ABG and SPARC Group to Acquire the Venerable Brooks Brothers Brand
The Strategic Partnership Will Uphold the Legacy of the Esteemed American Fashion Institution
Authentic Brands Group LLC (ABG), a global brand owner, marketing and entertainment company, and SPARC Group, LLC (SPARC), a leading retail enterprise, today announced that they have been approved by the U.S. Bankruptcy Court as the buyers of the Brooks Brothers brand. ABG will own the brand’s intellectual property and SPARC will own the operation. In addition to Brooks Brothers, SPARC’s operating platform will now include Lucky Brand, Nautica and Aéropostale. The owners of SPARC also own 75% of Forever 21 and a major stake in Volcom. The brands collectively generate nearly $7 billion in systemwide retail sales annually.
“We’re thrilled to emerge as the confirmed buyers of Brooks Brothers,” said Jamie Salter, Founder, Chairman, and CEO of ABG. “Brooks Brothers has incredible history and staying power with several generations of faithful customers. Together with SPARC, we will build upon the brand’s legacy and look at expanding its product offerings and audiences through a global network of retail stores and prestigious partners.”
Since its founding over two centuries ago, Brooks Brothers has become a legendary global lifestyle brand, known for shaping American style through fashion innovation, fine quality and fit, exceptional service and value. With 500 retail stores in 45 countries worldwide, Brooks Brothers continues to be the ultimate destination for fresh and modern interpretations of classic style.
Through this acquisition, SPARC, the dedicated operating company for lifestyle brands including Aéropostale, Nautica and Lucky Brand, will assume the role of core licensee and manage the Brooks Brothers operations, which include sourcing, product design and development, wholesale, e-commerce and oversight of its branded retail stores in the U.S.
“We are pleased to be part of the new ownership group that has preserved this iconic American brand,” said Marc Miller, CEO of SPARC Group. “This acquisition supports our strategic focus of diversifying the SPARC retail platform and enhances our capabilities in premium product design and manufacturing.”
Brooks Brothers’ new ownership group is working with various landlords to continue store operations across North America, Central and South America, Mexico, Europe, the Middle East, China and Japan, while converting the brand’s international owned store operations to a licensed partnership model.
ABG will work with its current and new partners to strategically expand Brooks Brothers’ product offerings and footprint across key international territories. Leveraging its marketing expertise, ABG will adapt the Brooks Brothers brand for the next generation of consumers while retaining its devoted audience through a strategy that focuses on introducing enhanced creative, engaging and growing its following online, and launching collaborations that interpret the brand’s DNA for new audiences.
