Thursday December 7, 2023

Authentic Brands Preparing for $10 Billion IPO

  • Authentic Brands Group is preparing for an IPO.
  • The company has a target valuation of $10 billion.
Sports Illustrated/Design: Alex Brooks
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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.

Shaquille O’Neal sold the rights to his future endeavors to Authentic Brands in 2015, while Julius Irving sold the rights to his name and image to the company in 2016.

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