The owner of Tommy Hilfiger and Calvin Klein is focusing on its flagship labels and has sold its heritage brands for $220 million, in a deal that has made Authentic Brands (ABG) a specialist in formal American menswear.
Brooks Brothers has said that Authentic Brands Group and malls giant Simon Property Group have it in their sights with a $300m+ bid and plans to save “at least” 125 stores. But other bids could still derail the plan.
Fashion retailer Arvind Fashions plans to raise Rs 400 crore ($52.9 million) capital, via rights issue to stabilise its operations and cash flow, due to the disruptions caused by the Covid-19 pandemic.
Arvind Ltd reported a consolidated net profit of Rs 24 crore ($3.4 million) for the first quarter ended June 2019 as against Rs 62 crore it had reported in the corresponding quarter of the last fiscal year.