Authentic Brands Group (New York), owner of fast fashion brand Forever 21, and SPARC Group (Lindhurst, N.J.) have completed their acquisition of outdoor retailer Eddie Bauer, according to Fashion United. SPARC Group is a joint venture between Authentic and mall owner Simon Property Group (Indianapolis, Ind.).
“We are thrilled to welcome this iconic American outdoor brand into our portfolio,” said ABG founder and chair Jamie Salter in a release. “Eddie Bauer comes at an exciting time for ABG and SPARC as the outdoor market opportunity is growing significantly across the globe.”
The acquisition includes Eddie Bauer’s intellectual property as well as its core operating business. Its headquarters will remain in Seattle and current CEO Damien Huang will continue to lead the brand.