Global brand development company Authentic Brands Group has bought footwear label Rockport from bankruptcy.

Last month, Rockport filed for bankruptcy under Chapter 11 in the District of Delaware, for the second time in five years.

Authentic Brands said the acquisition expands its “diverse footwear portfolio” with a “trusted brand”.

Jamie Salter, founder, chairman and CEO of Authentic Brands, said Rockport’s core consumer is “more active” than ever.

“The brand’s offering is a perfect addition to our portfolio with opportunities for category expansion into apparel, accessories, outerwear, travel and more.

“There is a significant addressable market, presenting opportunities for the brand to evolve into a full lifestyle offering with a focus on innovation and comfort.”

Meanwhile, the company has also signed a long-term licensing agreement with a full-service fashion footwear company – Marc Fisher Footwear – which will take on Rockport’s footwear design, wholesale and e-commerce operations in the US.

Marc Fisher, CEO of Marc Fisher Footwear, said: “Rockport’s strong connection to its core consumer presents compelling growth opportunities within the men’s footwear market and, we look forward to continuing to build upon its foundation with Authentic.”

Authentic Brands is also expected to announce additional partners in the coming months and will leverage its proprietary platform.