Forever 21 snapped up by mall owners, Authentic Brands
Updated : February 20, 2020 07:25 AM IST
Brand management company Authentic Brands said on Wednesday it and mall owner Simon Property would own 37.5 percent each of the retailer, while Brookfield Property would buy 25 percent of the intellectual property and operating businesses.
Financial terms of the deal were not disclosed.
Forever 21, which has 815 stores in 57 countries, will continue to operate in US and international markets, Authentic Brands said.