Confirming rumors that have circulated in the past few weeks, the rapidly expanding Authentic Brands Group (ABG) has filed for an initial public offering. It said it seeks to raise $100 million through an IPO on the New York Stock Exchange, but it did not indicate yet the timing, how many shares it wants to sell or their target price.
The company said that its revenues went up by 32 percent to $160 million in the first quarter of this year. It also said that it made net income of $225 million in 2020 on revenues of $489 million. ABG gets most of its revenues from licenses. Founded by Jamie Salter in 2010, it has put together a portfolio of more than 30 retail, apparel, celebrity and sports brands that generate an annual retail turnover of more than $14 billion. Its sports brands include Muhammad Ali, Shaquille O’Neal, Sports Illustrated, Dr. J, Greg Norman, Spyder, Tretorn, Tapout, Prince, Volcom, Airwalk and Vision Street Wear. ABG recently took over Eddie Bauer and Izod.
More on SGI Europe.
