Authentic Brands Group, the retail conglomerate behind some of your favorite brands, is preparing for an initial public offering with a target valuation of about $10 billion, according to CNBC.
The company — which reportedly offered $1 billion for Reebok on May 13 — could go public as soon as July.
If able to reach its target valuation once a public offering is finalized, Authentic Brands would surpass Under Armour, Kohl’s, Ralph Lauren, and Dick’s Sporting Goods in market value.
In 2019, Authentic Brands had a valuation of around $4.5 billion following an $875 million investment for a 30% stake from BlackRock, a leading investment manager with $8.68 trillion in assets under management as of Dec. 2020.
With $10 billion in retail sales annually from its 30 brands across 5,950 brick-and-mortar stores, the best is likely still to come for Authentic Brands and its growing portfolio.
- Purchased Prince Sports in 2012 after the racket maker filed for bankruptcy protection.
- Acquired Sports Illustrated for $110 million in 2019 from Meredith as part of the purchase of Time Inc.
- Purchased Barneys New York in 2019 after the luxury department store brand went bankrupt.
- Became co-owner of retailer Forever 21 in 2020 after it filed for bankruptcy, with plans to expand globally.
The company’s roster also features NBA legends.