ABG to Acquire Heritage Brands Portfolio from PVH Corp.
The Storied Izod, Van Heusen and Arrow Brands to Join ABG’s Fashion Roster
Authentic Brands Group (ABG), a global brand owner, marketing and entertainment company, today announced a definitive agreement to purchase the Heritage Brands portfolio from PVH Corp. Through the transaction, ABG will own and manage the intellectual property of Izod, Van Heusen, Arrow and other distinguished brands, which further enhances the company’s Lifestyle and Fashion portfolios.
“This acquisition was particularly attractive because of PVH’s well-established partnerships for these heritage brands,” said Jamie Salter, Founder, Chairman and CEO of ABG. “Each brand has strong consumer recognition, global distribution anchored at leading retailers and robust product programs with best-in-class licensing partners. We believe there are significant opportunities to tap into the brands’ rich histories and to further grow their presence around the world.”
With 60 licensing partners globally, Izod, Van Heusen and Arrow are trusted style authorities known for their premium lifestyle offerings, which include sportswear, dress furnishings, denim, footwear, accessories, fragrance, home and many other categories. Each brand infuses its unique DNA and legacy of elegance into products that represent best-in-class quality and style offered at an exceptional value.
Established in 1938, Izod is credited for bringing golf-inspired style to mainstream audiences with its iconic short-sleeved piqué polo shirt. Today the brand continues with seasonal offerings complete with bold and comfortable sportswear and performance golf wear. With a reputation for innovative design spanning 100 years, Van Heusen meets the ever-evolving needs of the modern consumer with original, stylish classics including dress shirts, sportswear, pants and tailored clothing for men. The Arrow brand has substantial licensing, retail and merchandise programs internationally, with operating partners in India, the Middle East, Thailand and Latin America.
As the new owner, ABG will assume all licensing partnerships and marketing initiatives for all the brands. Through a license agreement with ABG, PVH Corp. will continue to operate all of the brands’ dress furnishings businesses in North America. Additionally, Centric Brands has been granted the license for Izod men’s sportswear and United Legwear & Apparel Company has been granted the licenses for Van Heusen and Arrow men’s sportswear.
The transaction, which is expected to close in the third quarter of this year, is subject to customary closing conditions, including regulatory approval.