Brand management company teams with Global Brands Group to expand the legacy brand worldwide.
Authentic Brands Group has acquired a 51 percent majority stake in the American heritage brand Frye from Global Brands Group.
Under the terms of the acquisition, both companies will focus on expanding Frye into new categories and growing the brand’s worldwide retail presence through standalone stores and shop-in-shops. Developed under GBG, key product categories that will be created include apparel, footwear, belts, bags, cold weather accessories, hosiery, underwear, costume jewelry and soft home goods.
Furthermore, GBG will continue to operate and manage the brand’s existing retail and wholesale businesses. The acquisition also marks the first time ABG and GBG have co-owned a brand.
“Fry is an American legacy brand which has been synonymous with quality and style for more than a century,” says Jamie Salter, chairman and chief executive officer, ABG. “Global Brands is an incredible business partner and we are thrilled to form a partnership with hem on such an esteemed brand.”
Frye is currently available in a host of specialty and department stores, including Nordstrom, Dillard’s and Bloomingdales, and operates 13 retail locations throughout the U.S., with three more slated to open this July. The brand also offers its full collection online via TheFryeCompany.com.
“Fry is an exceptional brand with a tremendous American heritage,” says Jason Rabin, president, North America, GBG. “We are excited to enter into this new partnership with ABG to help drive Frye’s global growth and the ongoing evolution of the brand.”