Remember Juicy Couture and Pier 1? They went under, but not all the way under. Someone still makes millions of dollars off these names. And the hunt for revivable brands is big business.
In 2019, Barneys New York went under. But its name lives on under a new owner that specializes in buying and recharging dying brands.In 2019, Barneys New York went under. But its name lives on under a new owner that specializes in buying and recharging dying brands.bought out of bankruptcyit is as ready as ever to sell you the shortest shorts.
In simplest terms, the business model works because"not everybody knows the store is closed," says James Cook, director of retail research at the commercial real estate firm JLL."People are Googling that brand all the time.", shedding its old Overstock self and relaunching under the newly purchased Bed Bath & Beyond name.
Forever 21 and Barneys New York, both bought out of bankruptcy by Authentic Brands Group, produced a joint collection this year.But nobody makes money on undead brands quite like Authentic Brands Group. It owns more than 50 labels, some of which you may not realize went bankrupt or came close to it: Nine West, Quiksilver, Juicy Couture, Nautica, Barneys, Brooks Brothers.
Authentic is"the sole owner of basically everything that makes a brand cool," says Alex Terseleer, who helps companies strike these kinds of deals as a principal at the management consulting firm Kearney.Authentic Brands Group CEO Jamie Salter accepts a Footwear News Achievement Award in 2021. That year, his firm said it would buy the Reebok brand from Adidas.Authentic Brands Group CEO Jamie Salter accepts a Footwear News Achievement Award in 2021.
It's a constant series of leaps of faith, says Terseleer. That's a big reason why this peculiar business of retail-brand taxidermy remains niche and nascent. The brand is dead — long live the brand.
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