Authentic Brands Group Files For IPO

Sports Illustrated parent Authentic Brands Group filed for an IPO Tuesday that could value the company at $10 billion.

The listing size is recorded as $100 million, though the amount is likely to change, per Bloomberg. Most of the money will go toward paying down debt, according to the filing, as Authentic Brands has spent roughly $2.6 billion in acquisitions since its inception in 2010.

With a portfolio of more than 30 brands, ABG brings in around $14 billion in retail sales annually.

• Last month, the retail conglomerate purchased PVH Corp.’s Heritage Brand business for $220 million, moving Izod, Van Heusen, Arrow, and Geoffrey Beene to ABG.
• In May, ABG bought outdoor gear and apparel retailer Eddie Bauer.
• ABG also owns Forever 21, Barneys New York, and Brooks Brothers.

ABG purchased Sports Illustrated from Meredith for $110 million in 2019 after SI recorded millions in ad revenue losses. The publication signed 15 licensing deals in the year following the acquisition, doubling its EBITDA.

The name, image, and likeness rights of Muhammad Ali, Shaquille O’Neal, and Julius Erving are part of ABG’s portfolio, as well.

The company’s net income jumped from $72.5 million in 2019 to $211 million in 2020, with revenue hitting $488.9 million.