Authentic Brands Group Explained
Authentic Brands Group LLC |
Type: | Private |
Founder: | Jamie Salter |
Hq Location: | 1411 Broadway |
Hq Location City: | New York City |
Hq Location Country: | United States[1] |
Revenue: | $22.5 billion (2021) |
Owners: | |
Brands: | List of brands |
Authentic Brands Group LLC (ABG) is an American brand management company headquartered in New York City. Its holdings include various apparel, athletics, and entertainment brands, which it partners with other companies to license and merchandise.[2] ABG owns more than 50 consumer brands,[3] as well as the likeness rights or estates of celebrities, including Muhammad Ali, Elvis Presley, and Marilyn Monroe.
History
Origins and early work
The company was founded in 2010 by Jamie Salter, after he stepped down as CEO of Hilco Consumer Capital, a company that was involved in the restructuring of struggling consumer brands (such as Bombay Company and Polaroid Corporation).[4] Salter invested US$250 million in the new venture, and the majority of the equity was sold to Leonard Green & Partners. Two of ABG's first major purchases were the clothing brands Silver Star and Tapout. In January 2011, Authentic Brands Group acquired rights to the likeness of Marilyn Monroe.[5] [6]
2010s
In October 2013, ABG announced the purchase of Juicy Couture from Fifth & Pacific for US$195 million.[7] The following month, ABG acquired the estate of Muhammad Ali, and CORE Media Group's 85% stake in Elvis Presley Enterprises (which includes the estate of Elvis Presley, likeness rights, and music publishing assets).[8] [9] [10] [11]
In December 2015, basketball player Shaquille O'Neal signed with ABG to manage his likeness and marketing rights.[12] In September 2016, Julius Erving also sold his name and licensing rights to ABG,[13] and Aéropostale was purchased out of bankruptcy by a consortium that included ABG and other investors.[14] [15]
In March 2017, ABG became the controlling partner of Greg Norman's consumer products business.[16]
In March 2018, ABG announced that they would acquire Nautica from VF Corporation.[17] On June 10, 2018, ABG announced that it was the winning bidder for the intellectual property of Nine West Holdings.[18] The acquisition was completed on July 3, 2018.[19] On October 10, 2018, ABG announced that it had entered into an agreement to purchase a majority stake in the intellectual property of the Camuto Group's proprietary brands in partnership with DSW Inc.[20]
In May 2019, ABG announced its acquisition of sports magazine Sports Illustrated from Meredith Corporation for US$110 million.[21] The company stated it planned to leverage its trademarks and other non-core assets in new ventures. Meredith will continue to publish the Sports Illustrated magazine and digital properties under license for at least two years.[22] On June 18, 2019, it was announced that rights to publish the Sports Illustrated editorial operations would be licensed to The Maven under a 10-year deal, with Ross Levinsohn as CEO.[23] In August 2019, BlackRock became the largest shareholder in Authentic Brands.[24]
2020s
In May 2020, ABG and David Glasser's 101 Studios formed a joint venture, Sports Illustrated Studios, for feature film and television projects. The joint venture would have a slate of several TV series and films per year. The first announced project was the Covers two-hour docuseries based on the magazine's cover stories.[25]
In August 2020, it was announced that Brooks Brothers was sold to ABG and Simon Property Group, the biggest mall operator in the US. The new owners committed to continuing to operate at least 125 Brooks Brothers retail locations worldwide (down from 424 global locations before the COVID-19 pandemic).[26]
In June 2021, it was announced that ABG would acquire the Izod, Van Heusen, Arrow, and Geoffrey Beene brands from PVH.[27]
In July 2021, ABG filed for an estimated US$1.5 billion initial public offering.[28] [29] In November 2021, ABG withdrew its IPO, selling private stake in the company to CVC Capital, HPS Investment Partners, and other current stakeholders at a company value of $12.7 billion.[30]
In August 2021, it was announced that ABG would be acquiring the sports clothing brand Reebok from Adidas for at least US$2.5 billion in a deal expected to close in the first quarter of 2022.[31] Private equity companies CVC Capital Partners and HPS Investment Partners invested $3.5 billion in ABG in a deal that closed in November 2021.[32] ABG announced they would delay the IPO until 2023 or 2024.[33]
In April 2023, ABG made a binding offer to acquire Boardriders, Inc. for US$1.25 billion. Boardriders includes the Quiksilver, Billabong, Roxy, RVCA, DC Shoes, Element, Von Zipper and Honolua brands, as well as the retailer Surf Dive 'n Ski.[34]
In January 2024, Authentic Brands Group, which had bought Sports Illustrated for $110 million from Meredith in 2019, terminated the agreement it holds with The Arena Group to publish, leading to all Sports Illustrated staffers being laid off.[35] In March 2024, Authentic Brands Group relicensed Sports Illustrated to Minute Media; the company planned to rehire some of the affected employees.[36]
In January 2024, Wolverine World Wide announced the sale of Sperry to Authentic Brands Group who in turn is licensing the brand to the Aldo Group for North American operations.[37] In June 2024, Hanesbrands announced plans to sell the Champion brand to Authentic Brands for $1.2 billion.[38]
Portfolio
External links
Notes and References
- News: Weiss. Lois. Bids are in for Trinity Church cluster. New York Post. January 21, 2020. August 19, 2015.
