Tuesday, November 29, 2022
HomeeCommerce NewsAuthentic Brands Group forms partnership with David Beckham

Authentic Brands Group forms partnership with David Beckham

The Authentic Brands Group now co-owns the David Beckham global brand. The retail and entertainment conglomerate paid $269 million for the deal. Also, it now owns a 55% stake in the venture.

Beckham will also become a shareholder in the Authentic Brands Group. Beckham owns Forever 21 and Barneys New York. He also has the rights to iconic stars. Elvis Presley and Shaquille O’ Neal are the major investors.

This deal will help Authentic Brands Group open its European headquarters. It will take place in the Beckham existing London offices. The company is also the largest shareholder of Studio 99. It is the production company co-founded by Beckham in 2019.

The CEO of Authentic Brands gave the statement, “David and his team have built an enterprise that spans sports, entertainment, lifestyle and luxury, and we see significant opportunities to scale his brand and expand it into new verticals.”

DB Venture deals with the endorsements with companies from Tudor Watches and Haig. The Authentic Brands went public in November. The decision was after the 25% selling of stake. The private equity firms CVC Capital Partners and hedge fund took the deal. The deal was worth $12.7 billion.

The company is also going to get Reebok from Adidas. The expected worth of the deal is about $2.5 billion. The deal will take place in the first quarter of the current year.

The acquisition of the David Beckham venture is the starting for the Authentic Brand. Beckham taking the big decision was to increase the exploration. He wants to take the brand to the next level with Authentic Brand. The collab will help scale the DB. They are going to feature home furnishing and footwear. These are some of the expected expansions.

David Beckham believes in involving in the long-term relationship with Authentic Brand. The collaboration going to be fruitful, and we expect high customer acquisition.

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