- Kristopher Fraser |
Authentic Brands Group, LLC has announced the acquisition of a 51 percent stake in Frye from Global Brands Group Holding Limited. This is the first time ABG and Global Brands will co-own a brand. The two companies have had a long history of collaborating on the development of fashion lifestyle categories and retail strategies for ABG-owned brands including Juicy Couture, Jones New York and Spyder. This acquisition, along with the purchase of the Greg Norman brand earlier this year, propels ABG’s portfolio to over 5 billion dollars in global retail sales.
Frye has been in business since 1863 with their handcrafted, artisan boots. Their current retail partners include Bloomingdale's, Nordstrom and Dillard's, and they also operate thirteen freestanding stores throughout the U.S.
ABG acquires 51 percent stake in Frye
“Frye is an American legacy brand which has been synonymous with quality and style for more than a century,” said Jamie Salter, chairman and CEO of ABG. “Global Brands is an incredible business partner and we are thrilled to form a partnership with them on such an esteemed brand.
ABG and Global Brands will focus on extending Frye into new categories and growing the brand’s global retail presence through new standalone stores and shop-in-shop locations. Key product categories that compliment the brand’s core product lines will be developed under Global Brands including apparel, footwear, belts, bags, cold weather accessories, hosiery, underwear, costume jewelry and soft home goods. Three new Frye stores are slated to open in the U.S. this July. Global Brands will continue to operate and manage the brand’s existing retail and wholesale businesses.
“Frye is an exceptional brand with a tremendous American heritage,” said Jason Rabin, president of North America, Global Brands Group Holding Limited. “We are excited to enter into this new partnership with ABG to help drive Frye’s global growth and the ongoing evolution of the brand.”photo:via Frye's Facebook Page