- News: General Atlantic Makes Investment in Authentic Brands Group. Young. Vicki M.. October 30, 2017. WWD. October 4, 2018. en-US. https://web.archive.org/web/20180927005457/https://wwd.com/business-news/mergers-acquisitions/general-atlantic-investment-authentic-brands-group-abg-mergers-acquisition-brand-management-herve-leger-11038037/ . September 27, 2018. live.
- News: ABG's Nick Woodhouse on Building an Influencer Network. Palmieri. Jean E.. September 24, 2018. WWD. October 4, 2018. en-US. https://web.archive.org/web/20180927005432/https://wwd.com/business-news/markets/abgs-nick-woodhouse-on-building-an-influencer-network-1202819003/. September 27, 2018. live.
- News: Toronto native Jamie Salter rebrands Marilyn Monroe. The Globe and Mail. May 28, 2019. https://web.archive.org/web/20161029044801/http://www.theglobeandmail.com/report-on-business/rob-magazine/toronto-native-jamie-salter-rebrands-marilyn-monroe/article4102829/. October 29, 2016. live.
- Authentic Brands Group LLC and NECA Inc. Acquire the Intellectual Property of Marilyn Monroe LLC . PR Newswire . November 22, 2019 . https://web.archive.org/web/20190804002559/https://www.prnewswire.com/news-releases/authentic-brands-group-llc-and-neca-inc-acquire-the-intellectual-property-of-marilyn-monroe-llc-113448394.html . August 4, 2019 . live .
- Web site: Leonard-Green Backed Authentic Brands to Buy Rest of Marilyn Monroe . pehub.com . November 22, 2019 . https://web.archive.org/web/20190804005615/https://www.pehub.com/2014/05/leonard-green-backed-authentic-brands-to-buy-rest-of-marilyn-monroe/ . August 4, 2019 . live .
- News: UPDATE 1-Fifth & Pacific sells Juicy Couture brand for $195 million. Reuters. October 7, 2013. June 30, 2017. https://web.archive.org/web/20150924185648/http://www.reuters.com/article/2013/10/07/fifthandpacific-juicycouture-sale-idUSL1N0HX0KQ20131007. September 24, 2015. live.
- Web site: Elvis Presley brand sold to Authentic Brands Group . cbc.ca . November 22, 2019 . https://web.archive.org/web/20160704124752/http://www.cbc.ca/news/business/elvis-presley-brand-sold-to-authentic-brands-group-1.2434054 . July 4, 2016 . live .
- Web site: Sold! Elvis Presley Inc. has a new owner. Yan. Sophia. November 20, 2013. CNNMoney . May 28, 2019. https://web.archive.org/web/20190528030305/https://money.cnn.com/2013/11/20/news/elvis-property/index.html. May 28, 2019. live.
- Web site: Sting like a bee: ABG buys rights to Ali brand. November 19, 2013. ESPN . en. May 28, 2019. https://web.archive.org/web/20190528030305/http://www.espn.com/boxing/story/_/id/9999376. May 28, 2019. live.
- Web site: Elvis Presley Today: Graceland Proprietor on 'Blade Runner' Cameo, Hologram Plans, Changing Fanbase. Halperin. Shirley. August 16, 2017. Variety. en. August 6, 2019. https://web.archive.org/web/20190806172821/https://variety.com/2017/music/news/elvis-presley-blade-runner-hologram-graceland-1202529387/. August 6, 2019. live.
- Web site: Shaq sells rights to future business endeavors. December 17, 2015. ESPN . en. May 28, 2019. https://web.archive.org/web/20190528030304/http://www.espn.com/nba/story/_/id/14389093. May 28, 2019. live.
- Web site: Erving sells majority rights to 'Dr. J' name, image. September 27, 2016. ESPN . en. May 28, 2019. https://web.archive.org/web/20190528030302/http://www.espn.com/nba/story/_/id/17651611. May 28, 2019. live.
