who owns jcpenney shaq {Dec} Know The Detail Here!>> This post contains the detail about a brand which caters to the apparel need of the tall and big section of the population in the country.
Shaquille O Neal XLG is one of the top brands in the men’s wear tall and big category and makes upto 10 per cent of annual sales in men’s apparel in the United States. Shaq was launched in august 2018 in 350 jcpenney store with Shaquille O Neal as the brand ambassador; in this article, we will try to find out exactly who owns jcpenney shaq?
The association of former NBA star with the brand has created much ambiguity related to brand ownership.
About jcpenney and Shaquille O Neal:
Jcpenny is a medium-sized departmental store chain with around 700 stores at different places in the United States. It is one of the largest retailers dealing in the tall and big category in the country. James cash penny is the founder of this retail chain, but in 2020 it was taken over by Brookfield Asset Management and Simon property group.
Who owns the jcpenny shaq brand is actually what we are concerned with, and the takeover of penny retail by Brookfield and Simon group should not be confused with the ownership issue of the brand. Does Shaquille O Neal, the brand ambassador of Shaq, has any stake in the ownership of the brand as this brand is named after him.
Shaquille has been chosen to promote this brand as he was with penny previously also and his physique suits the requirement of the tall and big category. His fan following among the section population to which the product is positioned is also a plus point for the star.
Who owns jcpenney shaq?
Jcpenney and Shaquille O Neal appears to be the top two possibilities that can own the brand as the former is selling the product through its 700 outlets and the latter is the brand ambassador of the product, and the brand is also named after the former star.
Brand management and selling the product are two things one needs a lot of effort in managing the brand and creating an impression in customers minds to sustain sales over a more extended period of time. In the jcpenny shaq case, jcpenny deals with managing store and inventory while Authentic Brand Group is the owner of jcpenny Shaq brand and deals with brand identity and its marketing.
Authentic Brand group, who owns jcpenny shaq are bringing their IPO:
This group is into the business of managing brands, and it has almost 30 different brands in its portfolio; some of the brands under its portfolio are Van Heusen, Arrow, Jones New York, Marilyn Monroe and Shaquille O Neal. It holds the license of the brand and earns license fees on the sale of its product.
The initial public offering which the group is bringing into the market is of $ 100 million, and it’s 2020 figure shows an approximate sale of $ 10 billion by the brand under its ownership. It has a revenue of $489 million.
Final verdict:
Authentic Brands Group, which owns jcpenny Shaq and other 30 brands, is bringing an IPO and looking to get around $ 100 million from it. Though it is not selling any product or manufacturing it, it earns the revenue from the product’s sales as a license fee.
If anyone has used the jcpenny Shaq brand, please share your feedback in the comment section and give your opinion about the post below. To know more about its IPO offering read it here.
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