ABG Plans IPO in Next 12 Months

Authentic Brands Group (ABG), a private company owning brands like Forever 21 and Champion, appointed Matt Maddox as CEO while founder Jamie Salter transitioned to executive chairman. Salter, who will focus on M&A and strategic partnerships, hinted at an IPO within the next 12 months. The company aims to grow its annual retail sales from $37 billion to $100 billion in five years, with a strategic shift towards entertainment, which currently contributes 20% of its business.