New York City — Authentic Brands Group (ABG), a global brand owner, marketing and entertainment company, has agreed to purchase the Heritage Brands portfolio from PVH Corp. Through the transaction, ABG will own and manage the intellectual property of Izod, Van Heusen, Arrow and other distinguished brands.
“This acquisition was particularly attractive because of PVH’s well-established partnerships for these heritage brands,” says Jamie Salter, founder, chairman and CEO of ABG. “Each brand has strong consumer recognition, global distribution anchored at leading retailers and robust product programs with best-in-class licensing partners. We believe there are significant opportunities to tap into the brands’ rich histories and to further grow their presence around the world.”
With 60 licensing partners globally, Izod, Van Heusen and Arrow are trusted style authorities known for their premium lifestyle offerings, which include sportswear, dress furnishings, denim, footwear, accessories, fragrance, home and many other categories.
Established in 1938, Izod is credited for bringing golf-inspired style to mainstream audiences with its iconic short-sleeved piqué polo shirt. With a reputation for innovative design spanning 100 years, Van Heusen offers stylish, classic clothing for men. The Arrow brand has substantial licensing, retail and merchandise programs internationally, with operating partners in India, the Middle East, Thailand and Latin America.
As the new owner, ABG will assume all licensing partnerships and marketing initiatives for all the brands. Through a license agreement with ABG, PVH Corp. will continue to operate all of the brands’ dress furnishings businesses in North America. Additionally, Centric Brands has been granted the license for Izod men’s sportswear, and United Legwear & Apparel Company has been granted the licenses for Van Heusen and Arrow men’s sportswear.
The transaction, which is expected to close in the third quarter of this year, is subject to customary closing conditions, including regulatory approval.
Headquartered in New York City, ABG elevates and builds the long term value of more than 30 consumer brands and properties by partnering with best-in-class manufacturers, wholesalers and retailers. Its brands have a global retail footprint across the luxury, specialty, department store, mid-tier, mass and e-commerce channels and in more than 6,000 freestanding stores and shop-in-shops around the world.
ABG’s portfolio of iconic and world-renowned brands includes Greg Norman®, Eddie Bauer®, Nautica®, Forever 21®, Aéropostale®, Juicy Couture®, Lucky Brand®, Nine West®, Jones New York®, Adrienne Vittadini®, Brooks Brothers®, Barneys New York®, and many more.
For more information, visit www.authenticbrands.com.
SOURCE: Authentic Brands Group (ABG)