Simon Property Group, Authentic Brands Group acquire Lucky Brand

Lucky Brand has been bought by Sparc Group, joint partnership of
Simon Property Group and Authentic Brands Group. The denim brand had
been searching for a buyer since it filed for bankruptcy last
month.

Sparc is paying a sum of 140.1 million dollars in cash for Lucky
Brand, and will acquire rights to sourcing, product design and
development and its e-commerce business. It also plans to negotiate
with landlords to keep several key North American Lucky Brand stores
open.

This deal comes just a day after Simon Property Group and Authentic
Brands Group announced its purchase of Brooks Brothers for 305 million
dollars.