Brand management firm Authentic Brands Group has acquired the Hervé Léger brand from another brand management firm, Marquee Brands.
Terms of the transaction were not disclosed. The brand is best known for its form-fitting bandage dresses. It was founded in 1985 by designer Hervé L. Leroux, who passed away earlier this month.
Marquee acquired the brand when it purchased the BCBG Max Azria intellectual property assets from bankruptcy earlier this year. BCBG in 1998 acquired the majority stake in Hervé Léger that was owned by a subsidiary of the Canadian firm Seagram for an undisclosed amount. Seagram became Leroux’s financial partner shortly after he launched the brand. About a year after BCBG acquired its stake in the brand, Leroux was dismissed.
ABG could not be reached for comment and it wasn’t immediately clear what it’s plans are for the brand. ABG was one of the firms that took a look at BCBG when it was in bankruptcy proceedings and had contemplated buying the assets.
Some of the women’s fashion and accessories brands in ABG’s portfolio include: Juicy Couture; Marilyn Monroe; Judith Leiber; Neil Lane; Thalia; Misook; Adrienne Vittadini; Taryn Rose; Frederick’s of Hollywood and Jones New York. Other brands in ABG’s portfolio include: Hart Schaffner Marx; Hickey Freeman; Spyder; Tapout; Prince; Tretorn; Muhammad Ali; Frye; Greg Norman; Aéropostale; Shaquille O’Neal; Dr. J and Elvis Presley. ABG also manages the Michael Jackson brand.