- News: Aéropostale Won't Go Out of Business After All . . September 13, 2016 . February 10, 2018 . Wahba, Phil . https://web.archive.org/web/20180211190054/http://fortune.com/2016/09/13/aeropostale-bankrupcty/ . February 11, 2018 . live .
- News: Teen apparel retailer reopens 500-plus stores . Chain Store Age . January 11, 2017 . February 10, 2018 . Wilson, Marianne . https://web.archive.org/web/20180212014946/https://www.chainstoreage.com/article/teen-apparel-retailer-reopens-00-plus-stores/ . February 12, 2018 . dead .
- Web site: Norman has deal with brand licensing firm ABG. March 21, 2017. ESPN . en. May 28, 2019. https://web.archive.org/web/20190528030303/http://www.espn.com/golf/story/_/id/18965709. May 28, 2019. live.
- News: Authentic Brands snaps up Nautica from VF. Howland. Daphne. March 19, 2018. Retail Dive. March 22, 2018. https://web.archive.org/web/20180726044052/https://www.retaildive.com/news/authentic-brands-snaps-up-nautica-from-vf/519416/. July 26, 2018. live.
- News: Authentic Brands beats DSW in auction for Nine West: sources. Reuters. June 10, 2018. September 11, 2018. https://web.archive.org/web/20180911225436/https://www.reuters.com/article/us-ninewest-m-a-authentic-brands/authentic-brands-beats-dsw-in-auction-for-nine-west-sources-idUSKBN1J70D9. September 11, 2018. live.
- News: ABG Completes the Acquisition of Nine West and Bandolino. Authentic Brands Group. July 3, 2018. September 11, 2018. https://web.archive.org/web/20180911225237/https://www.authenticbrandsgroup.com/news/2018/7/9/abg-completes-the-acquisition-of-nine-west-and-bandolino. September 11, 2018. live.
- News: Camuto Group to Be Acquired by ABG, DSW for $375 Million. Young. Vicki M.. October 10, 2018. WWD. October 15, 2018. en-US. https://web.archive.org/web/20181015192358/https://wwd.com/business-news/mergers-acquisitions/camuto-group-to-be-acquired-by-abg-dsw-authentic-brands-group-bernard-josephine-chaus-mergers-acquisitions-retail-1202875026/. October 15, 2018. live.
- News: Sports Illustrated Sold To Authentic Brands Group For $110 Million. Bennett. Anita. May 28, 2019. Deadline Hollywood. en. May 28, 2019. https://web.archive.org/web/20190528014119/https://deadline.com/2019/05/sports-illustrated-sold-to-authentic-brands-group-for-110-million-1202622959/. May 28, 2019. live.
- Web site: Meredith Sells Sports Illustrated to Authentic Brands Group for $110 Million. Steinberg. Brian. May 28, 2019. Variety. en. May 28, 2019. https://web.archive.org/web/20190528135832/https://variety.com/2019/biz/news/sports-illustrated-sale-meredith-authentic-brands-1203226481/. May 28, 2019. live.
- News: Sports Illustrated's media ops are getting a new operator. Kelly. Keith J.. June 17, 2019. New York Post. en. June 18, 2019. https://web.archive.org/web/20190617224533/https://nypost.com/2019/06/17/sports-illustrateds-media-operations-just-got-sold-again/. June 17, 2019. live.
- News: Gottfried . Miriam . Lombardo . Cara . BlackRock Takes Stake in Owner of Sports Illustrated, Nine West . October 1, 2019 . August 11, 2019.
- News: McNary . Dave . Sports Illustrated Studios Launches With 101 Studios for Features, TV Content . May 8, 2020 . Variety . May 5, 2020 . en.
- News: Maheshwari . Sapna . Bankrupt Brooks Brothers Finds a Buyer. . . August 12, 2020 . August 12, 2020 .
- News: June 23, 2021 . . PVH to sell Izod, Van Heusen and other labels to Authentic Brands in $220 million deal . June 23, 2021.
- Web site: Authentic Brands Files for IPO Taking Forever 21 Owner Public . bloomberg.com. July 6, 2021.
- Web site: Authentic Brands Group(AUTH) Files for IPO . mg21.com. July 6, 2021.
- Web site: Thomas . Lauren . Authentic Brands Group shelves IPO, to sell stake in deal that values company at $12.7 billion . CNBC . CNBC . 20 March 2024.
- News: Adidas ends Reebok era with $2.5 bln sale to Authentic Brands . August 12, 2021 . Reuters.
- News: Gottfried . Matt Grossman and Miriam . Authentic Brands Raises $3.5 Billion, Pushes Back IPO . November 22, 2021 . The Wall Street Journal . November 22, 2021.
