Palace Skateboards Said in Investment Talks

Could Palace Skateboards be the next buzzy streetwear purveyor to attract an investment? According to sources, the London-based firm has held under-the-radar discussions in recent months to sell a stake. The likelihood of a deal could not immediately be learned, and talks are described as being at the exploratory stage. It is understood the process is being aided by investment bank Rothschild. Founder Levent Tanju did not respond to repeated requests for comment. While hoodies and sneakers have been usurped on runways by tailoring and other dressed-up looks, elite streetwear firms have recently attracted the attention of the money crowd, with skateboard firm Supreme achieving a $1 billion valuation following an investment by private equity giant Carlyle in 2017, and e-tailer Farfetch swooping in last month to acquire New Guards Group, licensee of Virgil Abloh’s Off-White brand, for $675 million. Palace is a smaller, newer contender, but equally prized for its astronomical growth trajectory, meaty margins and a sophisticated business model blending video content, social media savvy, community building and merchandise. The brand counts 1.5 million followers on Instagram. (By comparison, New York-based Supreme boasts more than 13 million.) Select collaborations with blue-chip brand partners including Polo Ralph Lauren, Umbro and Adidas have widened its appeal beyond the skater

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