Fashion brand operator, Authentic Brands, has secured a US$500 million primary follow-on investment from its current investor General Atlantic to fuel the group’s strategic expansion.
The latest investment will bring General Atlantic’s invested capital in Authentic Brands to nearly $2 billion since the partnership started in October 2017. Since then, Authentic has acquired nearly 30 brands and diversified its platform through new verticals, including media, outdoor, events and experiences, and most recently, studios.
“General Atlantic’s increased investment in Authentic is a testament to the strength of our proprietary brand platform, business model and team,” said Jamie Salter, founder, chairman and CEO of Authentic.
Authentic Brands has a portfolio of more than 40 brands – including Aeropostale, Brooks Brothers, Forever 21, Nine West, Nautica and Reebok – generating more than $25 billion in global retail sales annually. The company has a presence in 150 countries, including more than 10,800 freestanding stores and shop-in-shops and 380,000 points of sale.
The US-headquartered company recently acquired the intellectual property of British outdoor lifestyle brand Hunter, as well as signed a definitive agreement to purchase active lifestyle company Boardriders.
Last year, the company partnered with David Beckham to co-own and manage his global brand; completed its largest acquisition to date with sports culture brand Reebok; and finalised the acquisition of British lifestyle brand Ted Baker.
“Over the past six years of our work together, Authentic has significantly accelerated its growth by capitalising on meaningful M&A opportunities, expanding into key markets and building a deeply experienced management team,” said Andrew Crawford, MD and global head of consumer at General Atlantic.
