Authentic Brands Group (ABG), owner of Juicy Couture and Jones New York, has appointed Aero OpCo LLC, the operating partner for Aéropostale, as the core licensee and operating partner for Nautica.
VF Corp announced on Monday (19 March) it has entered into a definitive agreement to sell the Nautica brand business to ABG.
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Aero OpCo currently manages operations for the Aéropostale brand, which was bought by a consortium of retail operators led by ABG in September 2016, in a deal understood to have been valued at around US$243.3m.
Combined with the Nautica business, Aero OpCo will operate over 580 retail locations, a strong wholesale business with thousands of points of sale in the US, and the e-commerce platforms for both brands. The full operation is expected to generate revenues in excess of $1.2bn in North America.
“Aero OpCo has been an incredible partner to ABG for Aéropostale,” says Jamie Salter, CEO of ABG. “We are looking forward to working with them to continue the success of this respected brand.”
Marc Miller, CEO of Aero OpCo, adds: “This partnership marks the next phase in Aero OpCo’s growth as it will leverage the company’s product development, sourcing, retail and ecommerce expertise, while further strengthening our capabilities in multichannel distribution. We look forward to integrating Nautica into our operations.”
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By GlobalDataThe transaction, which is expected to close in the first half of 2018, is subject to standard customary closing conditions and regulatory approvals.
