Coupang closes Ngg++

There is no good news for New Guards Group (NGG), the Milan-based company located in Via Turati, which manages Farfetch's fashion activities. As reported by Mff, the company will soon lose a new element, following the sale of the Palm Angels, Off-White, Alanui and Ambush brands. On April 30, Ngg++, the division created in 2023 to manage the distribution licence for Reebok clothing and footwear in Europe and the UK, will officially close. This is a consequence of the termination of the agreement with Authentic Brands, which owns the American sportswear brand. A redundancy and voluntary redundancy incentive scheme is planned for a total of 60 employees.