VERA WANG SELECTS WHP GLOBAL FOR LANDMARK DEAL

Vera Wang Continuing with Active Role as Founder & Chief Creative Officer

Vera Wang to Become Shareholder of WHP Global

NEW YORK, Dec. 16, 2024 /PRNewswire/ -- WHP Global, a leading brand management firm based in New York, announced today an agreement to acquire the IP of the iconic VERA WANG fashion brand. As part of the transaction, Vera Wang will continue in her role as Founder & Chief Creative Officer and will join WHP Global as a shareholder, continuing to shape the brand's creative direction and future growth.

"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," said Vera Wang. "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."

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 honored to partner with Vera Wang and look forward to building on the brand's remarkable legacy with new business opportunities around the world."

The acquisition represents a pivotal moment for WHP Global, as it anchors a new premium fashion vertical together with rag & bone, Joe's Jeans, and G-STAR. WHP Global's total portfolio generates over $7 Billion in global retail sales annually across fashion, sports and hardgoods.

Founded in 1990, VERA WANG is a global leader in the fashion industry and a defining authority in bridal. Vera Wang began her fashion career as an editor at American VOGUE and, after two decades, went on to become a design director at Ralph Lauren. Today, her eponymous brand generates over $700 million in annual retail sales across categories including women's apparel, bridal, men's tuxedos and suiting, fine jewelry, fragrance, and home, among others. VERA WANG's designs have adorned some of the world's most iconic names, including Ariana Grande, Beyoncé, Hailey Bieber, Kim Kardashian, and Zendaya, solidifying its status as a global luxury powerhouse.

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.

ABOUT VERA WANG
Vera Wang, a native New Yorker who has spent her career at the forefront of fashion, initiated a radical change in the wedding industry in 1990 with the opening of her flagship salon at the Carlyle Hotel in New York. Today, the Vera Wang brand reflects her vision of creating a lifestyle that goes beyond bridal fashion and ready-to-wear, and extends to celebrity dressing, fragrances, accessories and home.

ABOUT WHP GLOBAL
WHP Global is a leading New York-based firm that acquires global consumer brands and invests in high-growth distribution channels including digital commerce platforms and global expansion. WHP Global owns a portfolio of consumer brands that collectively generate over $7 Billion in global retail sales. The company also owns WHP+, a turnkey direct to consumer digital e-commerce platform, and WHP SOLUTIONS, a sourcing agency based in Asia. For more information, please visit whp-global.com or follow @whp_global on social.

SOURCE WHP Global