US apparel giant VF Corp has completed the sale of its Nautica brand business to Authentic Brands Group (ABG), owner of Juicy Couture and Jones New York.

The news comes after an announcement last month in which VF said it had entered into a definitive agreement with ABG regarding the sale. Terms of the sale were not disclosed.

Speaking at the time, VF CEO Steve Rendle said actively managing the firm's brand portfolio to accelerate growth is its highest priority.

"The Nautica brand is an iconic, globally recognised brand, and Authentic Brands Group is the ideal owner to guide its next phase of growth and success," he added.

The sale follows an initial announcement by Rendle during VF's fourth-quarter earnings call with analysts in which he said he was eager for the brand to move into its next phase of growth and success.

ABG recently announced it has appointed Aero OpCo LLC, the operating partner for Aéropostale, as the core licensee and operating partner for Nautica.

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.