#United States #New York #WHP Global #Vera Wang #fashion brand

Vera Wang Partners with WHP Global for Strategic Expansion

In a significant move for the fashion industry, WHP Global, a prominent brand management firm based in New York, has entered into an agreement to acquire the intellectual property of the renowned Vera Wang fashion brand. This partnership not only allows WHP Global to strengthen its portfolio but also ensures that Vera Wang continues her influential role as the Founder and Chief Creative Officer of her eponymous brand. With this agreement, she will also become a shareholder in WHP Global, securing an active role in shaping the creative direction and future trajectories of the brand.

Vera Wang expressed her excitement regarding this new partnership, stating, “I am thrilled to announce this collaboration with WHP Global as we embark on a remarkable new chapter for the Vera Wang brand, which I started over 30 years ago.” She emphasized that WHP Global's innovative approach aligns perfectly with her vision for the future of the brand. Together, they aim to explore new opportunities, expand into different markets, and remain true to the heritage of sophistication that Vera Wang is known for.

Yehuda Shmidman, Chairman and CEO of WHP Global, acknowledged Vera Wang's legendary status in the fashion world, referring to her as a name synonymous with modernity and impeccable style. Shmidman expressed his eagerness to partner with Wang, aiming to build upon her outstanding legacy and explore new business avenues on a global scale.

The acquisition marks a pivotal point for WHP Global as it establishes a new premium fashion vertical alongside existing brands like rag & bone, Joe's Jeans, and G-STAR. This move is projected to significantly boost WHP Global's considerable portfolio, which already generates over $7 billion in annual retail sales across various sectors, including fashion, sports, and hardgoods.

Founded in 1990, the Vera Wang brand has not only set trends in the fashion industry but has also transformed the bridal sector. With a background as a fashion editor at American Vogue and later as a design director at Ralph Lauren, Vera Wang has established her brand as an industry leader, generating over $700 million in annual sales across numerous categories, including women's apparel, bridal wear, men's suits, fine jewelry, fragrances, and home decor. The brand's designs have graced many high-profile celebrities, cementing its position as a luxurious choice worldwide.

The transaction is expected to finalize in January 2025, pending customary closing conditions. Financial details of the agreement have not been disclosed publicly. Solomon Partners, L.P. acted as the financial advisor for Vera Wang during this strategic transaction.

As high-profile partnerships like this reshape the fashion landscape, both WHP Global and Vera Wang remain at the forefront of innovation, poised to achieve new heights in the retail market. The combination of Vera Wang's creative genius and WHP Global's brand management expertise could signify not only growth for their own brands but also a transformative era in premium fashion.

About Vera Wang

A native New Yorker and a fixture in the fashion industry, Vera Wang has been a trailblazer since she opened her flagship bridal salon at the Carlyle Hotel in New York City in 1990. What began as a revolutionary approach to wedding fashion has now evolved into a comprehensive lifestyle brand that encompasses a diverse range of products, from ready-to-wear apparel to home goods and celebrity styling.

About WHP Global

WHP Global operates as a leading firm in New York, specializing in acquiring and managing global consumer brands. The company invests in high-growth channels, including digital commerce and international expansion, boasting a diverse portfolio that generates over $7 billion in retail sales.

With both brands poised for collaboration, this partnership epitomizes the potential for growth and innovation within the ever-evolving world of fashion.