Authentic Brands Group, a global brand owner and marketing and entertainment company, and SPARC Group, a leading retail enterprise, have announced they have been approved by the U.S. Bankruptcy Court as the buyers of Lucky Brand.
The Lucky Brand ownership group will work with various landlords to maintain key stores across North America. There will also be an emphasis on driving distribution across e-commerce, marketplaces, department stores, specialty and freestanding locations in North America and international territories including Latin America, Europe and Asia.
“We are pleased to welcome this iconic heritage denim brand to ABG,” says Jamie Salter, founder, chairman and chief executive officer, Authentic Brands Group. “This acquisition will boost the value of our portfolio to more than $13 billion in global retail sales annually. Lucky Brand’s DNA resonates strongly with today’s youth, and we see tremendous opportunity to unlock its value in key territories around the world. With ABG’s social media expertise and content development capabilities, we are ready to hit the ground running and expand quickly into new categories and markets.”
SPARC, which is partially owned by ABG, is the dedicated operating company for Aéropostale and Nautica. Through this new acquisition, SPARC will assume the role of core licensee and operating partner for Lucky Brand and will oversee all sourcing, product design and development, wholesale, operations of the brand’s North American retail stores and its growing e-commerce business. ABG will own the Lucky Brand intellectual property and oversee all licensing partnerships, new business and brand development. Brand marketing, which will be heavily focused on digital activations, social media and emerging platforms, will be shared by SPARC and ABG.
“Building on the foundation we’ve created with Aéropostale and Nautica, we are excited to partner with ABG to expand and enhance SPARC through Lucky Brand,” says Marc Miller, chief executive officer, SPARC Group. “This acquisition will diversify our growing brand platform, which includes approximately 750 SPARC-owned and operated locations in the U.S., plus e-commerce and wholesale that collectively drive over $2 billion in retail sales annually.”
Lucky Brand offers a selection of denim in a wide variety of fits, washes and styles, as well as apparel, outerwear, accessories and a home collection for men, women and children. The brand has more than 175 locations and an e-commerce business across North America and is available in select department stores, independent boutiques and on LuckyBrand.com.