Today's retail news is American Apparel getting sold to an investment firm for $382.5 million. In case you were wondering, that's the equivalent of over 13 million copper lame shorts — so hot right now! Snap it up!. Or beaucoup handy cash to get rid of those pesky "my boss is a pervert" sexual harrassment allegations. The firm has hopes that one day AA can be as big as American Eagle Outfitters and Abercrombie & Fitch. It's pretty hot on A&F's tail at least as far as risque ads go.
Dov Charney will still be kept on as figurehead. So perhaps with luck, his face can be spread even further across America as that creepy guy staring at you from your TV. You know, like the Burger King.
American Apparel Sold To An Investment Firm [NY Times]