VF Corp.'s Nautica brand is set to join the portfolio of brands owned by Authentic Brands Group, a brand management company, market sources said Sunday.Terms of the deal could not be learned, but sources said an agreement was signed over the weekend and they believed an announcement could be made on Monday. The deal is expected to close in the second quarter.VF said last month it was in talks to sell Nautica as part of the apparel giant's routine overhaul of its brand portfolio. WWD first reported on ABG's interest in Nautica in late February.Executives at neither VF Corp. nor ABG could not be reached for comment.As a brand management firm, ABG owns the intellectual property assets and focuses on the marketing and licensing components of the business. When it acquired the Aéropostale assets out of bankruptcy in 2016, ABG partnered with two real estate investment trusts, Simon Property Group and General Growth Properties. While ABG took over ownership of the Aéropostale IP, the trio formed Aero OpCo, which became the operating partner for Aéropostale. Aero OpCo runs the Aéropostale stores — more than 500 Aéropostale stores and more than 10,000 employees — and manages the brand's wholesale division. Sources said that with Aero OpCo in place, the likelihood is that it will also take over the operation of Nautica's stores, which total about 73 retail sites in the U.S.ABG counts private equity firms General Atlantic and Leonard Green & Partners as majority investors. It also has as minority investor Lion Capital. ABG has a goal of reaching $10 billion in global retail sales by 2020 for all brands managed under its portfolio. Nautica is believed to be ABG's biggest brand acquisition to date.
Exclusive: @longchamp is planning to stage its first official runway show at New York Fashion Week this fall. The French leather goods firm has expanded into ready-to-wear as part of its repositioning as a lifestyle brand. The show, scheduled for September 8, will also cap the brand’s 70th anniversary celebration. Get all the details on WWD.com. #wwdnews #wwdfashion (📷: @dominiquemaitre)
The Duke and Duchess of Sussex undertook their first overseas engagement as a married couple in Dublin. The trip included multiple events and outfits changes, including this black dress by @emiliawickstead that Meghan Markle wore for a party at the British Ambassador’s home. #wwdfashion #royals
At 20 years old – and with an estimated net worth of $900 million - @kyliejenner is the youngest person to ever make @forbes’ annual list of America’s Richest #SelfMadeWomen. “It’s incredible to be recognized for something I’m so passionate about, and I’m really grateful for that. I’ve always loved makeup and worked really hard to bring the first lip kit to the market,” said Jenner on founding @kyliecosmetics. See who else is on the list on WWD.com. #wwdnews #wwdbeauty (📷: @rainerhosch)
“The collection is inspired by Tulum and the Mayan Riviera – its laid-back luxury, life of cabanas, untouched coastline, natural habitats, exotic cocktails and jungle parties with renowned DJs,” said Matteo Maniatty, creative director and cofounder of @descendantofthieves, on the brand’s inspiration for its latest collection. See more designer sketches and inspirations on WWD.com. #wwdfashion #nyfwmens #nyfw
@riccardotisci17 is releasing a limited-edition capsule collection as part of his anticipated runway debut for @burberry in September. Delivered in a series of instant drops, this is the second Burberry capsule collection announced since Friday, when Tisci broke the news on his collaboration with @viviennewestwood. Get all the details on WWD.com. #wwdfashion #wwdnews
“It’s like a Cinderella story. You get a little fake, you get a little real, you put it together and voilà,” said legendary rapper Slick Rick, who helped pioneer the merge of luxury and streetwear. WWD’s @ariahughes spoke to @therulernyc about his jewelry collection, his collaboration with @bally and how the industry has evolved – link in bio. (📷: @kristaschlueter)
@ragandbone and @eminem are teaming up on a special capsule collection of streetwear pieces. Sold at a one-day pop-up in London’s Soho on Friday, the collection features three different T-shirt designs and a hoodie. The capsule is set to kick off the rest of Eminem’s shows in his European Revival Tour, which ends on Sunday. Get all the details on WWD.com. #wwdfashion