ADVERTISEMENTIt has driven dealmaking in the US footwear and apparel sectors to roughly $21 billion in deals announced year-to-date. The previous record for US apparel and footwear M&A was last year’s $16.1 billion in deals, and before that, 2021 with $15.6 billion, according to LSEG. This year, JPMorgan advised 3G Capital for Skechers and brand management firm Authentic Brand Group’s $1.4 billion deal last month for Guess. Brand management firms typically buy a brand’s IP and then license it to operating partners that have the manufacturing, design and sales responsibilities. Private equity firm Bain Capital is trying to offload its stake in Canada Goose and Lands’ End has received offers from brand management firms.