- Web site: Thomas . Lauren . November 22, 2021 . Authentic Brands Group shelves IPO, to sell stake in deal that values company at $12.7 billion . April 4, 2022 . CNBC . en.
- Web site: LaFrenz . Carrie . April 3, 2023 . Big names back US group buying Billabong and Quiksilver parent . April 4, 2023 . Australian Financial Review . en.
- Web site: Nerkar . Santul . Draper . Kevin . For Sports Illustrated, Report About Fake Authors Is Latest Stumble . The New York Times . 28 November 2023.
- Web site: Darcy . Oliver . Reilly . Liam . Sports Illustrated to avert shutdown as it gets a fresh start under new publisher . CNN . 18 March 2024.
- Web site: Fonrouge . Gabrielle . 2024-01-11 . Wolverine World Wide sells Sperry to Authentic Brands Group in shoe retail deal . 2024-01-11 . CNBC.
- Web site: Conlon . Sean . 2024-06-05 . Hanesbrands to sell Champion brand to Authentic Brands in $1.2 billion deal . 2024-06-05 . CNBC . en.
- Web site: Aéropostale Consortium Finalizes Acquisition . businesswire.com . September 15, 2016 . November 22, 2019 . https://web.archive.org/web/20190804001124/https://www.businesswire.com/news/home/20160915006663/en/A%C3%A9ropostale-Consortium-Finalizes-Acquisition . August 4, 2019 . live .
- Web site: Authentic Brands Group Adds to Portfolio . footwearnews.com . July 30, 2014 . November 22, 2019 . https://web.archive.org/web/20190804001059/https://footwearnews.com/2014/business/retail/authentic-brands-group-adds-to-portfolio-144053/ . August 4, 2019 . live .
- Web site: Authentic Brands Partners With Julius Erving to Own and Manage the Dr. J Brand . Women's World Daily . September 27, 2016 . November 22, 2019 . https://web.archive.org/web/20190804001100/https://wwd.com/fashion-news/fashion-scoops/authentic-brands-partnership-julius-erving-own-and-manage-ip-of-dr-j-brand-10567939/ . August 4, 2019 . live .
- News: US retailer Forever 21 bought back from bankruptcy . BBC News . February 20, 2020 . February 20, 2020.
- Web site: Authentic Brands Group acquires Frederick's of Hollywood . usfashinnetwork.com . November 22, 2019.
- Web site: Authentic Brands Group acquires majority stake in Frye . us.fashionnetwork.com . November 22, 2019.
- Web site: HMX Group, Authentic Brands Deal Done The deal spins off the operating arm to W Diamond Group. . Women's World Daily . December 26, 2012 . November 22, 2019 . https://web.archive.org/web/20190804001059/https://wwd.com/fashion-news/fashion-scoops/hmx-authentic-deal-done-6553330/ . August 4, 2019 . live .
- Web site: Authentic Brands Group acquires Hervé Léger from Marquee Brands . us.fashionnetwork.com . November 22, 2019 . https://web.archive.org/web/20180811185558/http://us.fashionnetwork.com/news/Authentic-Brands-Group-acquires-Herve-Leger-from-Marquee-Brands,883318.html#.XUYaXvJKiUk . August 11, 2018 . live .
- Web site: Authentic Brands Group Acquires Jones New York . apparelnews.net . November 22, 2019 . https://web.archive.org/web/20161012231117/http://www.apparelnews.net/news/2015/apr/23/authentic-brands-group-acquires-jones-new-york/ . October 12, 2016 . live .
- Web site: Authentic Brands Buys Judith Leiber, Taryn Rose, Adrienne Vittadini . November 22, 2019 . Women's World Daily . November 22, 2019 . https://web.archive.org/web/20190903013253/https://wwd.com/business-news/business-features/authentic-brands-buys-judith-leiber-6677860/ . September 3, 2019 . live .
- Web site: Authentic Brands Group acquires Nautica from VF Corporation . ipso.com . November 22, 2019 . https://web.archive.org/web/20190804001109/https://www.ispo.com/en/companies/authentic-brands-acquires-nautica-vf-corporation . August 4, 2019 . live .
- Web site: Authentic Brands Group Acquires Neil Lane Brand . multichannelmerchant.com . August 11, 2017 . November 22, 2019 . https://web.archive.org/web/20190804001111/https://multichannelmerchant.com/news/authentic-brands-group-acquires-neil-land-brand/ . August 4, 2019 . live .
