Authentic Brands has dropped its bid to go public just three months after it sold a stake in its business to private equity firms CVC Capital Partners and HPS Investment Partners.

The deal was made in November, closed in December, and valued Authentic Brands at US$12.7 billion.

According to Reuters the business has not yet specified why it forfeited its aspirations to list on the New York Stock Exchange, which it first revealed last July.

Authentic Brands owns over 30 brands including Forever 21, Van Heusen and Volcom, and holds a retail portfolio spanning the luxury, specialty, and department store spaces.

Last November, CVC managing partner Chris Baldwin said the business would work closely with Authentic Brands to execute on its strategic priorities – especially in regard to boosting its international footprint.

“Authentic Brands has shown that its unique business model can successfully innovate and grow brands across a broad spectrum of consumer categories, and we are excited to leverage CVC’s experience in the consumer, retail and media and entertainment sectors to support the company’s growth ambitions,” Baldwin said.