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Authentic Brands Group Withdraws IPO Plans

Authentic Brands Group files for IPO taking Forever 21 owner public. Shutterstock.
Forever 21 owner Authentic Brands Group withdraws its IPO plans. Shutterstock.

Apparel chain operator Authentic Brands Group Inc on Wednesday withdrew its plans for an initial public offering in the United States, according to its filing with the securities regulator.

The company did not give a reason for shelving its listing. But in November, the owner of the Forever 21 brand agreed to sell a stake to private equity firms CVC Capital Partners and HPS Investment Partners in a deal that valued it at $12.7 billion including debt.

Authentic Brands owns over 30 brands including, Aeropostale, Van Heusen and Bandolino with a retail portfolio which spans the luxury, specialty, department store, mid-tier, mass and e-commerce channels.

Earlier this week, the company bought a majority stake in former soccer player David Beckham’s brand-management company, DB Ventures LLC, according to media reports.

Last July, Authentic Brands had filed to go public, intending to list on the New York Stock Exchange, revealing a strong jump in earnings in 2020.

By Manya Saini; Editing by Shailesh Kuber

Learn more:

Authentic Brands Group Files for US IPO

Authentic Brands Group Inc. filed for a US initial public offering following a year that saw the parent of Aéropostale and Sports Illustrated magazine post strong earnings growth.

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