Advertisement

ABG Takes ‘Meaningful’ Stake in Checkout Provider Bolt, Dismisses Lawsuit

Authentic Brands Group (ABG) has settled and agreed to dismiss its lawsuit against checkout solution provider Bolt. Both companies agreed to continue their partnership, which currently powers one-click checkout for Forever 21 and Lucky Brand, with the possibility of expanding the technology to more ABG brands in the coming months.

Additionally, ABG has taken a stake in Bolt, according to Jamie Salter, Founder, Chairman and CEO of ABG. The retail holding company is “excited to continue exploring broader opportunities with our businesses,” Salter said in a statement.

ABG’s share of Bolt will reportedly be “meaningful,” a person familiar with the matter told Bloomberg. ABG had argued in the suit that it should be entitled to buy up to 5% of Bolt for a price set earlier in the company’s existence. The agreed-upon stake will reportedly be less than 5%, but ABG will not have to pay for it, according to the person.

“The settlement is an amicable solution for both sides,” said Maju Kuruvilla, CEO of Bolt in an interview with Bloomberg.

Advertisement

Frictionless retail has become increasingly important Offering one-click checkout resulted in a 40% year-over-year ecommerce revenue boost for Lucky Brand, according to data from Bolt.

“The ecommerce landscape continues to evolve rapidly and we are committed to working with the best and the brightest to optimize our loyal customer experiences,” said Adam Kronengold, CDO of ABG in a statement. “ABG is excited to be a part of the next chapter of Bolt’s evolution and thrilled to partner and innovate for our customers.”

Featured Event

View the Retail Trendcaster Webinar Series on-demand to uncover key 2025 retail trends, from AI and personalization to social commerce. Gain expert insights, data-driven predictions, and actionable takeaways to stay ahead in a rapidly evolving market.

Advertisement

Advertisement

Retail Trendcaster Webinar Series
Days
Hours
Minutes
Seconds

Uncovering What’s Next in Retail

On-Demand Limited Video Series

Q1 is a pivotal time for retail, with experts analyzing holiday sales and forecasting trends. View the full lineup of the Retail Trendcaster video series for insights on consumer spending, AI, personalization, social commerce, and more—helping you focus on what truly matters in 2025.

Brought to you by
Retail TouchPoints
Access Now
Retail TouchPoints is a brand of Emerald X LLC. By clicking the button and submitting information, you acknowledge and agree that your information may be shared with corporate affiliates of Emerald X LLC, and other organizations such as event hosts, speakers, sponsors, and partners. Please read our Privacy Policy and our Terms Of Use for more information on our policies.

Access The Media Kit

Interests:

Access Our Editorial Calendar




If you are downloading this on behalf of a client, please provide the company name and website information below: