THE WHAT? Authentic Brands Group, parent company of Forever 21, Juicy Couture and Brooks Brothers, is reportedly planning a public listing this year, according to a report by Bloomberg.
THE DETAILS The IPO, which values the firm at $10 billion, is said to be being handled by Bank of America, J.P. Morgan and Goldman Sachs.
According to WWD.com, by filing confidentially the company can iron out the finer details with the Securities and Exchange Commission, with the official registration slated to be made public in July.
THE WHY? Filing the IPO would make Authentic Brands Group a huge player in Wall Street, with the valuation topping that of Under Armour, Ralph Lauren, Kohl’s Corp and Capri Holdings.
The company has gone from strength to strength thanks to Founder, Chairman and CEO Jamie Salter’s tactic of buying up ailing brands and bringing them back to life.