According to Empire Data Bank of Japan, Japanese fashion brand PHENOMENON and SWAGGER designer Takeshi Osumi has filed bankruptcy protection for both himself and the brands. Despite ¥1.3 billion JPY worth of sales since 2007 (approximately 10.8 million USD), sources point to rising costs for shipping as well as cash-flow deterioration as reasons for filing. As it stands, both brands are currently in ¥47 million JPY-worth of debt (approximately $508,000 USD) as of this reporting.
PHENOMENON & SWAGGER Designer Takeshi Osumi a.k.a Big-O Files for Bankruptcy Protection
Hypebeast - 4 Feb 2013 14:29
According to Empire Data Bank of Japan, Japanese fashion brand PHENOMENON and SWAGGER designer Takeshi Osumi has filed bankruptcy protection for both himself and the brands. Despite ¥1.3 billion JPY worth of sales since 2007 (approximately 10.8 million USD), sources point to rising costs for shipping as well as cash-flow deterioration as reasons for filing. As it stands, both brands are currently in ¥47 million JPY-worth of debt (approximately $508,000 USD) as of this reporting.
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