Dive Brief:
- WHP Global is buying the intellectual property of the Vera Wang fashion brand, according to a Monday press release.
- Founder and Chief Creative Officer Vera Wang will continue in her role and she will become a shareholder in WHP Global, per the release.
- The deal is expected to close next month, and financial terms weren’t disclosed.
Dive Insight:
WHP Global is positioning the deal as a pivotal moment for the fashion vertical of its business.
Earlier this year, the firm partnered with Guess to acquire Rag & Bone. WHP also bought a majority interest in G-Star Raw in 2023. Its other fashion holdings include Joe’s Jeans, Express, Bonobos and Anne Klein. Its entire portfolio generates $7 billion in global retail sales, per WHP.
Wang said WHP Global’s approach aligns with her 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,” Wang said in the release.
Wang founded her label as a bridal brand in 1990 before expanding to ready-to-wear in 2000. Prior to starting her business, she had stints as an editor at Vogue and as a design director at Ralph Lauren. Her eponymous brand includes women’s apparel, bridal, men’s tuxedos and suiting, jewelry, fragrance and home.
Wang had been the sole owner of the label since its launch, and the brand generates more than $700 million in annual retail sales across its lines, per the release.
Vera Wang has also partnered with Kohl’s and David’s Bridal on diffusion lines.
