Authentic Brands adds bankrupt footwear label Rockport to its portfolio

Authentic Brands Group (ABG), the owner of Ted Baker and Quicksilver, has today announced that it has saved innovative footwear brand Rockport from bankruptcy.

The United States Bankruptcy Court for the District of Delaware has approved the sale transaction of Rockport, the comfort-first footwear company. The brand is credited as the pioneer of engineering athletic soles into dress shoes.

With Rockport, Authentic is diversifying its already impressive footwear portfolio.  The company plans to leverage its expertise in brand development and strategic partnerships to propel the Rockport brand to new heights, unlocking its full potential.

Jamie Salter, Founder, Chairman and CEO of Authentic, commented: "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."

What's more, Authentic has signed a long-term licensing agreement with the full-service footwear company Marc Fisher. Marc Fisher is the US footwear partner for Authentic-owned Nine West, Hunter Boots, Bandolino and will become the core footwear partner for Rockport in the US.

Marc Fisher, CEO of Marc Fisher Footwear, said: "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."

As of next month’s closing of Rockport and Boardriders, Authentic Brands’ portfolio will generate more than £22.3 billion  ($29 billion) in annual retail sales.

This follows the news that General Atlantic, a leading growth equity firm, has further invested $500 million in Authentic Brands. The company intends to use the funding to support ‘worldwide expansion and accelerate its proven playbook’, which connects brands with partners, operators, distributors and retailers.