Forever 21 parent company Authentic Brands Group (New York) has officially withdrawn plans for an IPO, according to a filing with the U.S. Securities and Exchange Comission, reports Business of Fashion.
Though ABG did not provide a reason for the withdrawal, it recently sold a stake to two private equity firms – CVC Capital Partners and HPS Investment Partners – in a $12.7 billion deal in November.
Among the retail brands owned by Authentic Brands include Aeropostale, Van Heusen and Bandolino. Earlier this week, the company purchased a majority stake in David Beckham’s DB Ventures LLC.