Authentic Brands Group (ABG), owner of Juicy Couture and Jones New York, has secured a “strategic investment” from a private equity firm to that will allow it to add new brands and categories, and broaden its global footprint with a key focus on the Chinese market.
Details of the invesement by General Atlantic were not disclosed, but it joins existing investors Leonard Green & Partners and Lion Capital.
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ABG has experienced significant growth since it was founded in 2010. Its portfolio of over 29 brands – such as Aéropostale, Neil Lane, Frye, Spyder, and most recently, Herve Leger – generates over US$5bn in annual retail sales.
“Our partnership with General Atlantic marks an important next phase of growth for ABG,” says Jamie Salter, founder, chairman, and CEO of ABG. “General Atlantic’s extensive operational experience across the retail sector combined with the breadth of its global network will provide us with even greater opportunities to scale our business and to broaden our portfolio around the world.”
ABG is a brand development and licensing company based out of New York. Last year, the company partnered with two of the world’s largest retail real estate companies, General Growth Properties and Simon Property Group, to acquire speciality retailer Aéropostale to “re-energise” the brand for long-term performance and growth.
“There is significant potential for growth in the brand licensing industry as the traditional retail model is disrupted and consumers increasingly interact directly with brands,” adds Andrew Crawford, global head of retail and consumer at General Atlantic.
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By GlobalData“We believe ABG is well-positioned to expand and add to its impressive portfolio of brands as Jamie and his team have not only an exciting vision for the future of the company, but also best-in-class execution.”
In its next phase of growth, ABG says it will accelerate its efforts to add to its portfolio of brands, expand into new categories, innovate across digital platforms, and broaden its global footprint with a key focus on the Chinese market.
General Atlantic partners with entrepreneurs and management teams who are building leading, high-growth businesses. The firm has $21bn in assets under management, with a focus on investments across five sectors: internet & technology, financial services, business services, retail & consumer, and healthcare.
