Authentic Brands Group (ABG) announced Wednesday that it finalized its acquisition of four youth lifestyle, athletic, and skate-inspired footwear brands from Payless Holdings. The purchased brands–Airwalk, Hind, Vision Street Wear and Above The Rim–are assets of Collective Licensing International LLC, Lifestyle Brands Corporation, and Collective Brands Cooperatief U.A. (collectively CLI).
Under the agreement, Payless will retain the right to sell and market Airwalk footwear in its stores and online. Each brand will continue to work with its current licensees to expand its presence and product offering in the U.S., while ABG plans to grow each brand internationally.
Nick Woodhouse, president and chief marketing officer of ABG, said, “The Airwalk, Vision, Hind and Above The Rim brands each resonate with the younger customer who is searching for authentic ties to sports culture.” He added, “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.”
New York City-based ABG owns several other brands including, Judith Leiber, Hickey Freeman, Spyder, and its most recent investment, Juicy Couture.