Vera Wang has sold her IP to New York brand management firm WHP Global. As part of the transaction, founder Vera Wang will join the latter as a shareholder to assist in the brand’s creative direction.
Established in 1990, Vera Wang was initially known for bridal wear. Since its launch, the brand has generated more than US$700 million in annual sales across categories such as women’s apparel, men’s tuxedos, fine jewellery, fragrance, and home products.
Commenting on the acquisition, Wang said the partnership perfectly aligns with her vision for the brand’s future.
“Together, we will push boundaries, exploring bold opportunities to expand into new categories and markets,” she added.
WHP Global said the acquisition strengthens its premium fashion vertical, joining brands like Rag & Bone, Joe’s Jeans, and G-Star. The company’s portfolio generates over $7 billion in annual global retail sales across fashion, sports, and hard goods.
“Vera Wang is a legend. Her name is synonymous with modernity, artistry and impeccable style,” said Yehuda Shmidman, chairman and CEO, WHP Global.
“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 next year. Financial terms of the transaction were not disclosed.
Solomon Partner served as financial advisor to Vera Wang.
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