Lucky for you, they just filed for IPO, so you can read their prospectus! https://www.sec.gov/Archives/edgar/data/0001666054/000110465921089494/tm2114913-5_s1.h

Lucky for you, they just filed for IPO, so you can read their prospectus! https://www.sec.gov/Archives/edgar/data/0001666054/000110465921089494/tm2114913-5_s1.htm#tPRSU https://www.sec.gov/Archives/edgar/data/0001666054/000110465... I think their strategy is right there on page one: ABG is responsible for brand identity and strategy, and marketing. ABG has approval rights over product design. Their partners (licensees) do everything else (including product design). Presumably for this strategy to work at all, people believe that ABG is sufficiently skilled at branding and marketing (as well as having the ability to synergize across brands... before you laugh, ABG owns the rights to likeness of Marilyn Monroe, Mohummad Ali, Shaq and Elvis) that people who like to be just "operators" will partner with them.