Authentic Brands Group LLC, the owner of brands such as Brooks Brothers, Juicy Couture and Forever 21, is exploring going public as soon as this year, Bloomberg News reported. The New York-based company has held discussions with potential advisers about an initial public offering. The company could seek a valuation of about $10 billion when it goes public. Its plans aren’t final, and the size and valuation of the deal could still change. The company was valued at more than $4 billion, including debt, in an $875 million investment by BlackRock Inc. in 2019. Founded and run by Jamie Salter, Authentic Brands acquired more than 30 brands over the years, including bankrupt Barneys New York. Salter started Authentic in 2010 with $250 million, scooping up niche and celebrity brands, including licenses for Elvis Presley and Marilyn Monroe. By the time the pandemic hit, the company had almost $15 billion in revenue and owned well-known names including Sports Illustrated and Nine West. In an interview in August, Salter said he won’t look at deals under $1 billion these days. For years, Salter eschewed operating retailers, opting to buy only the intellectual property of bankrupt merchants. That changed in 2016, when Salter teamed up with the two largest U.S. mall landlords to buy bankrupt fashion retailer Aeropostale. With a raft of retail bankruptcies, that led to other transactions, including the purchase of bankrupt Forever 21 last year.
