Amazon and Forever 21 said to consider bidding for American Apparel
Other than Amazon and Forever 21, Authentic Brands Group, which owns Aeropostale and Juicy Couture, is also considering bidding for American Apparel
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New York: Amazon.com Inc. and Forever 21 Inc. are considering making bids for bankrupt retailer American Apparel Inc., according to a person familiar with the situation.
Authentic Brands Group Llc, which owns Aeropostale and Juicy Couture, is also considering an offer, said the person, who asked not to be identified because the discussions aren’t public.
American Apparel filed for its second bankruptcy within a year in November with the intent to sell the company. Gildan Activewear Inc., a Canadian T-shirt and underwear maker, made an initial offer of $66 million for the brand and inventory but not any of the company’s stores.
Representatives for Amazon, Forever 21 and Authentic Brands didn’t immediately respond to requests for comment. A spokeswoman for American Apparel declined to comment. Reuters reported the potential bids earlier on Wednesday.
Amazon is already making a push into physical locations. It has bookstores in San Diego, Seattle and Portland. Last year an executive for a mall operator said Amazon planned to open as many as 400 bookstores. The online retail giant is also testing a convenience store concept in Seattle called Amazon Go.
In addition to American Apparel clothing stores, the company has a wholesale division that sells blank T-shirts and other basics to screen printers. It makes its clothes in the US at a factory in Los Angeles. Bloomberg