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Retail Embodiment of Sartorial Perversion To Be Acquired By Investment Firm

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Andrew Ross Sorkin and Michael Barbaro reported last evening that American Apparel will be bought by Endeavor Acquisition Corporation, owned by Jonathan J. Ledecky, for $382.5 million. AA is known for its solid-colored and emblem-free clothing, and, perhaps moreover, for making its customers feel uncomfortable with its not-exactly-soft-core-porn-but-on-that-track ads that appear on the website and in the stores. (Like the one for dresses in which a girl faces away from the camera, hands on the wall, head turned toward us with a look on her face that's a mix of "come a little closer" and "I'm scared." It's not Maxim but you're still kind of thinking to yourself, "Um, I'm a little uncomfortable here," "Who the hell switched the American Apparel pics with the stills from Boogie Nights again?" and "Does that thing come in black? Because that's something I could get behind. Blue's just not my color").
Apparel became an overnight hit when it was founded in 1997 in LA, spawning 145 stores. However, whereas those that opened in 2005 saw 45% revenue growth, new stores in 2006 grew a measly 7%, Sorkin and Barbaro note. Nonetheless, Endeavor is confident that AA has the potential to open 800 stores, a prediction that might not be too far off base-- those T-shirts are prettty sweet (this one being our most recent purchase). Mr. Charney, the steward of this sordid ship, agrees too, (strangely) commenting, "I think we will get beyond that number...It's all about manifest destiny. Wherever FedEx goes, we will go."
Perhaps with Endeavor's help, he'll be able to do just that. And this association just might actually be the thing that'll save American Apparel from the creepiness of its one-man masturbation show. After all, as a wise man once said, "Trust me Bart, it's better to walk in on both your parents than on just one of them."
American Apparel to Be Sold to Investment Firm [NYTimes]


Investment Firm Funded By Robert Durst Making It Rain

As one of the wives that got to live can attest.