WHP Global has announced a landmark deal to acquire the intellectual property of fashion brand Vera Wang. The transaction marks a significant milestone for WHP Global as it establishes a premium fashion vertical, adding Vera Wang to its portfolio alongside other brands. recognized as Rag & Bone, Joe's Jeans and G-STAR.
WHP Global has announced the acquisition of the intellectual property of fashion brand Vera Wang, marking a major milestone as it builds a premium fashion vertical alongside brands such as Rag & Bone and G-STAR. Vera Wang will remain founder and creative director and will join as a shareholder. The deal, expected to close in January 2025, strengthens WHP Global's $7 billion portfolio in fashion and luxury.
The transaction, which remains subject to customary closing conditions, is expected to close in January 2025.
As part of the acquisition, Vera Wang will continue in her role as founder and creative director, ensuring her signature influence remains central to the brand's creative direction. Wang will also join WHP Global as a shareholder, a move that positions her to actively contribute to the brand's continued growth and innovation.
The acquisition is set to elevate WHP Global's portfolio, which together generates more than $7 billion in annual retail sales across fashion, sports and durable goods. This deal will also solidify Vera Wang's position as a luxury powerhouse and highlight WHP Global's dedication to expanding its presence in the premium fashion sector, the two entities said in a joint press release.
“I am very excited to announce this new partnership with WHP Global as we embark on an incredible new chapter for the VERA WANG brand, which I started over 30 years ago. WHP Global's progressive approach aligns perfectly with my vision for the future “Together, we will push the boundaries, exploring bold opportunities to expand into new categories and markets, while staying true to the legacy of timeless sophistication and distinctive style that defines VERA WANG,” he said. 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 extraordinary legacy with new business opportunities around the world.” Yehuda Shmidman, President and CEO of WHP Globalaggregate.
Financial terms have not been disclosed. Solomon Partners, LP served as financial advisor to Vera Wang.
Fiber2Fashion (HU) News Desk
