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AUTHENTIC BRANDS DEAL: Authentic Brands Group has acquired four sports-inspired athletic footwear brands from Payless Holdings for an undisclosed amount. The brands are Airwalk, Hind, Vision Street Wear and Above the Rim.
The purchase of certain assets of Collective Licensing International, Lifestyle Brands Corp. and Collective Brands Cooperatief include the intellectual property assets connected to the footwear brands. Under the terms of the agreement, Payless will retain the right to market and sell Airwalk-branded products in its company-owned and franchise stores, and through e-commerce.
Payless is jointly owned by private equity firms Golden Gate Capital and Blum Capital Partners. It was originally owned by Collective Brands, until it was split in two in 2012, with Wolverine Worldwide acquiring Collective’s Performance + Lifestyle Group and the two private equity firms acquiring Payless ShoeSource and Collective Licensing International.