The owner of Tommy Hilfiger and Calvin Klein is focusing on its flagship labels and has sold its heritage brands for $220 million, in a deal that has made Authentic Brands (ABG) a specialist in formal American menswear.
The Denver, Colorado-based owner of brands including Vans, The North Face and Timberland announced on Thursday that it has appointed company veteran Matt Puckett as executive vice president and chief financial officer.
Having recently emerged from bankruptcy, the American brand licensing company has announced the appointment of Marc Schneider, the former CEO of Kenneth Cole Productions, as chairman of its board of directors.
Brooks Brothers has said that Authentic Brands Group and malls giant Simon Property Group have it in their sights with a $300m+ bid and plans to save “at least” 125 stores. But other bids could still derail the plan.
The company, known for outfitting rock stars like Iggy Pop, Velvet Revolver and Bruce Springsteen, made the filing with plans to sell to an affiliate of Lion Capital LLC, the majority owner of John Varvatos.