Frederick’s of Hollywood Lives on: ABG Spends $22.5 Million for Brand

In What's New, Industry News by Accessories Staff

fredericskNew York—Sexy is back. Authentic Brands Group LLC, which already owns an array of brands from Elvis Presley to Jones New York, today announced the purchase of the iconic lingerie brand, Frederick’s Of Hollywood. The acquisition further increases the value of the ABG portfolio to nearly $5 billion in global retail sales.

A bankruptcy court judge in Delaware approved the $22.5 million sale earlier this month.

In a statement, Authentic Brands said the deal increases its portfolio to nearly $5 billion in retail sales.

“Frederick’s of Hollywood supports our strategic focus of diversifying the portfolio and strengthens ABG’s position in the intimates apparel category,” said Jamie Salter, chairman/ceo ABG. “Born during the 1940’s pinup era, Frederick’s is a legendary women’s brand that we are excited to welcome to the ABG brand family.

ABG’s strategic focus for Frederick’s of Hollywood will be to launch a new brand vision, expand product categories and drive distribution across department stores and specialty retailers in key markets including North America, Europe, Asia, South America and Latin America. The product design aesthetic will be led by intimate apparel, which will set the tone for other tent pole categories, including beauty, fragrance and personal care.

In other recent news, ABG announces a strategic partner to implement the new brand vision and operate fredericks.com, the brand’s existing global e-commerce platform.  The partnership includes key categories such as intimates, shapewear, loungewear, sleepwear, swimwear, and accessories.

“Lingerie is Frederick’s heritage and this is a brand that continues to be inspired by Hollywood glamour,” said Nick Woodhouse, President & CMO, ABG.  “There is a tremendous amount of brand equity that we will leverage globally via key partnerships, dynamic marketing, and innovative product design.”

Item of the Day: Erica Weiner
Sneakers Lead in Children’s Footwear Online Sales, NPD Reports