1、Quarterly Review2025FASHION&APPARELQ22FASHION&APPAREL QUARTERLY REVIEW Q2 2025|IN THIS ISSUELincolns Q2 2025 Fashion&Apparel Quarterly ReviewEXECUTIVE SUMMARY Fashion&Apparel Trends and Insights Sector Spotlight Brands Respond to Changing Market Dynamics Market Summary and Perspectives,Public Compan

2、ies and M&A TransactionsIn the second quarter of 2025,the fashion and apparel mergers and acquisitions(M&A)market remained subdued by the same macroeconomic headwinds that weighed on activity in Q1.Trade tariffs and geopolitical tensions have dampened deal-making enthusiasm.Although the broader M&A

3、environment saw a slowdownmarking the first global back-to-back quarter decline in deal volume since Q3 2023the sector continued to draw interest from strategic and financial buyers.While still exposed to some external pressures,well-capitalized acquirers are still selectively pursuing strong brands

4、.According to S&P Global,7,800 deals were completed worldwide in Q2 2025,representing a 9%drop from the 8,500 deals in Q1 2025 and a 15%decrease over the 9,000 deals recorded in Q2 2024.This overall slowdown is largely attributable to a mix of factors including uncertainty surrounding tariffs,geopol

5、itical tensions and public market volatility,all of which have contributed to a more cautious investment climate.Despite these headwinds,Q2 2025 witnessed a series of high-profile transactions that reaffirmed the lasting value and investor confidence in fashion and apparel brands.Notable deals inclu

6、ded the acquisition of Versace by Prada Group,the acquisition of Skechers by 3G Capital,the acquisition of Foot Locker by Dicks Sporting Goods,the acquisition of Jock Wolfskin by Anta Sports and the acquisition of Dockers by Authentic Brands Group.Looking ahead,investor appetite remains optimistic,s