US-based luxury fashion brand, Vera Wang, has sold its IP to WHP Global, the brand management firm based in New York. Vera Wang will continue as Chief Creative Officer and will join WHP Global as a shareholder.
You may know Vera Wang thanks to its world-famous bridal offering. But, did you know Wang began her career as an Editor at American Vogue? Two decades later she was appointed Design Director at Ralph Lauren before establishing her eponymous brand in 1990. Today, it generates over £550 million ($700 million) in annual retail sales across categories including women’s apparel, bridal, men’s tuxedos, jewellery, fragrance and home.
Vera Wang, renowned for her luxury bridal range, said: “I am so excited to announce this new partnership with WHP Global as we embark on an incredible new chapter for the Vera Wang brand, which I began over 30 years ago.
“WHP Global’s forward-thinking approach perfectly aligns with my 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.”
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- Vera Wang Campaign 2024
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- Vera Wang
The acquisition represents a pivotal moment for WHP Global. It’s in the process of anchoring its new premium fashion vertical, which will see Vera Wang join its portfolio of brands including Rag & Bone, Joe’s Jeans and G-STAR. WHP Global’s total portfolio generates over £5.5 billion ($7 billion) in global retail sales annually across fashion, sports and more.
Yehuda Shmidman, Chairman & CEO of WHP Global, added: “Vera Wang is a legend. Her name is synonymous with modernity, artistry and impeccable style. We are honoured to partner with Vera Wang and look forward to building on the brand’s remarkable legacy with new business opportunities around the world.”
The transaction is subject to customary closing conditions and is expected to close in January 2025. Financial terms of the transaction were not disclosed.
Solomon Partners, L.P. acted as financial advisor to Vera Wang.
