WHP International has introduced a landmark settlement to accumulate the mental property of Vera Wang trend model. The transaction marks a big milestone for WHP International because it establishes a premium trend vertical, including Vera Wang to its portfolio alongside different famend manufacturers like Rag & Bone, Joe’s Denims, and G-STAR.
WHP International has introduced acquisition of Vera Wang trend model’s IP, marking a serious milestone because it builds a premium trend vertical alongside manufacturers like Rag & Bone and G-STAR.
Vera Wang will stay founder and chief inventive officer and be part of as a shareholder.
The deal, anticipated to shut by January 2025, strengthens WHP International’s $7 billion portfolio in trend and luxurious.
The transaction, which stays topic to customary closing circumstances, is anticipated to finalise in January 2025.
As a part of the acquisition, Vera Wang will proceed in her function as founder and chief inventive officer, making certain her signature affect stays central to the model’s inventive course. Wang can even be part of WHP International as a shareholder, a transfer that positions her to actively contribute to the model’s continued progress and innovation.
The acquisition is poised to raise WHP International’s portfolio, which collectively drives over $7 billion in annual retail gross sales throughout trend, sports activities, and hardgoods. This deal can even solidify Vera Wang’s place as a luxurious powerhouse and spotlight WHP International’s dedication to increasing its footprint within the premium trend sector, the 2 entities stated in a joint press launch.
“I am so excited to announce this new partnership with WHP Global as we embark on an incredible new chapter for the VERA WANG brand, which I began over 30 years ago. WHP Global’s forward-thinking approach perfectly aligns with my vision for the future. Together, we will push boundaries, exploring bold opportunities to expand into new categories and markets, all while staying true to the legacy of timeless sophistication and the distinctive style that defines VERA WANG,” stated Vera Wang.
“Vera Wang is a legend. Her name is synonymous with modernity, artistry and impeccable style. We are honored to partner with Vera Wang and look forward to building on the brand’s remarkable legacy with new business opportunities around the world,” Yehuda Shmidman, chairman and CEO of WHP International, added.
Monetary phrases haven’t been disclosed. Solomon Companions, LP served because the monetary advisor to Vera Wang.
