Investment talks of the exploratory variety have reportedly been on Palace Skateboards' recent agenda.
Sources said as much to Women's Wear Daily, who reported Wednesday that the London firm has indeed been the subject of hush-hush discussions in recent months regarding stake sales, though just how possible such a deal could be has not been disclosed. Per the report, Rothschild is said to be helping with the talks.
Lev Tanju and co-owner Gareth Skewis are said to be looking for a partner to help with the funding required for retail expansion of the brand, as well as with other development-related aspects of expanding its reach beyond its current three-continent level of popularity. Fans can also likely expect additional moves centered on growing its presence in women's wear.
By comparison, streetwear enthusiasts can look to recent deals involving Supreme and Off-White as setting a precedent for investment benefits. In 2017, Supreme bagged a billion-dollar valuation thanks in part to an investment from Carlyle. Virgil Abloh's Off-White, meanwhile, is licensed by New Guards Group, which was acquired by Farfetch earlier this year for $675 million.
Addressing the 10-years-strong chatter of the Palace brand earlier this year, Tanju explained to i-D that he and the team weren't really interested in buying into the anniversary hype.
"We didn't want to blow smoke up our own arses," he said. "It's only 10 years. Some shit brands have been going for 60 . . . It ain't rocket science, mate."
