TThe Authentic Brands Group (ABG) has acquired the lifestyle brand Nautica. ABG acquires Nautica from VF Corporation, which still includes The North Face or Timberland and Vans. Nautica is now the group's largest brand, including Spyder. ABG's portfolio increases globally to almost 7 billion dollars in annual sales.
Nautica's wholesale business, over 70 US retail stores, e-commerce and product development will be transferred to the operating company of Aeropostale, which is also part of the ABG Group. It now works for both the clothing brand and Nautica. Aeropostale and Nautica together generate annual sales of approximately 2.4 billion dollars worldwide.
"Nautica comes at an important time in ABG’s development as we are placing a significant emphasis on international business,” said Jamie Salter, chairman and CEO of ABG.
Above all, it is intended to make Authentic Brands more international: “This acquisition brings us that much closer to our goal of achieving a retail sales split of 50 percent international and 50 percent domestic and reaching 10 billion dollars in annual retail sales by 2020.”