Fashion Briefing: Naadam’s Matt Scanlan is Quietly Building a Brand Empire
It’s not the first time the head of an American has vocalized the goal of growing it to such an industry-dominating status. But it also didn’t cue an eye-roll, based on Scanlan’s explanation of what he’s building and how he’s building it, as well as his track record.
Little-known Naadam Collective kicked off in 2019 with an acquisition of fashion darling-turned-DTC brand Thakoon. It’s now made up of six brands, with a seventh in the contractual phase and set to close by the end of September. This year, the group is on schedule to reach profitability and bring in “hundreds of millions” in revenue. Within five years, the plan is to acquire 5-10 more brands and reach the $1 billion mark, with each brand scaling to drive, on average, $75 million-$150 million per year. Outliers like Naadam and Something Navy, the portfolio brand founded by fashion influencer, could reach $300 million-$400 million, Scanlan said.