Steve’s breakdown: 1863 is when Frye was born and now they have the partners & capital to go global. They haven’t done any serious marketing in a while but this move will require it. Yes?
NEW YORK, NY: Authentic Brands Group has taken a 51% stake in Frye, one of the nation’s oldest footwear brands, with an eye to expanding its footprint.
ABG will co-own the brand in partnership with Global Brands Group Holding Limited, from whom it acquired the stake. This is the first time ABG and Global Brands, who have had a long history of collaboration, co-own a brand.
ABG and Global Brands will focus on extending Frye into new categories and growing the brand’s global retail presence through new freestanding stores and shop-in-shop locations. In addition to selling through specialty stores and department stores, Frye operates 13 stores across the United States, with three new locations slated to open in July. Global Brands will continue to operate and manage Frye’s existing retail and wholesale businesses.
“Frye is an American legacy brand which has been synonymous with quality and style for more than a century,” said Jamie Salter, chairman and CEO of ABG. “Global Brands is an incredible business partner and we are thrilled to form a partnership with them on such an esteemed brand.”
Key product categories that compliment Frye’s core product lines will be developed under Global Brands including apparel, footwear, belts, bags, cold weather accessories, hosiery, underwear, costume jewelry, and soft home goods.
ABG’s global portfolio of brands includes Greg Norman, Aéropostale, Juicy Couture, Jones New York, Judith Leiber, Frederick’s of Hollywood, Frye and Hart Schaffner Marx.