Authentic Brands Group received an initial investment of $500 million from the joint stock company General Atlantic.
A group that currently owns more than 40 brands, including Brooks Brothers, Nautica, and Reebok, intends to spend the funds received on the implementation of solutions to expand the scope of activities at the global level. The relevant information is contained in the press release of Authentic Brands.
Jamie Salter, Chairman of the Management Board and CEO of Authentic, says that the increase in the volume of investments is evidence of the strength of the corporate platform, the effectiveness of the business strategy, and the ability of the team to achieve results. He also stated that General Atlantic adheres to an innovative approach in financing the activities of other companies. Separately, Jamie Salter stressed that the investor shares the idea of creating brand value in the long term.
Authentic ensure the interconnection of firms with partners, distributors, operators, and retailers. The brands with which this commercial group cooperates have a combined annual sales volume of $ 25 billion and are present in the markets of 150 countries.
The company strengthened its position in the luxury market in April. Then there was a deal to buy Vince Holding, a luxury brand from California. The firms entered into an agreement under which Authentic received the right to manage Vince’s business.
Also in April, the company made an offer to purchase the Boardriders brand for outdoor activities and lifestyle, which provides an opportunity to add sports firms Quiksilver, Billabong, Roxy DC Shores, RVCA, Element, VonZipper, and Honolua to the portfolio.
This year and last, Authentic exchanged a stake in its company for sportswear retailer Eddie Bauer, became the owner of the British fashion retailer Ted Baker and acquired a controlling stake in the brand management company DB Ventures, founded by David Beckham.
Andrew Crawford, Managing Director and Global Head of Consumer Relations at General Atlantic says there are opportunities for further diversification by category, licensing partners, regions, and distribution channels.
As we have reported earlier, Inflection AI Raises $1.3 Billion.
Serhii Mikhailov
Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.
