Authentic Brands Group | 10/30/17
Private equity firm General Atlantic has made a “strategic investment” in Authentic Brands Group, helping ABG focus on bigger brands.
General Atlantic joins existing investors Leonard Green & Partners and Lion Capital. Jamie Salter, ABG’s founder, chairman and chief executive officer, said General Atlantic’s investment “will provide us with even greater opportunities to scale our business and broaden our portfolio around the world.”
Andrew Crawford, global head of retail and consumer at General Atlantic, cited the disruption of the traditional retail model as a key factor for the partnership with ABG. “ABG has significant potential for growth in the brand licensing category… as consumers are interacting directly with brands, ” said Crawford.
That growth will include investments in new categories and breaking into international markets. General Atlantic’s deep ties in China, Latin America and Europe, will allow ABG to chase bigger brands and expand them far beyond the U.S.
Read the full article at WWD.com.
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