Authentic Brands Group buys Nautica business
Authentic Brands Group has bought the Nautica business from VF Corporation.
The new owner, which lists Marilyn Monroe, Elvis Presley, Muhammad Ali, Greg Norman, Aeropostale, Juicy Couture and Frederick’s of Hollywood among an extensive portfolio, will take over the sports-inspired brand in the first half of this year. Terms of the deal have not been disclosed.
VF chairman, president and CEO Steve Rendle said the company’s global business strategy is to actively manage its brand portfolio to ensure its composition allows strong growth.
“This announcement marks yet another example of how we’re delivering on our commitment. We are pleased to have reached this agreement with Authentic Brands Group. The Nautica brand is an iconic, globally recognised brand, and Authentic Brands Group is the ideal owner to guide its next phase of growth and success.”
Nautica, an American brand, has a strong nautical heritage, particularly associated with yachting. Besides producing clothing for men, women and children, it sells fragrances, watches and accessories.
VF Corporation still owns the Vans, The North Face, Timberland, Wrangler and Lee brands.