Authentic Brands Group withdraws IPO plans

By

Reuters

Apparel chain operator Authentic Brands

ABG’s portfolio includes brands such as Forever 21. Photo: Forever 21 x Everlast collection

The company, which did not give a reason for shelving its listing, had agreed in November to sell a stake to private equity firms CVC Capital Partners

The group owns more than 30 brands including Forever 21AeropostaleVan Heusen

Media reports earlier this week said the company had bought a majority stake in former soccer player David Beckham

A spokesperson for Authentic Brands on Thursday refuted the reports, saying the company does not currently have a partnership with DB Ventures.

Authentic Brands in July last year had filed to go public, intending to list on the New York Stock Exchange, revealing a strong jump in earnings in 2020.