Simon Property Group, Authentic Brands Group acquire Lucky Brand

Lucky Brand has been bought by Sparc Group, joint partnership of Simon Property Group and Authentic Brands Group. The denim brand had been searching for a buyer since it filed for bankruptcy last month.

Sparc is paying a sum of 140.1 million dollars in cash for Lucky Brand, and will acquire rights to sourcing, product design and development and its e-commerce business. It also plans to negotiate with landlords to keep several key North American Lucky Brand stores open.

This deal comes just a day after Simon Property Group and Authentic Brands Group announced its purchase of Brooks Brothers for 305 million dollars.