On February 1, UC Berkeley graduate Andrew Buxton opened a brand new concept store in the Westfield Century mall, dedicated to sustainable, handcrafted goods from independent fashion and beauty brands, around half of which are local to Los Angeles.
Atlas has opened its first store at Westfield Century City – Atlas
“Initially, we discovered new brands through social media and personally reached out to each once,” said Buxton. “Once we launched our Instagram account and had more of a social media presence, the dynamic shifted-brands started reaching out to us! While our selection primarily features American brands, we also carry a few standout international labels. We seek our brands that prioritize sustainability and ethical practices but also have compelling, purpose-driven missions. Our focus is on designers and makers who are passionate about a positive impact through their craft.”
Occupying a 3,100-square-foot space previously held by Lululemon, Atlas’ selection carries around 120 sustainable brands at a wide range of price points.
“Our first Atlas store is designed with a timeless coastal aesthetic to be warm and inviting, creating a space where customers feel welcomed and inspired to discover new brands,” explained Buxton. “A key element of our design is the dedicated plaques for each of our brands, offering a brief yet meaningful glimpse into their mission and story. We believe this personal touch fosters a deeper connection between customers and the independent brands we champion—many of which are experiencing traditional retail for the first time.”
From everyday and occasion wear by Surf Trip Supply and Aisol, to viral beauty products from Kikiz Cosmeticz and artisanal candles by Soleia Lane, Atlas offers something for everyone. Among them is The Lalela Scarf, a brand that donates 100% of its profits to Lalela, a nonprofit offering arts education to youth in under-resourced South African communities. The designs are created using Lalela learners’ original artworks, making a sustainable cycle of life-changing art.
Andrew Buxton, founder and CEO of Atlas retail store – Atlas
On the jewelry side, Sky Metals Gallery was founded by a mother of a child with special needs. Seeking an outlet for expressing her creativity, she turned to crafting delicate, everyday pieces that allow her to also give back. With every purchase, Sky Metals Gallery donates part of its proceeds to the Hydrocephalus Association, an organization near and dear to founder Caitlin Campbell’s heart.
For those looking to discover a new cult favorite, Nhobias – a New York-based luxury streetwear brand is dedicated to bringing balance and unity to a world full of extremes. From everyday athleisure to an unexpected twist on classic styles, Nhobias is on a mission to raise the bar, pushing forward ideas that encourage critical thinking, dialogue, and growth.
Atlas, which does not communicate on its remuneration method with committed brands, hopes to reinvent modern retail by bringing consumers back into brick-and-mortar stores.
“Each of our brands has its own online presence so by providing them the physical space to showcase their pieces and incredible stories in high-traffic shopping destinations,” added Buxton. “They’re able to connect with consumers in a whole new way that might never have been available to them otherwise. Over the last decade, in-person retail has become more competitive and especially challenging for small, up-and-coming brands. Atlas was created to be a springboard for our brands, enabling them to grow, gain valuable insights, and achieve the success they deserve.”
Atlas store carries more than 120 sustainable fashion and accessories brands – Atlas
Buxten, who grew up in Los Angeles, saw the Westfield Century City mall as the perfect location for his concept: “Los Angeles is an ideal city for the launch and growth of Atlas. One of the global leaders in fashion and lifestyle trends, Los Angeles has such a rich network of small brands, creatives, and shoppers that are looking for fresh, innovative retail experiences. With an emphasis on sustainability and conscious consumerism, we’re bringing over 100 small, diverse, ethically made brands to high-traffic destinations. Atlas is offering a retail model that not only meets but elevates the expectations of Los Angeles shoppers,” the founder added.
Supported by several renowned investors, the Atlas project first won over entrepreneurship professor Umair Khan. “As a founding partner at Mentors Fund, [Khan] decided to back Atlas and became our first investor,” said Buxton. The project then received the support of another Berkeley Professor and co-creator of Guitar Hero, Charles Huang, as well as guest speaker and co-founder of Lime, Brad Bao.
Aged just 19, Buxton admits that his young age was not a problem. “Age doesn’t have to be a handicap,” said Buxten. “I actually see it as an advantage. However, I recognize that, to succeed, I have to prove myself and be willing to learn and trust those who are more experienced in the industry. While working with Umair, I discovered that I am the first student he has taken a risk on and invested in. He acknowledged that I am young and people will question, ‘Can a 19-year-old actually pull this off?’ Questions like these don’t have to be seen as expressions of doubt or hesitation. I see them as motivators to push the boundaries of what can be expected of a young entrepreneur.”
After the opening of Atlas in Los Angeles, Buxton is already thinking of extending the concept into other major cities like San Diego and San Jose, before bringing Atlas to other key markets across the U.S soon after.
