Iconic fashion designer Vera Wang has revealed selling her intellectual property, her eponymous brand to WHP Global, according to reports. The designer will continue heading the label’s creative endeavours by becoming a shareholder of WHP Global.
As part of the deal, WHP Global will acquire the intellectual property rights to the Vera Wang brand. The landmark deal also mentions that Vera Wang will continue to be the Founder and Chief Creative Officer for the apparel line as a shareholder of the branding firm. This strategic move will allow her to continue driving the brand’s creative vision and leverage WHP Global’s expertise in brand management and global distribution.
Since its inception in 1990, Vera Wang has redefined bridal wear and expanded into various fashion categories, including ready-to-wear, menswear, fine jewellery, and home goods. The brand has consistently generated significant revenue, exceeding US $ 700 million in annual sales.
Vera Wang expressed that she is thrilled with this partnership and that together they will explore the brand’s expansion and go global with more innovation products, the reports added.
Chairman and CEO of WHP Global, Yehuda Shmidman, also expressed his enthusiasm about the partnership, stating, the iconic designer is a “true visionary” and a “cultural icon”.
New York-based WHP Global is one of the leading brand management firms that indulges in retail, distribution and e-commerce aspects of business. It currently has a diverse portfolio across different industries including brands like G-Star Raw, Express, Bonobos, Rag & Bone, Anne Klein, Joe’s Jeans, Joseph Abboud, Isaac Mizrahi, and Warners.
The acquisition deal is expected to close in January 2025, pending customary approvals. Financial terms have not been released.
