Tag:
Authentic Brands Group
Hartford, CT
Business
Levi's Sells Dockers For $311M+ To Brand Giant Behind Forever 21, Reebok
Levi Strauss & Co. is selling its Dockers brand to Authentic Brands Group for at least $311 million. The agreement was announced on Tuesday, May 20. The deal could reach up to $391 million based on Dockers' future growth under Authentic, whose portfolio also includes Forever 21's intellectual property, Nautica, and Reebok. The sale is expected to close by Thursday, July 31, in North America and by the end of January 2026 for global operations. "Dockers is a natural fit for the Authentic model," said Authentic's founder and CEO Jamie Salter. "It's a brand with deep roots, high…
Hartford, CT
Business
Forever 21 Collapses: Bankruptcy Forces US Stores To Shut Down, Reports Say
Forever 21 is going out of business in the US after struggling against online rivals Shein and Temu, according to reports. Forever 21 filed for bankruptcy protection for the second time in six years and has already started liquidation sales at more than 350 stores, CNBC reported. Its US operations are expected to shut down entirely unless a buyer steps in. Sparc Group, Forever 21's operator, had been searching for a buyer for months and contacted more than 200 potential bidders. Court filings show that 30 parties signed confidentiality agreements, but no viable deal materialized. Talks wit…
Harrison, NY
Business
Luxury Retailer Barneys Sets Closing Date For Its Stores
Barneys New York luxury goods stores and its corporate office will officially be closed later this month, costing hundreds of jobs after the company went bankrupt. The once iconic luxury retailer will shutter the doors of 15 stores across the country as of Sunday, Feb. 23, with 719 employees losing their jobs, according to the New York State Department of Labor. According to reports, any employee at the 97-year-old chain who has worked for the company at least two years received five-weeks severance, though workers did not receive accrued vacation time. The closures come after Barneys file…
Mount Pleasant, NY
Business
Retailer Nine West Files For Bankruptcy
Women's clothing and footwear company Nine West announced on Friday that it has filed for bankruptcy, listing debts of more than $1 billion. The company, which owns brands such as Gloria Vanderbilt and Anne Klein, also announced it will sell its Nine West and Bandolino footwear and handbag business to Authentic Brands Group. "This is the right step to address our two divergent business profiles," Ralph Schipani, Nine West Holdings' chief executive officer, said in a statement. "We will retain our strong, profitable and growing apparel, jewelry, and jeanswear businesses and co…
