The US-based brand development and licensing company, Authentic Brands Group (ABG) has acquired Nine West and Bandolino from Nine West Holdings Inc. to take its global footwear and accessories business past US $ 2 billion in international retail sales.
Reportedly, ABG bought Nine West Holdings in an insolvency auction. The winning bid is valued at more than US $ 340 million of cash and other considerations.
Jamie Salter, Chairman and CEO, ABG revealed that from the moment the company won the bid, it got a significant amount of interest from sellers, suppliers, and new partners. “With all the acquisition formalities completed, we are aiming to work in top gear for the brand’s overall growth,” he said.
Furthermore, the company will initially focus on developing close and long-term tactics for both the brands, which would strengthen their fashion positioning in key markets across the world.
The new owner of the American fashion and retail company will strive to thrive on its in-house marketing expertise; it will boost the brands’ image with fresh, innovative, and engaging digital campaigns combined with important collaborations.
Additionally, ABG will build upon the strength of both the companies to fasten the on-going brand expansion into new regions and segments such as; activewear, outerwear, swimwear, intimates, fragrance, and sleepwear.
Notably, AGB’s portfolio includes world famous labels such as; Nautica, Aéropostale, Spyder, Tretorn, Tapout, Marilyn Monroe, Elvis Presley, Muhammad Ali, Shaquille O’Neal etc.
