Frederick’s of Hollywood Inc. goes to Authentic Brands Group Inc.
The purchase price is $22.5 million.
Authentic Brands Group is buying Frederick’s intellectual property, some inventory and its e-commerce business. The company will license the intellectual property to retailers and manufacturers.
Frederick’s, founded in 1946, closed all of its retail stores in April ahead of its bankruptcy filing April 19 with the offer from Authentic in place and $11 million in bankruptcy financing from its lender, Salus Capital Partners.
Frederick’s at one point was the leading brand in lingerie. Last year it accounted for less than 1% of the $13 billion market. Victoria’s Secret made 41.3% of that.