VF Corporation sells Nautica to Authentic Brands Group

02 May '18

1 min read

Courtesy: Nautica

VF Corporation, a global leader in branded lifestyle apparel, footwear and accessories, has announced that it has completed the sale of its Nautica brand, a leading global lifestyle brand for modern nautical style to Authentic Brands Group (ABG). VF had entered into a definitive agreement with ABG in March. Terms of the agreement have not been disclosed.

Welcoming Nautica to the ABG portfolio, Jamie Salter, chairman and chief executive officer of ABG said, “We are ready to take the helm of this classic American brand.” ABG is committed to transforming brands by delivering compelling product, content, business, and immersive brand experiences. ABG manages, elevates, and builds the long-term value of more than 31 consumer brands by partnering with best-in-class manufacturers, wholesalers, and retailers

"The Nautica brand is an iconic, globally recognised brand, and ABG is the ideal owner to guide its next phase of growth and success," VF’s chairman, president, and chief executive officer Steve Rendle said. (RR)

Fibre2Fashion News Desk – India

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