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Authentic Brands Group Acquires Collective Licensing from Payless [Professional Services Close - Up](Professional Services Close - Up Via Acquire Media NewsEdge) Authentic Brands Group (ABG) and Payless Holdings reported that ABG has finalized the purchase of certain assets of Collective Licensing International, Lifestyle Brands Corp., and Collective Brands Cooperatief U.A. (collectively CLI). According to a media release, the asset purchase includes several youth lifestyle, athletic, and board-sports inspired brands, including Airwalk, Hind, Vision Street Wear, and Above The Rim. "Airwalk has built a loyal following through shaping and influencing the progression of the action sports community and industry," said Jamie Salter, Chairman and Chief Executive Officer of Authentic Brands Group. "Airwalk's history is filled with stories about people pushing innovation, supporting the athletic scene, and taking creative risks, all fueled by a passion for athletes and action sports - this is exactly the kind of attitude and passion that makes Airwalk a great fit for the ABG portfolio." Airwalk has developed into a "globally recognized" brand responsible for the design of performance and lifestyle footwear, apparel and accessories sold in 100 countries around the globe. As part of the agreement, Payless said it will retain the right to market and sell Airwalk-branded products in its company-owned and franchise stores, and through ecommerce. "Airwalk is a very popular and successful brand at Payless around the world," said W. Paul Jones, Chief Executive Officer of Payless Holdings. "We are excited to continue to offer one of the most authentic youth lifestyle brands in the marketplace to our Payless customers." "The Airwalk, Vision, Hind and Above The Rim brands each resonate with the younger customer who is searching for authentic ties to sports culture," said Nick Woodhouse, President and Chief Marketing Officer of Authentic Brands Group. "We are convinced that there is an incredible opportunity to grow each of these brands and re- connect consumers with them in a powerful way." Authentic Brands Group, in partnership with Leonard Green & Partners, is an intellectual property corporation with a mandate to acquire, manage and build long-term value in prominent consumer brands. Payless ShoeSource is a specialty family footwear retailer. More information and complete details: www.abg-nyc.com www.abg-nyc.com ((Comments on this story may be sent to [email protected])) (c) 2014 ProQuest Information and Learning Company; All Rights Reserved. |