The firm that owns and licenses a slew of iconic commercial brands including JCPenney, Forever 21, Sports Illustrated and Marilyn Monroe plans to become a publicly traded company.
Authentic Brands Group — a NY based firm led by executive Jamie Salter includes other luxury labels shops including Barneys and Brooks Brothers — filed a preliminary prospectus with the Securities and Exchange Commission earlier this week.
ABG’s growth has soared in the last five years, when it bought 19 of its 30 brands, according to the filing. The company said its 30 brands generated $225 million in net income in 2020 on revenues of $498 million.
The filing does not set an offering price or a valuation for the business. ABG says it plans to sell $100 million worth of stock, a placeholder amount that will change.
“We don’t manage stores, inventory, or supply chains,” Salter said in the Wednesday filing. “We don’t manufacture anything. We are a licensing business and are purely focused on brand identity and marketing.”
ABG’s largest shareholders are BlackRock, Leonard Green and Partners, Lion Capital, Simon Property Group and Salter, whose four sons work for the company.