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Photo: Harvard Yard
Bear with the brief background info. Harvard University's $45 billion endowment bubble burst and dropped to $36.9 billion in June 2008 and was expected to fall a staggering 23%-25% according to the Harvard Management Company. Facing insurmountable losses, it shouldn't come as a surprise that the prestigious university has increased private equity investments.
But, it should come as a surprise that 'fashion' was an agenda. More specifically, a ten year contractual menswear collaboration with Wearwolf Group for Harvard Yard, inspired by the 60s loungers of Harvard Yard -- Harvard's 25 acre public lawn, debuted with Martha's Vineyar-esque trousers, shirts and jackets. Jeffery Wolf, Wearwolf's executive president, had high aspirations with the preppy brand: "It's a style that has become current again and not just with the American consumer. We think Harvard Yard will have global appeal."
-- Francis Bea
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