What New Guards Group does

New Guards Group Holding S.p.A. (NGG) is a Milan-based fashion brand management and holding company founded in 2015 by Davide De Giglio, Claudio Antonioli, and Marcelo Burlon. The company operated as a holding entity for a portfolio of luxury streetwear and contemporary fashion brands, including Off-White (acquired 2021), Palm Angels, Ambush, Alanui, and Heron Preston, and previously held a Reebok distribution license and acquired Opening Ceremony in 2020. Its business model centered on acquiring or taking stakes in independent fashion labels, then providing brand management, strategic development, distribution support, and operational expertise to scale them globally.

NGG was subject to the management and coordination of Farfetch Ltd. and operated as a Farfetch subsidiary until Farfetch's collapse in 2023-2024, at which point it became a subsidiary of South Korean e-commerce group Coupang. Following CNC debt restructuring proceedings in Italy initiated in late 2023 and the loss of the Reebok distribution license, NGG has been actively divesting its brand portfolio: Palm Angels was sold to Bluestar Alliance in February 2025, and Ambush and Alanui were bought back by their original founders in 2025. The company continues to undergo restructuring and is in a portfolio wind-down phase under Coupang's ownership.

Name

New Guards Group

Legal name

New Guards Group Holding S.p.A.

Website

https://newguardsgroup.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

501–1,000 employees

Short description

New Guards Group is a Milan-based fashion holding company that owned and managed luxury streetwear brands including Off-White, Palm Angels, Ambush, and Alanui. Founded in 2015 and now a Coupang subsidiary, it is undergoing debt restructuring and divesting its brand portfolio.

Ownership category

akta.pro rank

Headquarters

HQ city

Milan

HQ country

Italy

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Marketing or Sales, Operations, Supply Chain

Revenue model

1. Brand portfolio management: New Guards Group operated as a fashion brand management and holding company, generating revenue through ownership stakes in multiple luxury streetwear brands including Palm Angels, Off-White, Ambush, and Alanui. The company managed brand operations, distribution, and strategic development.
2. Brand divestiture and restructuring: The company has been divesting brands from its portfolio, with Palm Angels sold to Bluestar Alliance and Ambush founders buying back their stake, reflecting ongoing restructuring following financial difficulties.

Distribution channels1 record

Core offering

New Guards Group Holding S.p.A. was a Milan-based fashion brand management and holding company that owned, developed, and distributed a portfolio of luxury streetwear and contemporary fashion brands including Palm Angels, Off-White, Ambush, Alanui, Heron Preston, and Opening Ceremony. The company provided brand management, strategic development, licensing, and distribution support to its portfolio labels, generating revenue through ownership stakes, royalties, and brand transactions.

Product overview

New Guards Group (NGG) Holding S.p.A. is a fashion brand management and holding company, subject to management and coordination of Farfetch Ltd., based in Milan. The company previously owned and managed a portfolio of fashion brands including Ambush (high-end jewelry and apparel), Alanui (high-end knitwear), and Palm Angels (luxury streetwear). The portfolio has undergone significant restructuring, with brands including Ambush, Alanui, and Palm Angels being divested or sold back to their original founders between 2024-2025 as part of NGG's debt restructuring proceedings in Italy.

Differentiator

Problem solved

Functional benefit

Products and services

• Palm Angels

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators5 records

Recent moves6 records

Expansion highlights2 records

Direct peers

• Tomorrow London Holdings: London-based fashion brand management and distribution company with a portfolio including A.P.C., Maison Kitsuné, and Opening Ceremony (NGG acquired Opening Ceremony from Tomorrow-adjacent operations). Directly comparable as a peer specializing in brand incubation and management.
• OTB (Only The Brave): Italian luxury and streetwear holding company founded by Renzo Rosso, controlling brands like Diesel, Maison Margiela, Marni, and Jil Sander. Most directly comparable peer — same Italian base, same brand-acquisition-and-management model, similar streetwear-adjacent brand portfolio.
• Puig: Spanish family-owned fashion and fragrance holding company that owns brands like Carolina Herrera, Jean Paul Gaultier, and Paco Rabanne. Comparable as a privately-held European fashion holding with a similar brand acquisition and management playbook.
• Bluestar Alliance: US-based brand management company that owns and manages a portfolio of fashion and consumer brands including recently-acquired Palm Angels from NGG. Directly comparable as a peer that acquired NGG's marquee asset and operates a similar brand portfolio management model.

Broad incumbents

• Richemont: Swiss luxury conglomerate owning Cartier, Van Cleef & Arpels, and fashion brands like Chloé. Comparable as a European-headquartered multi-brand luxury holding with similar portfolio management approach.
• Kering: French luxury group holding Gucci, Saint Laurent, Bottega Veneta, and Balenciaga. Comparable as a publicly-traded multi-brand luxury holding company with a similar portfolio strategy focused on high-end fashion brands.
• Capri Holdings: Publicly-traded US luxury holding company owning Michael Kors, Versace, and Jimmy Choo. Comparable as a multi-brand luxury holding structure, though significantly larger and operating at scale rather than in transition.
• Tapestry Inc. US-based accessible-luxury holding company owning Coach, Kate Spade, and Stuart Weitzman. Comparable as a multi-brand fashion/accessories holding company with centralized management infrastructure.
• LVMH Moët Hennessy Louis Vuitton: World's largest luxury conglomerate with 75+ brands across fashion, leather goods, and spirits. Acquired 60% of Off-White separately from NGG, making it directly connected to NGG's portfolio history. Comparable as the dominant incumbent in luxury brand management.

Regional players

• Marcolin Group: Italian eyewear company that produces and distributes branded eyewear under licenses (Tom Ford, Ermenegildo Zegna, etc.). Comparable as an Italian-headquartered brand management and licensed distribution business — a parallel model to NGG's pre-restructuring operations.

Market position

Weaknesses4 records

Competitive moat2 records

Key risks6 records

Key highlights5 records

Customer concentration

• LinkedInlinkedin.com/company/new-guards-group

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about New Guards Group