Penske Media Corp. acquires FashInvest

Penske Media Corporation just announced Monday, November 27, its acquisition of FashInvest. The company, known as a company that connects fashion, technology, retailer, and branded consumer goods follows after Penske Media and its subsidiary Fairchild Media's acquisition of Sourcing Journal.

The purchase of FashInvest along with Sourcing Journal show Penske Media's current position in today's fashion and retail business coverage. "FashInvest has tapped into the vital intersection of finance and fashion—a business that has been built over the last decade on discovering and developing emerging fashion and retail brands and their access to capital markets. Fairchild Media has consistently been the leader in coverage of well-established global fashion brands, and with the acquisition of FashInvest the opportunity to deepen our coverage of emerging companies, start-ups, and the financial institutions (VC's, Private Equity, etc.) that are shaping the future fashion industry is dramatically enhanced," PMC Chairman and CEO Jay Penske said in a statement. "We are honoured to be the steward of this innovative company and continuing our investments in the Fairchild Media business."

FashInvest's future events will now be bolstered by PMC. The addition helps PMC's overall coverage of innovative startups and financing for the future. While WWD has already been on top of fashion and retail news, this will strengthen the publication in the future.