Authentic Brands Group has taken a 51% stake in Frye, one of the nation’s oldest footwear brands, with an eye to expanding its footprint.

ABG will co-own the brand in partnership with Global Brands Group Holding Limited, from whom it acquired the stake. This is the first time ABG and Global Brands, who have had a long history of collaboration, co-own a brand.

ABG and Global Brands will focus on extending Frye into new categories and growing the brand’s global retail presence through new freestanding stores and shop-in-shop locations. In addition to…