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- WHP Global Acquires VERA WANG IP in Strategic Fashion Expansion
WHP Global Acquires VERA WANG IP in Strategic Fashion Expansion
Slice of Retail Team
December 17, 2024
Key Highlights:
WHP Global to acquire the intellectual property of VERA WANG.
Vera Wang to remain Founder & Chief Creative Officer and join WHP Global as a shareholder.
Acquisition will anchor WHP Global's premium fashion vertical alongside rag & bone, Joe's Jeans, and G-STAR.
VERA WANG brand generates $700 million annually across multiple fashion and lifestyle categories.
The deal is expected to close in January 2025, pending customary approvals.
Source: PR Newswire
Notable Quotes:
"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."
"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."
Our Take:
WHP Global's acquisition of VERA WANG signals a strategic move into the high-end fashion segment, capitalizing on the brand's established luxury status and global recognition. By retaining Vera Wang as the creative visionary, WHP ensures the brand’s integrity while accelerating its expansion into untapped categories and markets. This partnership not only strengthens WHP Global's premium fashion portfolio but also highlights the growing demand for heritage brands that seamlessly blend tradition and innovation.