Aero OpCo LLC just announced its new partnership with the brand Nautica. As the operating partner for Aéropostale, the company just confirmed that Authentic Brands Group, LLC (ABG) has signed an agreement to purchase the Nautica brand from VF Corporation.
Currently, Aero OpCo manages operations for the Aéropostale brand. Currently, Aéropostale is a multichannel retailer with more than 500 locations in the U.S. and also has a steadily growing online business. Now combining efforts with Nautica, Aero OpCo will be in charge of operations for over 580 retail locations. The company will also control a wholesale business with thousands of points of sale in the country as well as both ecommerce websites. According to a press release by the company, the operation is expected to generate revenues in excess of 1.2 billion dollars in North America.
"Building on our success with Aéropostale, we are excited to be partnering with ABG to maximize the potential of the Nautica business," Marc Miller, chief executive officer of Aero OpCo, said in a press statement. " 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."
The transaction is set to close in the first half of 2018. Once the deal has gone through customary closing conditions and regulatory approvals, both brands will be operating under Aero OpCo.