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WHP World, a number one model administration agency based mostly in New York, has introduced the profitable acquisition of the mental property (IP) of the enduring VERA WANG style model. This milestone follows the firm’s announcement final December concerning its settlement to amass the model’s IP.
As a part of the transaction, Vera Wang will proceed in her position as Founder & Chief Inventive Officer, guaranteeing her inventive imaginative and prescient stays central to the model’s future. Moreover, Wang will preserve her place as a shareholder in WHP World, highlighting her ongoing dedication to the model’s progress and evolution.
WHP World’s portfolio options greater than 14 distinguished client manufacturers, collectively driving over $7 billion in annual world retail gross sales. Spanning a variety of sectors—together with style, sports activities, and laborious items—this numerous portfolio solidifies WHP World’s place as a frontrunner within the model administration business.
The acquisition marks a transformative second for WHP World, establishing a brand new premium style vertical alongside different famend names akin to rag & bone, Joe’s Denims, and G-STAR.
The transaction is topic to customary closing circumstances and is predicted to shut in January 2025. Monetary phrases of the transaction weren’t disclosed. Solomon Companions, L.P. acted as monetary advisor to Vera Wang.
Legacy and Progress: The Subsequent Period of the VERA WANG Model
Based in 1990, VERA WANG is a world chief within the style business and a defining authority in bridal. Vera Wang started her style profession as an editor at American VOGUE and, after twenty years, went on to change into a design director at Ralph Lauren. Right now, her eponymous model generates over $700 million in annual retail gross sales throughout classes together with ladies’s attire, bridal, males’s tuxedos and suiting, wonderful jewelry, perfume, and residential.
VERA WANG’s designs have adorned a number of the world’s most iconic names, together with Ariana Grande, Beyoncé, Hailey Bieber, Kim Kardashian, and Zendaya, solidifying its standing as a world luxurious powerhouse.
In a press release, Vera Wang expressed her enthusiasm for the partnership, calling it a major milestone within the evolution of the VERA WANG model. “I’m so excited to announce this new partnership with WHP World as we embark on an unbelievable new chapter for the VERA WANG model, which I started over 30 years in the past,” she stated.
Wang praised WHP World’s revolutionary strategy, stating, “WHP World’s forward-thinking strategy completely aligns with my imaginative and prescient for the long run. Collectively, we are going to push boundaries, exploring daring alternatives to broaden into new classes and markets, all whereas staying true to the legacy of timeless sophistication and the distinctive type that defines VERA WANG.”
This partnership goals additional to cement the model’s affect within the style business and open the door to growth into untapped markets and product classes.
WHP World’s Increasing Portfolio
WHP World is a number one New York-based agency that acquires world client manufacturers and invests in high-growth distribution channels, together with digital commerce platforms and worldwide growth. WHP World owns a portfolio of client manufacturers that collectively generate over $7 billion in world retail gross sales. The corporate additionally owns WHP+, a turnkey direct-to-consumer digital e-commerce platform, and WHP SOLUTIONS, an Asian sourcing company.
Yehuda Shmidman, Chairman & CEO of WHP World, talked about, “Vera Wang is a legend. Her identify is synonymous with modernity, artistry and impeccable type. We’re honoured to accomplice with Vera Wang and sit up for constructing on the model’s outstanding legacy with new enterprise alternatives around the globe.”.
This acquisition marks a major milestone for each WHP World and the VERA WANG model. By combining WHP World’s business experience with Vera Wang’s unparalleled inventive imaginative and prescient, the partnership is poised to raise the model’s world presence and broaden its affect within the style world. Collectively, they intention to proceed delivering revolutionary designs that encourage customers worldwide.
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