Authentic Brands Group has entered into a long-term partnership with the Caprice Australia group of companies, according to a Wednesday press release.
Through the deal, newly formed Caprice subsidiary BR South Pacific will transition and manage operations for Authentic-owned brands including Quiksilver, Billabong, Roxy, RVCA, DC Shoes, Element, VonZipper, Spyder and Volcom across Australia, New Zealand and the South Pacific region.
The agreement is effective immediately, per an Authentic spokesperson, who also confirmed details of the deal.
Caprice acquired the operational arm of the regional business from Liberated Brands, the brands’ former licensee in the region. Liberated declared bankruptcy and closed all its stores earlier this year.
BR South Pacific has expertise in transforming licensed brands into lifestyle experiences, Authentic said in the release. Moving forward, Authentic added that BR South Pacific would expand the brands into new markets, with a focus on sustainability and a revitalized product line.
“This move secures the future of more than 200 branded retail stores, wholesale and e-commerce platforms, safeguarding retail presence, supporting local jobs, and ensuring continued access to the brands for communities across these markets,” Authentic said.
The partnership helps return Quiksilver and Billabong to Australia, where both brands originated, according to David Brooks, executive vice president of Authentic’s Action and Outdoor Sports Lifestyle division.
“We’ve worked closely with Caprice Australia to put the right partnership in place,” Brooks said in the release. “Their understanding of the market, combined with the experience of the existing management team, puts us in a strong position to grow these brands.”
Paul Cannon, CEO of BRSP, added that his team was also eager to see these brands managed under an Australia-owned operator.
“We are looking forward to working with the talented Australian teams that will continue to operate the business moving forward,” Cannon said in the release. “These brands have a profound impact on shaping surf culture worldwide, and we are committed to honouring that legacy whilst evolving to inspire and connect with [the] next generation.”
Authentic owns more than 50 brands, including Reebok, Champion, Sperry, Hunter and Ted Baker. The combined businesses generate about $32 billion in annual retail sales, per the release, and have a presence in about 150 countries, with more than 13,000 freestanding stores and shop-in-shops.
In addition, Authentic has a joint venture with Saks Global, called Authentic Luxury Group, which works with luxury and accessible luxury brands, including Barneys New York, Hervé Léger, Vince, Neiman Marcus and Saks Fifth Avenue.
