Little-known owner of Juicy Couture on an acquisition spree

New York

AUTHENTIC Brands Group, the little-known name behind such well-known apparel labels as Juicy Couture, Frederick's of Hollywood, and Tapout, is gobbling up brands through acquisitions and asserting itself as a force in the apparel world.

On Tuesday, ABG announced the acquisition of Tretorn, an athletic footwear label, from Puma. Tretorn is best known for its Nylite shoe, a style that famously graced the feet of such tennis legends as Björn Borg and Martina Navratilova. ABG hopes the brand will capitalise on lifestyle trends, such as rising demand for activewear. "Tretorn holds a unique place in the minds and hearts of consumers worldwide - from performance, to athleisure, to style, Tretorn has made a statement on and off tennis courts for decades," Jamie Salter, chief executive of ABG, said in a statement. Terms of the deal were not disclosed.