06 Jul ABG Completes Acquisition Of Nine West And Bandolino
Authentic Brands Group LLC (ABG) completed the acquisition of Nine West and Bandolino from Nine West Holdings Inc. Through this purchase, ABG increases the company’s footwear and accessories business to over $2 billion in global retail sales, further establishing the company’s position as a leader in the fashion footwear space and bringing the company’s brand portfolio to nearly $8 billion in global retail sales.
As reported, ABG acquired Nine West Holdings in a bankruptcy auction. ABG’s winning bid is valued at over $340 million of cash and other considerations. This winning bid is over $140 million more than ABG’s stalking horse bid.
“From the moment ABG won the bid for Nine West and Bandolino we received an outpouring of interest from retailers, distributors and new licensing partners,” said Jamie Salter, chairman and CEO of ABG. “Now that the acquisition has been formalized, we are kicking the brands’ growth strategies into high gear.”
As part of this acquisition, ABG assumes all licensing partnerships and marketing activities for the Nine West and Bandolino brands. With respect to the brands’ footwear and handbag categories, ABG has appointed Marc Fisher Footwear (“MFF”) to operate the footwear businesses and Signal Products, Inc. (“Signal”) to operate the handbag and SLG businesses.
ABG’s initial focus for Nine West and Bandolino will be on developing near-term and long-term strategies that reinforce the brands’ fashion positioning in key markets around the world. Leveraging its in-house marketing expertise, ABG will enhance the brands’ relevance through refreshed creative, engaging digital campaigns and key influencer partnerships. ABG will build upon the strength of Nine West and Bandolino to accelerate the ongoing brand expansion into new territories and categories including sportswear, outerwear, swimwear, intimates, fragrance, sleepwear and home.
ABG’s global portfolio of iconic and world-renowned brands includes Marilyn Monroe, Elvis Presley, Muhammad Ali, Shaquille O’Neal, Dr. J, Greg Norman, Neil Lane, Thalia, Michael Jackson (managed brand), Nautica, Aéropostale, Juicy Couture, Jones New York, Herve Leger, Judith Leiber, Frederick’s of Hollywood, Frye, Adrienne Vittadini, Taryn Rose, Misook, Hickey Freeman, Hart Schaffner Marx, Spyder, Tretorn, Tapout, Prince, Airwalk, Vision Street Wear, Above The Rim and Hind.