WHP World has acquired the mental property of Vera Wang, the style working and licensing firm introduced Monday. WHP additionally owns Bonobos, Rag & Bone and Anne Klein.
Monetary phrases weren’t disclosed. As a part of the deal, Vera Wang will proceed to function founder and chief artistic officer of the model, and joins WHP World as a shareholder.
The label generates over $700 million in annual gross sales throughout ready-to-wear, bridal, jewelry, house and different classes. In an announcement, the designer mentioned she anticipate coming into new classes and markets underneath WHP.
Study extra:
Model Licensing Offers: Contemporary Begin or Starting of the Finish?
Licensing companies have a fame for getting well-known however pale labels and milking them dry. Will Brooks Brothers, Barneys and others in chapter in the present day meet the identical destiny?
