Authentic Brands Group LLC finalized the purchase of assets within Collective Licensing International LLC, Lifestyle Brands Corporation and Collective Brands Cooperatief U.A.
The purchase from Payless Holdings LLC includes athletic and youth brands, such as Airwalk, Hind, Visions Street Wear and Above the Rim.
“Airwalk has built a loyal following through shaping and influencing the progression of the action sports community and industry,” said Jamie Salter, chairman and CEO of Authentic Brands Group. “Airwalk’s history is filled with stories about people pushing innovation, supporting the athletic scene and taking creative risks, all fueled by a passion for athletes and action sports. This is exactly the kind of attitude and passion that makes Airwalk a great fit for the ABG portfolio.”
Under the agreement, Payless holds the right to sell Airwalk products in its company-owned stores.
“Airwalk is a very popular and successful brand at Payless around the
world,” said W. Paul Jones, CEO of Payless. “We are excited to continue to offer one of the most authentic youth lifestyle brands in the marketplace to our Payless customers.”
For Vision Street Wear, Hind and Above the Rim, the brands will continue to work with existing licensees. Authentic Brands Group will focus on international expansion for the labels.