Rockport filed for bankruptcy under Chapter 11 in the District of Delaware last month, for the second time in five years, the first dating back to May 2018.
Its owners said the filing would allow it to review and restructure its assets for the benefit of all stakeholders and to better position the brand for future growth opportunities.
Authentic’s purchase, approved by the US Bankruptcy Court for the District of Delaware expands its “diverse footwear portfolio”, it says, with a “trusted brand”.
Rockport is known for its incorporation of athletic soles into dress shoes. With this strategic acquisition, Authentic aims to leverage its expertise in brand development and strategic partnerships to drive growth and unlock the full potential of the Rockport brand.
Jamie Salter, founder, chairman, and CEO of Authentic, expressed confidence in the potential of the Rockport brand under Authentic’s stewardship and said: “Rockport’s core consumer is more active than ever. The brand’s offering is a perfect addition to our portfolio with opportunities for category expansion into apparel, accessories, outerwear, travel and more.
“There is a significant addressable market, presenting opportunities for the brand to evolve into a full lifestyle offering with a focus on innovation and comfort.”
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As part of the acquisition, Authentic has also signed a long-term licensing agreement with Marc Fisher Footwear, a leading full-service fashion footwear company. Marc Fisher Footwear, which already collaborates with Authentic for other brands, will become the core footwear partner for Rockport in the US. The company will oversee footwear design, wholesale, and e-commerce operations for the brand in the territory.
Marc Fisher, CEO of Marc Fisher Footwear, expressed enthusiasm about the partnership and the growth prospects for Rockport and added: “Rockport’s strong connection to its core consumer presents compelling growth opportunities within the men’s footwear market and, we look forward to continuing to build upon its foundation with Authentic.”
Rockport products are currently available in various retail channels across more than 60 countries worldwide. With the support of Authentic and its extensive network of partners, the brand aims to announce additional collaborations in the coming months and expand its reach into new categories and territories.
The Rockport acquisition follows Authentic’s recent purchase of British brand Hunter boots in June and earlier in the year it partnered with fashion company Vince Holdings Corp to acquire its intellectual property.