Authentic Brands Group has struck a big deal with French retail giant Beaumanoir Group, involving the sale of former Boardriders Inc. operations in France.
As we previously reported, Boardriders, the parent company of renowned brands such as DC Shoes, Element, RVCA, Billabong, ROXY, Vonzipper, and Quiksilver, has been acquired by ABG.
After successfully acquiring Boardriders, ABG is now ready to conquer new territories through a long-term partnership with Beaumanoir.
Beaumanoir, known for its 2.3 billion euros in yearly revenue and 2,000 retail stores, has a diverse portfolio of fashion labels, including Cache Cache, Bonobo, Sarenza, and Vib's.
According to reports, this deal is a game-changer for ABG. As part of the deal, ABG will take on operational responsibilities in Europe, moving away from its traditional licensing model.
Beaumanoir will also handle necessary restructuring efforts at the former Boardriders headquarters in France, which will likely involve job cuts.
The French headquarters had managed to avoid extensive layoffs under previous owner Oaktree Capital Management.
Looking ahead, Beaumanoir will take charge of design, manufacturing, wholesale, retail, and e-commerce for these brands in categories like apparel, swimwear, travel gear, and accessories across men's, women's, and kids' segments.
This partnership between ABG and Beaumanoir aims to drive sustained growth and market expansion for these iconic brands in Europe.