A pedestrian walks by a Lucky Brand retail store on July 06, 2020 in Corte Madera, California. Los Angeles based Lucky Brand Dungarees announced that it has filed for Chapter 11 bankruptcy as the company is millions of dollars in debt. The retailer will close 13 of its 200 retail stores.
Justin Sullivan | Getty Images
A team-up of the biggest U.S. mall owner, Simon Property Group, and apparel licensing firm Authentic Brands Group has been tapped by a bankruptcy court as the winning bidder to acquire denim maker Lucky Brand for $140.1 million.
The two — in a venture known as Sparc — announced Thursday evening they are set to assume the role of core licensee and operating partner for Lucky, overseeing all sourcing, product design and development, running all of the retailer’s stores in North America, and its e-commerce business.
Lucky has more than 175 stores in North America, and its merchandise is also often found in department stores like Macy’s. The clothing brand filed…