This summer has seen a slew of several fashion tech acquisitions.
If it wasn’t Twice getting acquired by Ebay, it was Of a Kind being swiped up by Bed Bath and Beyond (of all companies), Rakuten leading the charge at Fits.me or Yahoo taking over Polyvore.
Now 2012 FashInvest Capital Conference alum Bib + Tuck has just announced the same has happened to them.
In an email sent Wednesday evening, the two Sari’s (Azout and Bibliowicz) announced that their fashion resale company had just been acquired by Crossroads, a national chain of buy-sell-trade stores.
“I can’t begin to express how grateful I am to all of you who in some way or another helped us, supported us, and spread the love for us through this amazing endeavor,” Azout said in the email. “Big or small, you all contributed and played a part in our story.”
Financial terms of the deal were not disclosed, but what we do know is that as of September 16th, the Bib + Tuck marketplace will no longer operate and all buying and selling activity will be halted. Support for cashing out on goods will remain through October 1st, Bib + Tuck executives said in a statement on their blog. Beyond that, you will be redirected to the Crossroads site where you will be able to buy and sell through their stores and platform.
We guess David Freschman wasn’t lying when he said all this would happen.
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