Authentic Brands Group, better known as ABG, is all set to purchase a majority stake in David Beckham’s brand management firm DB Ventures.
If reports are to believed, ABG will buy a 55 per cent stake in the firm for US $ 269 million or £200 million.
ABG, however, hasn’t made any official comment on the same.
Here it is important to mention that DB Ventures manages many of David Beckham’s endorsements that also include the one with sportswear giant adidas.
ABG, which owns Forever 21 and Juicy Couture amongst other brands, had bought Reebok from adidas last year.
Also Read: German sportswear giant adidas sells Reebok to Authentic Group for US $ 2.5 billion
New York-based ABG was founded in 2010. In 2019, it also acquired sports magazine Sports Illustrated from Meredith Corporation for US $ 110 million.
