Outdoor brands seem to be one segment retail groups are having an eye on! In fact, the global outdoor apparel market size is, reportedly, expected to grow at CAGR of over 5 per cent to US $ 3.9 billion during the forecast period 2021-2024.
Notably, the year-over-year growth rate for 2021 is estimated at 4.52 per cent by the end of 2024.
After lot of speculation, American brand management firm Authentic Brands Group (ABG) together with SPARC Group, has now bought the US outdoor brand Eddie Bauer.
SPARC Group is a joint venture between ABG and Simon Property Group.
The transaction would mean that all core operations at Eddie Bauer will now be a part of SPARC. Besides, Eddie Bauer, in partnership with SPARC, will manage brand’s sourcing, product design and development, wholesale and planning.
Additionally, together it will manage e-commerce and the 300 physical stores in the US and Canada.
ABG has said that it will also own Eddie Bauer’s intellectual property.
The deal couldn’t have happened at a better time for ABG and SPARC as the market for the outdoor brand has been growing at a faster pace worldwide.
A delighted Jamie Salter, Founder, Chairman and CEO, ABG, said that the Group was elated to welcome an iconic brand like Eddie Bauer into its portfolio.
The terms of the deal, however, haven’t been disclosed.
Authentic Brands has had a great last few years as far as acquisition is concerned. Last year it bought the reputed Lucky Brand, Brooks Brothers and Forever 21. It also owns athletic apparel and equipment brands such as Airwalk, Prince Sports, Tapout and Volcom.
Also Read: Authentic Brands eyeing possible IPO in 2021