Kanati Co. Board Names New CEO, Announces New Location

Kanati Clothing Co. today announced that its Board of Directors has appointed Mr. Peter Phaboriboun as Chief Executive Officer

TORONTO, ONTARIO, CANADA , August 20, 2015 /EINPresswire.com/ -- Kanati Clothing Co. today announced that its Board of Directors has appointed Mr. Peter Phaboriboun as Chief Executive Officer and member of the Board of Directors effective immediately. 

“Kanati Co. is one of those rare companies to have truly been a leader in manufacturing process and innovation, and I couldn’t be more honoured to have been chosen to lead the company,” Phaboriboun said. “The opportunity ahead for Kanati Co. is vast, but to seize it, we must reorganize and focus clearly, move faster and continue to transform.”

Under Phaboriboun’s leadership, the company will work towards each division being able to function independently and focus on their separate and distinct identities. Kanati Co. operates multiple divisions including its retail operations, manufacturing, design services and its signature private label. 
In addition, the company also announced the opening of its newest retail location at the corner of King and Princess in Waterloo, Ontario that is set to open on August 29th, 2015. The location will feature high quality Made in Canada products including Red Canoe.

About Kanati Co.

Kanati Clothing Company is a Canadian menswear label, retailer and manufacturer based in Toronto, Ontario. Founded in 2009, Kanati Clothing Company is an industry leader in private label manufacturing services. ItsMade-on-Demand services allow for companies to meet their retail demand based on a pre-qualified membership. The Kanati Co. brand is sold in 14 countries and has a flagship store in Waterloo, Ontario.

To learn more about Kanati Clothing Company visit www.kanaticlothingco.com


Via: Boston.com

Karmaloop sale approved, CEO Selkoe to be replaced

In the end, Kanye West didn’t swoop in to buy online retailer Karmaloop Inc. and founder Greg Selkoe is on his way out as the bankrupt company’s chief executive.

A federal bankruptcy court judge Thursday approved the $13 million sale of the Boston-based online streetwear retailer to a group of senior lenders. The sale marks the end of Selkoe’s leadership at Karmaloop, a company he founded in the basement of his parents’ Jamaica Plain home in 1999.

As recently as this spring, Selkoe said he would keep his job as chief executive of the company and hinted that West was in talks to buy Karmaloop.

But the new owners, Comvest Capital of West Palm Beach, Fla., and Chicago-based CapX Partners, were the only group to submit an offer to buy Karmaloop in a bankruptcy auction process. The firms plan to replace Selkoe and install new management at Karmaloop in the coming weeks, according to Robert O’Sullivan, a partner at Comvest Capital.

O’Sullivan said Selkoe will remain involved with the company in an advisory role. Selkoe said he was “excited about the new capital coming into the business as well as my new role.”

The firms will continue to operate Karmaloop in the US and Europe, as well as the company’s Kazbah marketplace and PLNDR website, O’Sullivan said. The business will remain headquartered in Boston.

“This is a new chapter in the Karmaloop story,” O’Sullivan said. “We’ll be a debt-free business, have a new owner and the ability to put more capital into the business. We’re excited about the brand and we’re excited about owning the company.”

Read the full story on Beta Boston here: http://www.betaboston.com/news/2015/05/21/karmaloop-sale-approved-ceo-selkoe-to-be-replaced/

Kanati Clothing Company Opens New Canadian Facility

WATERLOO, ONTARIO, CANADA, April 14, 2015 /EINPresswire.com/ -- After making the choice to close doors on all overseas operations, Canadian-based manufacturer and retailer Kanati Clothing Company officially opened the doors on its domestic facility on the outskirts of Waterloo, Ontario today to produce all of its products domestically in Canada.

The new facility features state-of-the art machinery and employs local, skilled craftspeople. “We believe manufacturing overseas is no longer the right approach to best meet the needs of our clients” said Kyle Findlay, Manager at Kanati Co He continued “With this facility in Canada we have hands on control of all aspects of production and eliminate lead and transport times as well as other delays and risks associated with overseas production."


About Kanati Co. and The Cut & Sew On-Demand Program

Kanati Co. is a Canadian menswear label, manufacturer and retailer. It was founded in 2009 and is distributed internationally. As a manufacturer it offers a range of services for private labels on a membership basis.

Kanati Co’s Cut & Sew On-Demand program enables private labels that are in or close to having a retail presence offer a wider selection of goods to their customers by eliminating a majority of costs for a private label. This includes manufacturing and shipping as little as one item at a time. The program also supports retail expansion. For more information, visit www.kanaticlothingco.com/site/manufacture

Karmaloop bidding could start as low as $13 million

The starting bid for Karmaloop Inc. could be as low as $13 million, according to court papers related to the bankruptcy case.

Karmaloop, an e-commerce company that sells men’s and women’s streetwear, filed for bankruptcy last week with a plan to sell the business in an auction. The Boston company said it was weighed down by more than $100 million in debt from ill-fated business ventures. Karmaloop said its sales declined to $80 million last year, down from $120 million in 2013. The bankruptcy filing also listed assets of $10 million to $50 million.

A group of Karmaloop’s senior lenders, led by Comvest Capital, plan to offer the initial bid, known as the “stalking horse.” Frank A. Segall, a lawyer for Karmaloop, previously said Comvest would place a modest bid to encourage other parties to participate. Documents indicate Comvest will offer to forgive $13 million in debt Karmaloop owes the company in lieu of cash.

Prior to the bankruptcy, Karmaloop hired the Boston financial advisory firm Consensus Advisors to search for potential buyers. Consensus reached out to more than 150 investors and were unable to find a buyer.

Segall said Karmaloop has been in talks with several interested parties since it filed for bankruptcy. Despite rumors, rap mogul Kanye West and entrepreneur Dame Dash have not purchased the company or made a formal offer, he said.

Karmaloop asked the court to set an auction date for May 19.

Read more from The Boston Globe

Kanati Clothing Co. Announces Canadian Production

After months of problems with its supply chain in Pakistan; Kanati Co. has announced via the International Business Times that it is re-shoring all of its production to Canada in Waterloo, Ontario. Read the full statement here

Nike Pro Combat Hyperwarm Flex

Adidas Originals by Kanye West | YEEZY BOOST

The YEEZY BOOST is Kanye West’s first collaboration with adidas Originals.  The limited-edition sneaker is exquisitely designed featuring beautiful yet simple materials. The silhouette transcends footwear trends and champions the next way of thinking about sneaker fashion.  Featuring adidas’ coveted boost cushioning technology, the YEEZY BOOST will combine the ultimate in comfort and performance with high-end style.

Model Deanne Jean Vanwinkle for Kanati Clothing Co. in 365 Vision Magazine

Fashion Life: Interview with Fashion Designer Liam Massaubi

Follow Kanati Co. on Twitter! @KanatiClothing