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Footwear, accessories and clothing brand, Nine West, is reported to have sold its shoe and handbags businesses to U.S. based Authentic Brands Group.
Nine West and Bandolino brands, which filed voluntary petitions for reorganisation under Chapter 11 of the U.S. Bankruptcy Code in early April 2018, is reported to have been acquired by the Authentic Brands Group for US$340 million. With the acquisition, Authentic Brands expands its footwear and accessories business to over US$2 billion in global retail sales, reaching a total portfolio worth nearly US$8 billion.
Nine West Holdings is a footwear, accessories, women's apparel, and jeanswear Company, whose brands portfolio includes Nine West, Anne Klein, and Gloria Vanderbilt. It is a wholesale partner to major U.S. retailers and has international licensing arrangements covering more than 1,200 points of sale around the world.
Recent acquisitions by American brand development Company, Authentic Brands, include Nautica Brand from VF Corp, owner of Timberland. Read more here.
Source: Insider Retail