Aeropostale-owner Authentic Brands withdraws IPO plans, Retail News, ET Retail

Aeropostale-owner Authentic Brands withdraws IPO plansClothing chain operator Authentic Makes Team Inc on Wednesday withdrew its plans for an first public presenting in the United States, according to its submitting with the securities regulator.

The business did not give a cause for shelving its listing. But in November, the operator of the Forever 21 brand name agreed to sell a stake to private equity firms CVC Funds Partners and HPS Investment Associates in a offer that valued it at $12.7 billion like debt.

Reliable Brand names owns in excess of 30 brands which includes, Aeropostale, Van Heusen, and Bandolino with a retail portfolio which spans the luxurious, specialty, department retail store, mid-tier, mass and e-commerce channels.

Previously this 7 days, the business acquired a greater part stake in former soccer participant David Beckham’s brand name-management enterprise, DB Ventures LLC, according to media reports.

Previous July, Reliable Brand names had submitted to go general public, intending to list on the New York Inventory Trade, revealing a strong bounce in earnings in 2020.