DAILY NEWS: OPENING CEREMONY TO CLOSE STORES

Following Farfetch’s recent acquisition of New Guards Group, which was founded by Claudio Antonioli, Davide De Giglio and Marcelo Burlon in 2015, the latter has acquired the Opening Ceremony trademark and intellectual property. Opening Ceremony, cofounded by Humberto Leon and Carol Lim in 2002, is known for its far-sighted approach, serving as brand, retailer and collaborator all at once. New Guards Group also detains the license for Off-White and counts Palm Angels and Heron Preston in its portfolio. In the latest developments, Opening Ceremony plans to close all its retail locations sometime in 2020 to channel its efforts on growing and expanding the collections and brand. The edgy duo also wants to create a different retail experience with a new mind set and point of view, in the near future.