New York-based leading marketing company Authentic Brands Group (ABG), announced the acquisition of America’s original fast fashion retailer, Forever 21. ABG and Simon Property Group will each own 37.5%, and Brookfield Property Partners will own 25% of operating businesses of Forever 21. After this deal ABG, Simon, and Brookfield become the new ownership group for Forever 21.
Los Angeles based Forever 21 is a global fashion retailer of women’s, men’s, and kid’s clothing, accessories, and footwear, as well as beauty brands. The brand, was established more than three decades ago, is known for offering a broad selection of on-trend and fashion-forward merchandise at a compelling value.
In November 2019, Authentic Brands Group had announced the completion of acquisitions of Barneys New York. The acquisition of Barneys enhances ABG’s luxury footprint and makes its foray into experiential luxury and entertainment.
In the previous month (October 2019), ABG has announced the opening of its Mexico headquarters, in the prestigious Colonia Polanco neighborhood of Mexico City, ABG’s new outpost is dedicated to generating growth opportunities for its portfolio across Mexico, Central and South America.
About Authentic Brands Group
Authentic Brands Group (ABG), headquartered in New York City, the USA, is a leading brand development, marketing, and entertainment company. The company owns a portfolio of global media, entertainment, and lifestyle brands. ABG has more than 50 consumer brands and properties by partnering with best-in-class manufacturers, wholesalers, and retailers. The company’s brand has a global retail footprint in more than 100,000 points of sale across the luxury, specialty, department store, mid-tier, mass, and e-commerce channels, and approximately 5,000 freestanding stores & shops across the globe.