 million in 2017. According to BoF, The move follows a long slide for Nautica, a brand know for its bright colors and yacht lifestyles. The clothing line was embraced by hip-hop and R&B artists in the ’90s, part of a fashion scene that included prominent logos and oversized clothes.
Notable Quotes: “Nautica’s not gone — it’s up for sale. Maybe a better owner can help it achieve its full potential.” – VF Corp Chief Executive Officer Steve Rendle