General Atlantic has bought a stake in Authentic Brands Group, just days after the fashion company acquired Herve Leger.
General Atlantic joins Leonard Green & Partners and Lion Capital on the shareholder ledger.
Seven-year old Authentic Brands Group’s portfolio generates over US$5 billion in annual retail sales and boasts more than 29 brands that span the luxury, specialty, and mid-tier retail channels. That portfolio is crosses over the lifestyle, sports, celebrity and entertainment sectors and includes labels such as Marilyn Monroe, Elvis Presley, Shaquille O’Neal, Juicy Couture, Aéropostale, Jones New York, Neil Lane, Frye, Spyder, Prince, and now Herve Leger.
“Our partnership with General Atlantic marks an important next phase of growth for ABG,” said 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.”
With fresh capital in the bank, Authentic Brands Group says it will now accelerate its efforts to add to its brand portfolio, expand into new categories, innovate across digital platforms and broaden its global footprint with a key focus on the China market.
Meanwhile, Herve Leger is Authentic Brands group’s second acquisition this year – it recently acquired a majority share of American heritage brand Frye, which it now co-owns the label with Hong Kong-based Global Brands Group.