Aéropostale Consortium Finalizes Acquisition
September 15 2016 - 7:12PM
Business Wire
~ABG, GGP and Simon Create an Innovative
Partnership to Acquire Aéropostale and Position the Brand for Long
Term Growth ~
Authentic Brands Group (ABG), General Growth Properties (GGP)
and Simon Property Group (SPG) finalizes the acquisition of the
global trend-focused apparel and accessories brand, Aéropostale.
The consortium includes ABG, the owner of a global portfolio of
fashion, sports and entertainment brands, GGP and SPG, two of the
largest retail real estate companies in the world.
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Aéropostale offers young women, men and kids a focused selection
of active-oriented fashion and fashion basic merchandise at
compelling values. The brand will continue to be available in over
700 retail doors around the world; more than 400 stores in the U.S.
and Canada and approximately 300 doors across Latin America,
Europe, the Middle East and Southeast Asia.
Through ABG’s proven know-how in brand building and licensing,
combined with the expertise of retail real estate specialists, GGP
and SPG, there is now a strong foundation in place for long term
performance and growth.
"We are pleased to be part of this consortium that has saved
thousands of jobs and preserved a legendary American brand," said
David Simon, Chairman and CEO, Simon Property Group. "We are
encouraged by the tremendous amount of support we have received
from employees, vendors and other landlords."
“This consortium brings a new approach to brand development and
Aéropostale brings another facet to ABG’s fashion portfolio,” said
Jamie Salter, Chairman and CEO, ABG. “The purchase of Aéropostale
propels the retail revenue driven by ABG’s brands to over $4.5
billion USD in retail sales worldwide. We look forward to working
closely with our new partners, General Growth Properties and Simon
Property Group to continue to grow the Aéropostale brand on a
global scale.”
“Aéropostale has significant brand equity and the go-forward
portfolio of stores generates more than $1 billion in global retail
sales, over $800 million of which is from the U.S.,” said Sandeep
Mathrani, CEO, GGP. “The entity is financially secure and well
capitalized and we are very pleased that thousands of jobs will be
preserved.”
About Authentic Brands Group, LLC
Authentic Brands Group is a brand development company, which
builds long-term value through the ownership of intellectual
property associated with prominent fashion, sports, celebrity and
entertainment brands. Headquartered in New York City, ABG builds
brand equity by partnering with best-in-class licensees and
retailers. ABG’s global portfolio of world-renowned brands includes
Marilyn Monroe®, Mini Marilyn®, Elvis Presley®, Muhammad Ali®,
Shaquille O’Neal®, Michael Jackson® *managed brand*, Juicy
Couture®, Aéropostale®, Jones New York®, Judith Leiber®,
Frederick’s of Hollywood®, Adrienne Vittadini®, Taryn Rose®,
Misook®, Hickey Freeman®, Hart Schaffner Marx®, Bobby Jones®,
Spyder®, Tretorn®, Tapout®, Prince®, Airwalk®, Vision Street Wear®,
and Hind®. www.abg-nyc.com
About General Growth Properties, Inc.
General Growth Properties, Inc. is an S&P 500 company
focused exclusively on owning, managing, leasing, and redeveloping
high-quality retail properties throughout the United States. GGP is
headquartered in Chicago, Illinois, and publicly traded on the NYSE
under the symbol GGP.
About Simon Property Group
Simon is a global leader in retail real estate ownership,
management and development and an S&P100 company (Simon
Property Group, NYSE:SPG). Our industry-leading retail properties
and investments across North America, Europe and Asia provide
shopping experiences for millions of consumers every day and
generate billions in annual retail sales. For more information,
visit simon.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20160915006663/en/
Authentic Brands GroupHaley SteinbergPR and Communications(646)
612-7439hsteinberg@abg-nyc.comorGeneral Growth PropertiesKevin
BerrySVP Investor & Public Relations(312)
960-5529kevin.berry@ggp.comorSimon Property GroupTom WardSVP
Investor Relations(317) 685-7330tom.ward@simon.com
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