ABG Partners with IB Group to Grow Forever 21’s Retail Presence in Mexico
Authentic Brands Group (ABG), a global brand development, marketing, and entertainment company, and IB Group today announce a partnership to expand Forever 21 across Mexico.
Forever 21 Mexico, a newly-formed entity under IB Group and Grupo Cojab, will be responsible for the distribution of Forever 21 in Mexico and has plans to open new shop-in-shops in the region this year. Under the new structure, 37 Forever 21 stores will transition from a vertical operation to a licensed model and will remain open.
“Our partnership with IB Group serves as a new launching point for Forever 21 in Mexico,” said Jamie Salter, Founder, Chairman, and CEO of ABG. “The brand has an incredibly loyal following of fashion- forward, female customers in the region who identify with its unique offerings and collaborations. In recent years, Forever 21 has also seen consistent growth across the men’s category. We’re excited to be working with IB Group to continue the brand’s growth and success in this important market.”
This announcement expands ABG’s relationship with IB Group, a marquee partner of the ABG-owned Aéropostale brand in Mexico. With over three decades of experience, IB Group has introduced American brands to the Mexican market including Champion, Chico’s, London Fog, Capelli, and Soma, among others. The Mexican holding company specializes in sourcing, distribution, retail, real estate, and marketing of fashion and consumer brands.
“In these challenging times, we are creating new opportunities thanks to previous experiences with our portfolio of brands and the knowledge of the IB Group team,” said Carlos Ibarra, Chairman of the Board of Directors of IB Group. “We are excited to continue our partnership with ABG and look forward to creating new opportunities that will broaden distribution for Forever 21 in Mexico.”
Forever 21 will continue to offer on-trend merchandise for women, men, and kids at a compelling value in its 590 stores around the world and through its robust e-commerce platform. After recent store closures due the COVID-19 pandemic, the brand is steadily re-opening doors across the U.S., Mexico, Europe, and Southeast Asia in compliance with the safety guidelines and recommendations by the CDC (Centers of Disease Control and Prevention).
Forever 21 is owned by ABG, Simon Property Group (Simon) (NYSE:SPG), and Brookfield Property Partners (Brookfield) (NASDAQ: BPY). The brand’s ownership group is working with various landlords around the world to maintain Forever 21 store operations and expand the brand in key regions including Brazil, Latin America, Canada, North America, Western Europe, and China.
About Authentic Brands Group
Authentic Brands Group (ABG) is a brand development, marketing, and entertainment company, which owns a portfolio of global media, entertainment, and lifestyle brands. Headquartered in New York City, ABG elevates and builds the long-term value of more than 50 consumer brands and properties by partnering with best-in-class manufacturers, wholesalers, and retailers. Its brands have a global retail footprint in more than 100,000 points of sale across the luxury, specialty, department store, mid-tier, mass, and e-commerce channels, and more than 5,500 freestanding stores and shop-in-shops around the world.
ABG is committed to transforming brands by delivering compelling products, content, business, and immersive experiences. It creates and activates original marketing strategies to drive the success of its brands across all consumer touchpoints, platforms, and emerging media. ABG’s portfolio of iconic and world-renowned brands generates more than $12 billion in annual retail sales and includes Marilyn Monroe®, Elvis Presley®, Muhammad Ali®, Shaquille O’Neal®, Sports Illustrated®, Dr. J®, Greg Norman®, Neil Lane®, Thalia®, Nautica®, Aéropostale®, Forever 21®, Juicy Couture®, Vince Camuto®, Herve Leger®, Judith Leiber®, Barneys New York®, Frederick’s of Hollywood®, Nine West®, Frye®, Jones New York®, Louise et Cie®, Sole Society®, Enzo Angiolini®, CC Corso Como®, Hickey Freeman®, Hart Schaffner Marx®, Adrienne Vittadini®, Taryn Rose®, Bandolino®, Misook®, Spyder®, Tretorn®, Tapout®, Prince®, Volcom®, Airwalk®, Vision Street Wear®, Above The Rim®, Hind®, Thomasville®, Drexel®, and Henredon®.
For more information, visit authenticbrandsgroup.com. Follow ABG on Twitter, LinkedIn, and Instagram.
About IB Group:
A Mexican holding company, with a team with more than 30 years of experience, that provide an integral solution in the representation, exclusive commercialization and services in different distribution channels nationwide. IB Group has a robust platform for the development of expansion strategy, construction, and Real Estate for different leading brands in the segment. The Group specialized in the introduction of different brands to the Mexican market in the sectors of fashion, jewelry, and accessories through specialized channels and boutique stores and integrates all the steps of the fashion retail and wholesale process.
For more information, visit: https://ibgp.com.mx/en/ Follow IB Group on LinkedIn.
About Forever 21:
Forever 21 is a global fashion retailer of women’s, men’s, and kid’s clothing, accessories, and footwear, as well as beauty. The LA-born brand, which was established more than three decades ago, is known for offering a broad selection of on-trend and fashion-forward merchandise at a compelling value. Forever 21 has a robust eCommerce platform and global retail footprint with over 400 locations in the U.S. and nearly 150 locations internationally in Mexico, South America, Asia and Europe.
For more information or to find a store location, please visit: www.forever21.com Follow @forever21 on Instagram, Facebook, and Twitter