Authentic Brands Group owned fashion brand Forever 21 has signed a licensing deal with AR Holdings, a leading brand and retail operator, to expand operations into the Latin American market.
As per the deal, AR Holdings will distribute the brand across all channels in the region including e-commerce, wholesale and 26 retail stores in Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, El Salvador, Guatemala, Panama and Peru. The company is an experienced player in the Latin American retail market with vast expertise in the fashion, home and restaurant industries. It plans is to launch an e-commerce site for Forever 21 in Latin America in 2021.
ABG purchased Forever 21 out of bankruptcy court in partnership with Simon Property Group and Brookfield Property Partners for $81.1 million in February. In June, it tapped IB Group to serve as licensee for the brand. In June, it licensed IB Group to expand the brand in Mexico.