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Thursday, 03 June 2021 13:44

Authentic Brands Group, Shein launch new IPOs

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More than 150 initial public offerings have priced so far this year with Brooks Brothers’ parent company Authentic Brands Group (ABG) and luxury fashion and China’s fast fashion e-tailer being the latest to launch their IPOs.

As per Sourcing Journal, ABG has acquired many bankrupt retailers including Barneys New York, Brooks Brothers and Lucky Brand. Rescued from a trio of Chapter 11 petitions, the labels join a stable of household-name brands including Aéropostale, Jones New York, Nine West, Vince Camuto, Juicy Couture and Nautica, in addition to Hart Schaffner Marx, Herve Leger, Hickey Freeman, Thomasville and Sports Illustrated. The company aims to grow to $25 billion in coming years. It plans to launch an IPO worth $10 billion later this year.

Chinese fast fashion e-tailer Shein is also eyeing the public markets. The e-tailer is looking at the US equity market for a listing. Founded in October 2008, the company targets the European, American, Australian and Middle Eastern markets, and relies heavily on a community of micro-influencers to reach trend-conscious consumers through social platforms. In January, Shein was an early frontrunner for bankrupt Arcadia’s Topshop and Topman brands, said to offer about $409.7 million after Next plc backed out. Asos eventually acquired the pair’s brand assets and inventory for $363.2 million, casting its cost-intensive stores by the wayside.