PVH Sells Heritage Brands Assets to Authentic Brands Group in $220 Million Deal

American fashion group PVH said Wednesday it is selling off brand trademarks and other assets for IZOD, Van Heusen, Arrow and Geoffrey Beene, as it looks to focus on its core global brands, Calvin Klein and Tommy Hilfiger. The transaction is expected to close during the third quarter of this year, subject to regulatory approval.

The deal comes amid a wave of consolidation in the American retail sector, with groups including Gap and Ralph Lauren shedding smaller labels to focus on a tighter portfolio of brands. ABG, a licencing company that owns Forever 21, Barneys New York, Juicy Couture and Nine West, has been an active player. In May, it joined forces with SPARC to acquire outdoor brand Eddie Bauer. The company is reportedly also planning for an IPO this year, according to Bloomberg.