Forever 21, Sports Illustrated owner files for IPO

Authentic Brands Group, the parent company of fast-casual chain Forever 21, is going public.

The IPO filing comes on the heels of a strong year for the company, which also has the Sports Illustrated magazine title and teen-retailer Aeropostale, under its umbrella.

While many of its peers have been downsizing, Authentic Brands has been on a buying spree, scooping up over 30 labels that are sold at about 6,000 stores.

Its rich portfolio of brands include those in media, entertainment, fashion, home, active and outdoor lifestyle sectors.

The expansion comes at a time when retailers are set to benefit from pent-up demand as vaccinated consumers venture out and hiring hits a 10-month high but also follows up years of retail bankruptcies.

Net income at the company nearly tripled in 2020 to about $211 million from $72-1/2 million the year before.

Authentic Brands plans to list its stock on the New York Stock Exchange under the symbol "AUTH".

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