- Web site: Authentic Brands Group Acquires Nine West . sgbonline.com . November 22, 2019 . https://web.archive.org/web/20190804001100/https://sgbonline.com/authentic-brands-group-acquires-nine-west/ . August 4, 2019 . live .
- Web site: Greg Norman signs with brand development and licensing company Authentic Brands Group . ESPN . March 21, 2017 . November 22, 2019 . https://web.archive.org/web/20190804001058/https://www.espn.com/golf/story/_/id/18965709/greg-norman-sells-licensing-rights-global-marketing-company . August 4, 2019 . live .
- Web site: Shaquille O'Neal sells rights to future business endeavors . ESPN . December 17, 2015 . November 22, 2019 . https://web.archive.org/web/20190804001059/https://www.espn.com/nba/story/_/id/14389093/shaquille-oneal-sells-rights-future-business-endeavors . August 4, 2019 . live .
- Web site: Prince Sports to be Sold to Authentic Brands Group in Bankruptcy Proceedings . sgbonline.com . November 22, 2019 . https://web.archive.org/web/20190804001101/https://sgbonline.com/prince-sports-to-be-sold-to-authentic-brands-group-in-bankruptcy-proceedings/ . August 4, 2019 . live .
- Web site: PAuthentic Brands Group Is Acquiring Rockport, Inks Marc Fisher Licensing Deal . Yahoo! Life . August 6, 2023 .
- Web site: Authentic Brands Group acquires TapouT and Silver Star MMA-apparel companies . mmajunkie.usaatoday.com . September 7, 2010 . November 22, 2019 . https://web.archive.org/web/20190804001059/https://mmajunkie.usatoday.com/2010/09/authentic-brands-group-acquires-tapout-and-silver-star-mma-apparel-companies . August 4, 2019 . live .
- Web site: Authentic Brands Acquires Sportcraft Ltd Intellectual Property . sgbonline.com . November 22, 2019 . https://web.archive.org/web/20190804001058/https://sgbonline.com/authentic-brands-acquires-sportcraft-ltd-intellectual-property/ . August 4, 2019 . live .
- Web site: Sports Illustrated Sold To Authentic Brands Group For $110 Million . Deadline.com . May 28, 2019 . November 22, 2019 . https://web.archive.org/web/20191016023113/https://deadline.com/2019/05/sports-illustrated-sold-to-authentic-brands-group-for-110-million-1202622959/ . October 16, 2019 . live .
- Authentic Brands Group, LLC Completes Purchase of Spyder Active Sports, Inc. . PR Newswire . November 22, 2019 . https://web.archive.org/web/20190804002603/https://www.prnewswire.com/news-releases/authentic-brands-group-llc-completes-purchase-of-spyder-active-sports-inc-219918501.html . August 4, 2019 . live .
- Web site: Ted Baker agrees £211m takeover by Reebok owner Authentic Brands . breakingnews.ie . September 16, 2022 . August 18, 2019 .
- Web site: Thalía Teams With Authentic Brands Group for Strategic Partnership . Women's Wear Daily . September 28, 2016 . November 22, 2019 . https://web.archive.org/web/20190804001057/https://wwd.com/business-news/retail/thalia-teams-with-authentic-brands-group-for-strategic-partnership-10566468/ . August 4, 2019 . live .
- Web site: Authentic Brands moves into home market with Heritage Homes buy . retaildive.com . November 22, 2019 . https://web.archive.org/web/20190804001059/https://www.retaildive.com/news/authentic-brands-moves-into-home-market-with-heritage-homes-buy/540248/ . August 4, 2019 . live .
- Web site: Authentic Brands Group continues to grow with its third acquisition of 2015. . campfire-capital.com . June 30, 2015 . November 22, 2019 . https://web.archive.org/web/20190804001058/http://campfire-capital.com/retail-ipo-and-acquisitions/authentic-brands-group-acquires-tretorn/ . August 4, 2019 . live .
- Authentic Brands Group Partners with DSW Inc. to Acquire Camuto Group, Legendary Footwear and Accessories Organization . PR Newswire . November 22, 2019 . https://web.archive.org/web/20190804001058/https://www.prnewswire.com/news-releases/authentic-brands-group-partners-with-dsw-inc-to-acquire-camuto-group-legendary-footwear-and-accessories-organization-300728333.html . August 4, 2019 . live .
- Web site: Authentic Brands Group Is Betting On the Skate Market With Volcom . footwearnews.com . April 2, 2019 . November 22, 2019 . https://web.archive.org/web/20190804001058/https://footwearnews.com/2019/business/mergers-acquisitions/authentic-brands-group-volcom-acquisition-kering-1202767129/ . August 4, 2019 . live .