WGSN (trend forecasting)
{{Short description|Trend forecasting company}}
{{Primary sources|date=February 2024}}
{{Use British English|date=June 2018}}
{{Infobox company
| name = WGSN
| type = Private
| foundation = {{start date and age|1998}}
| founders = {{ubl|Julian Worth|Marc Worth}}
| owner = {{ubl|Independent {{smaller|(1998–2005)}}|Ascential {{smaller|(2005-24)}}|Apax Partners {{smaller|(2024–present)}}}}
| location = West London, UK
| homepage = {{URL|wgsn.com}}
}}
WGSN is a trend forecasting company with offices in London, New York, Hong Kong and São Paulo. It supplies global brands with consumer and product design forecasts and provides business and marketing consultancy to clients.
History
WGSN was founded in 1998 in West London by brothers Julian and Marc Worth. In October 2005, it was purchased by Emap (now Ascential),{{Cite news |title=Ascential plans £800m initial public offering |url=https://www.ft.com/content/7f4f3650-ba8b-11e5-bf7e-8a339b6f2164 |access-date=2024-02-09}} a business-to-business publisher and exhibitions company, for £140m.{{Cite news |last=Cozens |first=Claire |last2=press |last3=correspondent |first3=publishing |date=2005-10-14 |title=Emap splashes out £140m on fashion portal |url=https://www.theguardian.com/media/2005/oct/14/emap.pressandpublishing |access-date=2024-02-09 |work=The Guardian |language=en-GB |issn=0261-3077}}
In 2013, the firm merged with its biggest competitor, Stylesight.{{Cite web |last=Musgrave |first=Eric |date=2014-07-11 |title=Best of WGSN and Stylesight to be combined in new WGSN.com service |url=https://www.drapersonline.com/news/best-of-wgsn-and-stylesight-to-be-combined-in-new-wgsn-com-service |access-date=2024-02-09 |website=Drapers |language=en}} Like WGSN, Stylesight had a vast library of fashion forecasting, trend information, archival photos, and even sketches and patterns for designers to use. Keeping the WGSN name, the new product has been designed around the technology developed by Stylesight and launched in 2014.{{Cite web |date=2014-08-04 |title=BoF Exclusive {{!}} WGSN Debuts Revamped Platform in Growth Drive |url=https://www.businessoffashion.com/articles/global-markets/bof-exclusive-wgsn-debuts-revamped-platform-growth-drive/ |access-date=2024-02-09 |website=The Business of Fashion |language=en}}
In November 2017, the company bought Use Fashion (now Start by WGSN), a regional competitor in Brazil, launching its secondary business focused on fashion entrepreneurs.
In 2024, WGSN announced an agreement between Apax Partners, a global private equity advisory firm, and Ascential for the acquisition of WGSN for £700m.{{Cite web |date=2024-02-02 |title=Funds advised by Apax complete acquisition of WGSN {{!}} Apax Global Alpha |url=https://www.apaxglobalalpha.com/news/funds-advised-by-apax-complete-acquisition-of-wgsn |access-date=2024-02-09 |website=www.apaxglobalalpha.com |language=en-GB}} The transaction was completed in February of the same year.{{Cite web |title=Apax Funds complete acquisition of leading trend forecasting business WGSN |url=https://www.apax.com/news-views/apax-funds-complete-acquisition-of-leading-trend-forecasting-business-wgsn/ |access-date=2024-02-09}}
Products
As an online service, the business derives its revenues from 9 different product subscriptions (WGSN Insight, WGSN Fashion, WGSN Interiors, WGSN Beauty, WGSN Food & Drink, WGSN Consumer Tech, WGSN Barometer, Coloro, TrendCurve+) and a custom advisory business (WGSN Mindset).{{Cite web |title=Products Archive |url=https://www.wgsn.com/en/product-design |access-date=2024-02-09 |website=WGSN {{!}} Creating Tomorrow {{!}} Trend Forecasting & Analytics}}{{Cite news |title=WGSN Debuts Revamped Platform in Growth Drive - Bloomberg |url=https://www.businessoffashion.com/articles/global-markets/bof-exclusive-wgsn-debuts-revamped-platform-growth-drive/ |access-date=2024-02-09}}
See also
- Coolhunting
- Extrapolation
- Technology forecasting
- Trend Forecasting
References
{{reflist}}
External links
- {{official|https://www.wgsn.com}}
Category:Companies based in New York City
Category:Market research organizations
Category:2024 mergers and acquisitions
Category:Apax Partners companies
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