HUF Sits Pretty After Selling 90% Stake to Japanese Investors for $63-Million | Olympic skateboarding hype is growing
Looks like Keith Hufnagel made a wise move when he got out of the brick-and-mortar retail business and made HUF a shoe and clothing (but mostly weed sock) brand as HUF the brand just sold a 90% stake to Japanese investors Tadashi Saito and Tsi Holdings. They already do the distribution for HUF and has the Japanese Stussy license. What Keith himself will make off this deal is up in the air as Altamont Capital Group invested as partners for an undisclosed amount of ownership back in 2014 or so. For the record Altamont also has Dakine and Mervin Manufacturing and many others under its wing.
Hypebeast is claiming the major reason for the investment is because Olympic skateboarding hype is right around the corner so time to cash in and then cash out once Asia goes on a skateboarding kill crazy rampage.