The US financial investor General Atlantic has promised the fashion brand empire Authentic Brands Group LLC (ABG) an investment of 500 million US dollars (around 460 million euros), ABG reports in a press release. The investor is thus continuing the partnership that has existed since 2017 and is supporting the strategic expansion of the company into the leading brand platform. In total, General Atlantic has invested almost two billion US dollars (around 1.85 billion euros) in ABG.
Global expansion is part of ABG’s strategy. Since General Atlantic’s initial investment, ABG has completed nearly 30 brand acquisitions, including Ted Baker, Reebok, PVH Corp’s Heritage Brands, Eddie Bauer, Brooks Brothers and Forever 21 in the last two years.
New on board: Vince, Hunter and Boardriders
Most recently, ABG acquired the intellectual property of luxury lifestyle brand Vince and outdoor lifestyle brand Hunter and signed a definitive agreement to purchase active lifestyle company Boardriders, which includes brands Quiksilver, Roxy, DC Shoes, Billabong and more belong. At the beginning of April, ABG announced its interest in buying the Australian-US activewear company, and negotiations have been going on ever since.
The company also operates media and most recently presented Authentic Studios, a full-service production studio spanning four distinct labels including Shaquille O’Neal’s Jersey Legends, David Beckham’s Studio 99, Sports Illustrated Studios and Authentic Productions.
ABG was founded in 2010 and today owns more than 40 brands from the sports and fashion world. In addition to the most recent acquisitions, these include Hervé Léger, Frye, Juicy Couture, Nine West, Spyder, Volcom, Tretorn and Airwalk. With this, ABG generates annual retail sales of more than 25 billion US dollars (approx. 23 billion euros) worldwide and operates stores in 150 countries, including more than 10,800 freestanding stores and shop-in-shops and 380,000 points of sale.
AGB’s other shareholders include BlackRock, CVC Capital Partners, Simon Property Group, HPS Investment Partners, Leonard Green & Partners and Brookfield.