NEW YORK — March 20th, 2018 — Aero OpCo LLC, the operating partner for Aéropostale®, today announced that Authentic Brands Group, LLC (ABG) which has signed a definitive agreement to purchase the Nautica® brand from VF Corporation, has appointed the company as the core licensee and operating partner for Nautica.
“Building on our success with Aéropostale, we are excited to be partnering with ABG to maximize the potential of the Nautica business,” said Marc Miller, CEO of Aero OpCo. “Nautica is an iconic American lifestyle brand, with significant global presence and customer reach. This partnership marks the next phase in Aero OpCo’s growth as it will leverage the company’s product development, sourcing, retail and ecommerce expertise, while further strengthening our capabilities in multichannel distribution. We look forward to integrating Nautica into our operations.”
Aero OpCo currently manages operations for the Aéropostale brand, a profitable multichannel retailer with over 500 locations in the U.S., as well as a growing ecommerce business. Combined with the Nautica business, Aero OpCo will operate over 580 retail locations, a strong wholesale business with thousands of points of sale in the U.S., and the ecommerce platforms for both brands. The full operation is expected to generate revenues in excess of $1.2 billion in North America.
“Aero OpCo has been an incredible partner to ABG for Aéropostale,” said Jamie Salter, Chairman & CEO of ABG. “We are looking forward to working with them to continue the success of this respected brand.”
The transaction, which is expected to close in the first half of 2018, is subject to standard customary closing conditions and regulatory approvals.
Posted March 20, 2018
Source: Aero OpCo LLC