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WHP World, a number one model administration agency primarily based in New York, has introduced the profitable acquisition of the mental property (IP) of the enduring VERA WANG trend 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 Artistic Officer, guaranteeing her artistic 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 outstanding client manufacturers, collectively driving over $7 billion in annual world retail gross sales. Spanning a variety of sectors—together with trend, 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 trend vertical alongside different famend names equivalent to rag & bone, Joe’s Denims, and G-STAR.
The transaction is topic to customary closing circumstances and is anticipated 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 trend business and a defining authority in bridal. Vera Wang started her trend profession as an editor at American VOGUE and, after twenty years, went on to turn into a design director at Ralph Lauren. In the present day, 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, advantageous jewelry, perfume, and residential.
VERA WANG’s designs have adorned among 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 an announcement, Vera Wang expressed her enthusiasm for the partnership, calling it a big 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 unimaginable new chapter for the VERA WANG model, which I started over 30 years in the past,” she mentioned.
Wang praised WHP World’s progressive strategy, stating, “WHP World’s forward-thinking strategy completely aligns with my imaginative and prescient for the longer term. Collectively, we’ll 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 fashion that defines VERA WANG.”
This partnership goals additional to cement the model’s affect within the trend business and open the door to enlargement 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 enlargement. 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 fashion. We’re honoured to accomplice with Vera Wang and stay up for constructing on the model’s outstanding legacy with new enterprise alternatives world wide.”.
This acquisition marks a big milestone for each WHP World and the VERA WANG model. By combining WHP World’s business experience with Vera Wang’s unparalleled artistic imaginative and prescient, the partnership is poised to raise the model’s world presence and broaden its affect within the trend world. Collectively, they goal to proceed delivering progressive designs that encourage shoppers worldwide.
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