Date: 23 June 2021 (due to complete in third quarter of 2021, subject to regulatory approval)
Buyer: Authentic Brands Group
Target: IZOD, Van Heusen, ARROW and Geoffrey Beene brands (part of the Heritage Brands group portfolio)
Business: The intellectual property and other assets of PVH Corp.’s Heritage Brands business
Value: $220 million
Details: Authentic Brands Group (a brand development, marketing and entertainment company, which owns a portfolio of global media, entertainment and lifestyle brands) has entered into a definitive agreement with PVH Corp. to acquire certain intellectual property and other assets of PVH Corp.’s Heritage Brands business. The transaction includes the Izod, Van Heusen, Geoffrey Beene and Arrow brand trademarks. The Authentic Brands Group intends to leverage its global partner network and brand development expertise to continue creating a sustainable licensing business for the brands. The deal is expected to close in the third quarter of 2021 and is subject to customary closing conditions, including regulatory approval. Centric Brands and United Legwear & Apparel Company have been granted licenses to operate parts of the IZOD, Van Heusen and ARROW sportswear businesses.