The licensing firm that possesses a large number of aging, iconic commercial brands including JCPenney, Forever 21, Sports Illustrated and Marilyn Monroe intends to turn into a publicly traded company.
Bona fide Brands Group — a fast-growing, 11-year-old firm situated in New York whose bargain hungry chief executive Jamie Salter likewise has recently added luxury labels including Barneys and Brooks Brothers — documented a primer outline with the Securities and Exchange Commission.
ABG’s development has taken off over the most recent five years, when it purchased 19 of its 30 brands, as per the documenting. The company said its 30 brands produced $225 million in total compensation in 2020 on incomes of $498 million.
The documenting doesn’t set a contribution price or a valuation for the business. ABG says it intends to sell $100 million worth of stock, a placeholder sum that will change.
A portion of ABG’s brands were purchased out of bankruptcy or on the cusp of financial ruin. Its different properties incorporate Aeropostale, Juicy Couture, Nine West and Eddie Bauer.
“We don’t oversee stores, inventory, or supply chains,” Salter said in the Wednesday documenting. “We don’t fabricate anything. We are a licensing business and are simply centered around brand identity and marketing.”
ABG’s biggest shareholders are BlackRock, Leonard Green and Partners, Lion Capital, Simon Property Group and Salter, whose four sons work for the company.
“I brought my sons into ABG at the ground floor,” Salter writes in investor letter. “There could be no greater inclination as a parent for me than having fabricated ABG with my four young men and having them close by.”
Among the drives ABG is arranging before long is a membership dependability enrollment program across the entirety of its brands, which will “give another common income stream, and gives us direct admittance to customer data to enhance our sales and marketing system,” as per the recording.
It’s anything but’s an arrangement to band together with licensees to dispatch Sports Illustrated betting and ticket sales, to “monetize” SI’s customers in the fast-growing games wagering industry, as indicated by the documenting.