Authentic Brands Group won the auction for the intellectual property of bankrupt footwear company Nine West Holdings Inc. with a revised bid of about $350 million Reuters reported June 11, citing people familiar with the matter.
Authentic Brands, which owns Frye Boots and Juicy Couture, bid against footwear retailer DSW Inc. in a Sunday auction, according to the report.
Nine West filed for Chapter 11 bankruptcy on April 6 after it missed an interest payment. At the time, Nine West said it entered a "stalking horse" agreement with Authentic Brands for its Nine West and Bandolino brands for $200 million.
Nine West, DSW and Authentic Brands did not immediately return a request for comment.
