• Facebook - Portuguese Shoes
Portugueses Shoes TV

ABG cancels its IPO application


The retail conglomerate has officially withdrawn the registration that it had made with the US Securities & Exchange Commission for an initial public offering on the 6th of July 2021

ABG had already signalized in November that it was postponing the IPO until 2023 or 2024. Instead, it sold major equity stakes in its business to CVC Capital and HPS Investment Partners, which gave the group a valuation of 12.7 billion US dollars.

At the time, the ABG founder, chairman and CEO Jamie Salter declared to WWD that the company would adjourn its IPO as a result of recent investments still in line with ABG’s growth strategy to bring value to its shareholders.

Founded by Jamie Salter in 2010, the American group, specialized in developing brands through marketing and licensing agreements with industrial and distribution partners, has become a key player in the fashion industry over the past years. The acquisition of Reebok from adidas, to be closed in the first quarter of 2022, will bring ABG’s portfolio to more than 20 billion US dollars in annual system-wide retail sales.


Image Credits: csga.ca

 
 
Breaking News
New qualifications for designers of sustainable footwear New qualifications for designers of sustainable footwear
Strong third quarter for Caleres Strong third quarter for Caleres
China: luxury online sales slowdown China: luxury online sales slowdown
Shoe Carnival announces third quarter results Shoe Carnival announces third quarter results
Gucci's Creative Director Alessandro Michele steps down Gucci's Creative Director Alessandro Michele steps down
Ecco Leather teams up with mycelium technology company Ecovative Ecco Leather teams up with mycelium technology company Ecovative
Ildemar Marchi de Almeida: sustainability is at the DNA of JBS Couros Ildemar Marchi de Almeida: sustainability is at the DNA of JBS Couros
AAFA applauds House for passing Inform Consumers Act AAFA applauds House for passing Inform Consumers Act
Tod's posts sales increase Tod's posts sales increase
Foot Locker raises guidance Foot Locker raises guidance
Terms and Conditions       Disclaimer