Nine West Holdings, Inc. (brand portfolio including Nine West, Anne Klein, and Gloria Vanderbilt), announced that Authentic Brands Group, owner of celebrity and entertainment and lifestyle brands was the highest bidder in the bankruptcy auction, with its $340 million winning bid coming in over $140 million more than ABG’s “stalking horse bid.” Reportedly, DSW was also in the running.
Under the agreement, ABG assumes all licensing partnerships and marketing initiatives for the Nine West and Bandolino brands. ABG appointed Marc Fisher Footwear to operate the footwear businesses and Signal Products, Inc. to operate the handbag and SLG businesses.
“This was a highly competitive bidding process, which is a testament to the strength of these brands and we are thrilled that the outcome had ABG taking ownership of Nine West and Bandolino,” said Jamie Salter, Chairman & CEO of ABG. “The addition of these two brands enhances ABG’s growing lifestyle portfolio, while launching our global footwear platform. We see incredible opportunity to expand the brands beyond footwear and handbags, specifically in the apparel and home categories as well as in new markets around the world.”
Marc Fisher, Founder & CEO, Marc Fisher Footwear, noted that his father co-founded Nine West and Bandolino. “I spent much of my footwear career working on these two brands. I am thrilled to have the opportunity to build great product that will resonate strongly with consumers and reinvigorate these brands in the marketplace.”