“A core part of our mission is ensuring that as Atlas grows, many of the brands we champion grow with us,” added Buxton. “Each new location offers our independent brands the opportunity to reach new audiences, helping them scale in a way that feels organic, sustainable, and provides vital insights into different markets. We’re excited for the future of Atlas and continuing to support emerging brands on their journey.”
Italian luxury group Prada has been given access, ahead of any other potential suitors, to the financial data of smaller rival Versace which owner Capri Holdings has put up for sale, a source close to the matter said on Wednesday.
Prada has four weeks to conduct its assessment, the source said, as it weighs an acquisition that would mark a significant shift in strategy. No decision on whether to actually pursue the deal has yet been taken at this stage, the source added.
Capri Holdingss is working with Barclays to explore a sale of its Versace and Jimmy Choo brands, sources told Reuters this year. Prada and Barclays declined to comment. Capri Holdings was not immediately available for a comment.
Prada last completed acquisitions of other brands in the late 1990s and has been focusing on internal growth since then, defying expectations it could aspire to create a larger Italian fashion hub.
The acquisition of Versace would allow Prada to target a different customer group, with tastes far from Prada’s trademark minimalism. But the Hong-Kong listed group would also have to deal with a challenging turnaround of the Medusa-logo brand, industry sources said. Versace reported a 15% decline in revenues in the third quarter ending on December 28 and the operating loss increased to $21 million in the period, from $14 million a year earlier.
Capri Holdings expects Versace’s revenues to drop to $810 million in the 2025 fiscal year and the operating margin to break even in the following fiscal year, according to long term financial targets published on Wednesday.
The brand’s performance and the sector’s bleak outlook could make it hard to set a price, complicating negotiations, according to industry sources, who said a turnaround would require investment.
Capri Holdings, formerly known as Michael Kors, bought Italian luxury brand Versace in 2018, for 1.83 billion euros including debt. The four week exclusivity deal was first reported on Thursday by Italian daily Il Sole 24.
The European Commission will propose at least five sets of legislation this year to spur investment and simplify regulation on companies, including in the field of artificial intelligence, the European Union’s digital chief said on Thursday.
European Commission Executive Vice-President for Tech Sovereignty, Security and Democracy Henna Virkkunen – Reuters
The executive Commission is under pressure from EU member countries such as France to ease regulations, and also faces challenges from the administration of U.S. President Donald Trump.
A draft European Commission paper reported by Reuters last month showed AI, biotech and affordable clean energy were areas of focus as EU policymakers seek to make the bloc globally competitive.
“I personally think that we have too much of a heavy administrative burden and bureaucracy,” European Commission Executive Vice-President for Tech Sovereignty, Security and Democracy Henna Virkkunen said on Thursday. “That is why the Commission will this year present at least five legislative simplification packages, which will cut down on the extra bureaucracy, above all in order to promote investment and innovation in Europe,” she told reporters in Helsinki.
Virkkunen last month said the European Union continues to enforce its big tech regulation despite some U.S. companies calling on Trump to stop the bloc from fining them.
One of the five packages, expected to be introduced late this year, would address overlap between the EU’s artificial intelligence act, the digital services act, the digital marketing act and the union’s general data protection regulation, Virkkunen said.
“But that does not mean that the goals of these legislations would not be enforced,” she said.
She added the aim was to streamline legislation to make operating easier for companies because often the same companies have to make sure they comply with several different acts.
Other packages would be designed to ease regulation covering sustainability, small companies and agriculture, Virkkunen said.
Gold exports from Switzerland rose year on year in January as supplies to the United States soared to the highest in at least 13 years and offset lower deliveries to top consumers China and India, Swiss customs data showed on Thursday.
Reuters
Switzerland, the world’s biggest bullion refining and transit hub, alongside Britain which is home to the world’s largest over-the-counter gold trading hub, saw a surge in gold transfers to the U.S. in recent months as President Trump readies wide-reaching import tariffs that some market participants fear could affect gold deliveries.
The concern has widened the price premium between U.S. gold futures and London spot prices, attracting massive deliveries to Comex gold inventories.
According to the Swiss data, gold exports from the country to the U.S. rose to 192.9 tons in January from 64.2 tons in December. This was the highest monthly amount of exports in the customs data going back to 2012.
Trump has not mentioned precious metals are likely to be targeted at all, but since late November, when he pledged to impose tariffs on imported products from Canada and Mexico, 20.4 million troy ounces (636 metric tons) of gold worth $60 billion at current prices were delivered to Comex-approved warehouses.
These deliveries raised Comex gold stocks by 116% to 38.0 million ounces, the highest since March 2021, and tightened liquidity in the London OTC market.