Authentic Brands Group comes to the rescue of Rockport
Authentic Brands Group (ABG), the company behind Ted Baker and Quicksilver, has successfully rescued the innovative footwear brand Rockport from bankruptcy.
The United States Bankruptcy Court for the District of Delaware has given its approval for the sale transaction of Rockport, a pioneering comfort-first footwear company known for integrating athletic soles into dress shoes.
With the addition of Rockport, Authentic is further diversifying its already impressive footwear portfolio. The company aims to use its brand development skills and strategic partnerships to propel Rockport to new levels of success, maximizing its opportunities for growth.
Jamie Salter, Founder, Chairman, and CEO of Authentic, expressed his enthusiasm for the acquisition, stating, “Rockport’s core consumer is more active than ever. The brand’s offering is a perfect addition to our portfolio with opportunities for category expansion into apparel, accessories, outerwear, travel, and more. There is a significant addressable market, presenting opportunities for the brand to evolve into a full lifestyle offering with a focus on innovation and comfort.”
Additionally, Authentic has secured a long-term licensing agreement with Marc Fisher, a full-service footwear company. Marc Fisher is already the US footwear partner for Authentic-owned brands such as Nine West and Hunter Boots. Now, Marc Fisher will become the core footwear partner for Rockport in the US, bringing exciting growth prospects within the men’s footwear market.
Marc Fisher, CEO of Marc Fisher Footwear, shared his excitement about the partnership, stating, “We are excited to partner with Authentic on Rockport, a brand with great consumer equity. Rockport’s strong connection to its core consumer presents compelling growth opportunities within the men’s footwear market, and we look forward to continuing to build upon its foundation with Authentic.”
Following the upcoming closing of Rockport and Boardriders, Authentic Brands’ portfolio is expected to generate over £22.3 billion ($29 billion) in annual retail sales.
