Slate Swim , a minimalist swimwear label based in Los Angeles, officially has a new owner. However, rather than selling to a private equity firm or conglomerate looking to expand its portfolio, Founder Jessica Liao Mayers sold her brand in a "seven-figure" deal to an independent buyer named Natalie Wisniewski on Monday. (Mayers declined to comment further on the financial terms of the deal.) Mayers was just 21 years old when she founded Slate Swim in 2015 with $300 and a goal of filling the swimwear industry's gap for sleek, minimalist designs. Since then, Mayers has scaled the brand while remaining independent as celebrity fans like Kylie Jenner and Camila Cabello helped drive popularity. In Slate Swim's early days, Mayers was adamant that she would never sell it, but upon the label's 10-year anniversary, she realized she was ready for her next chapter. "I truly just felt so at peace and like I put in my time and this is its own thing now," she tells...
A popular way of dressing during a particular time or among a particular group of people. : the business of creating and selling clothes in new styles. : clothes that are popular.