Airwalk | 07/30/14

Payless ShoeSource floats an Airwalk sale


Dealmaker Jamie Salter has scooped up yet another athletic brand.

Salter’s firm Authentic Brands Group — whose fast-growing portfolio of properties includes Marilyn Monroe, Juicy Couture and Hickey Freeman — has acquired sneaker brand Airwalk from Payless ShoeSource.

The deal also includes lifestyle and board-sports labels Hind, Vision Street Wear, and Above The Rim, together accounting for upwards of $600 million in sales, according to people briefed on the businesses.

As part of the agreement, Payless will keep the right to market and sell Airwalk-branded products in its company-owned and franchise stores and online. Payless ShoeSource floats an Airwalk sale