Authentic Brands Group said yesterday that it’s received bankruptcy court approval to buy footwear brand Rockport, which filed for chapter 11 in June, RetailDive.com reported. The financial terms of the deal were not disclosed. Authentic Brands said the deal expands the company’s “diverse footwear portfolio with a trusted brand.” Authentic Brands Group also announced yesterday that it has signed a long-term licensing agreement with Marc Fisher Footwear to oversee design, wholesale and e-commerce for Rockport in the U.S. The company already works with other shoe and apparel brands in the Authentic Brands portfolio, including Nine West, Hunter Boots and Bandolino. Rockport “is a perfect addition to our portfolio with opportunities for category expansion into apparel, accessories, outerwear, travel and more,” Authentic Brands Group CEO Jamie Salter said in a statement. Rockport filed for chapter 11 for the second time in five years last month. At that time, the company said it had “an inadequate liquidity cushion to survive further economic challenges.”
