Authentic Brands Group LLC won the auction on Sunday for the intellectual property of bankrupt U.S. shoe and accessories company Nine West Holdings Inc with a revised bid of about $350 million, Reuters reported. Authentic Brands, a brand development and marketing company, was bidding against shoe retailer DSW Inc. for the well-known Nine West brand, found in department stores. Authentic Brands had submitted an initial offer for the Nine West and Bandolino brands of $200 million, according to court papers. The proceeds from the sale will go toward paying down some of Nine West’s approximately $1.5 billion in debt.
