The US fashion and media group Authentic Brands Group LLC (ABG) is further expanding its activities. On Thursday, the group, which has acquired numerous well-known clothing brands and retailers in recent years, announced a strategic partnership with entrepreneur and former soccer player David Beckham. As part of the agreement, ABG will assume global management of Beckham’s brand and acquire an equity stake in it, the statement said. At the same time, the group becomes a major shareholder in the media production company Studio 99, founded by Beckham. In return, the former England international will become a shareholder in ABG.
With the partnership, ABG not only expands the portfolio in the entertainment segment, in which well-known brands from the world of sports such as Muhammad Ali, Shaquille O’Neal and Sports Illustrated are already represented. At the same time, the cooperation with David Beckham is an important step in the strategy to “expand the business presence, launch new vertical activities and drive growth in key regions such as EMEA and APAC,” the company said. In this context, the Group also announced the opening of its new European headquarters in London, which will house the “David Beckham Team” in the future.