Newly formed company, Catalysts Brands has sold its US operations of the brand Reebok, and is exploring strategic options to sell Forever 21’s operations.

Catalysts Brands is a result of merger between Sparc Group, the operator of renowned fashion brands Lucky Brand, Bauer, Aeropostale, Forever 21, and Brooks Brothers with JCPenney.

The newly created Catalysts Brands is being led by Marc Rosen, Former CEO, JCPenney as its CEO. The company boasts impressive figures, including approximately $9 billion in revenue, 1,800 store locations, 60,000 employees, and $1 billion in liquidity.

Acquired by Authentic Brands Group out of bankruptcy in February 2020, Forever 21 was licensed to Sparc Group, an operator of about 500 stores. Many of the group’s stores are leased by Simon Property, benefiting both companies by maintaining mall occupancy and generating income for Authentic Brands Group, which owns numerous lifestyle and retail brands.

Having filed for bankruptcy protection in 2020, JCPenney was acquired by Simon Property Group and Brookfield Asset Management Inc. for $800 million.