Fast fashion chain Forever 21 has released a new co-branded collection with Barneys, the company announced Thursday. Both are owned by licensing firm Authentic Brands Group.
The 32-piece collection is designed to be unisex and includes monochromatic basics such as leggings, blazers and denim, priced between $30 and $130.
“I shopped both Barneys and Forever 21 when I was younger, so we wanted to [highlight] this notion that fashion is high-low,” said Winne Park, chief executive of Forever 21.
Forever 21 recently released similar tie-ups with Reebok and Juicy Couture, two brands also under Authentic Brands Group umbrella, which owns the intellectual property behind more than 40 brands and generates revenue by licensing out their names.
In June, Authentic Brands Group announced it raised $500 million from an existing investor, General Atlantic, at a valuation of over $20 billion, according to market reports. The firm acquired Barneys New York out of its bankruptcy auction in late 2019, and the following year, it partnered with mall landlords Simon Property Group and Brookfield Property Group to buy Forever 21. Last week, Authentic finalised its acquisition of Boardriders, which owns beachwear brands Quiksilver, Billabong and Roxy.
Items will be available online and in select stores starting Sept. 7.
Learn more:
Shein Will Sell Forever 21 Clothes With SPARC Group Partnership
Online fast fashion juggernaut Shein and SPARC Group — a joint venture between licensing firm Authentic Brands Group and mall operator Simon Property Group — have formed a partnership that could see Forever 21 clothing and accessories sold on Shein’s site, and Shein roll out shop-in-shops inside Forever 21 Stores.
Credit: Source link
