Authentic Brands takes 51 percent stake in legacy brand Frye

Authentic Brands Group (ABG) has gone shopping again, taking a 51 percent stake in Frye, one of the oldest footwear brands in the U.S.

Commenting the deal, Jamie Salter, chairman and CEO of ABG , highlighted that “Frye is an American legacy brand which has been synonymous with quality and style for more than a century.” In regards to the new joint venture, Salter added that “Global Brands is an incredible business partner and we are thrilled to form a partnership with them on such an esteemed brand.”

ABG buys majority stake in heritage brand Frye

ABG will share the brand’s ownership with its partners at Global Brands Group Holding Limited, from whom it acquired the stake. It’s worth highlighting that this is the first time ABG and Global Brands, who have had a long history of collaboration, co-own a brand.

The deal is meant to expand Frye’s footprint, entering new categories and growing the brand’s global retail presence through new freestanding stores and shop-in-shop locations. Currently, Frye operates 13 stores across the United States, with three new locations scheduled to open in July. Besides, Frye sells through speciality stores and department stores.

Following the deal, Global Brands will continue to operate and manage Frye’s existing retail and wholesale businesses.

Key product categories that compliment Frye’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.

ABG’s global portfolio of brands includes Greg Norman, Aéropostale –their latest acquisition-, Juicy Couture, Jones New York, Judith Leiber, Frederick’s of Hollywood, Frye and Hart Schaffner Marx.

Photo:Frye Boots, Spring 2017, Frye Web