On December 16, New York-based brand management firm WHP Global announced an agreement to acquire the intellectual property (IP) of the VERA WANG brand, led by renowned fashion designer Vera Wang.
Under the agreement, Wang will continue in her role as Founder and Chief Creative Officer (CCO), overseeing the brand’s design and creative direction. Additionally, Wang will join WHP Global as a shareholder, taking on a key role in accelerating the brand’s future growth.
In the statement, Wang expressed, “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.” She continued, “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.”
The VERA WANG brand began in 1990 with the opening of its first bridal salon at the Carlyle Hotel in New York. Wang herself started her career as an editor at the American edition of Vogue before becoming Design Director at Ralph Lauren and subsequently launching her eponymous brand.
Over the years, the brand has expanded beyond bridal to include women’s wear, men’s formalwear, jewelry, fragrance, and home décor, growing into a global powerhouse with annual retail sales exceeding $700 million. The brand’s designs have been chosen by iconic celebrities such as Beyoncé, Zendaya, and Ariana Grande, cementing VERA WANG’s position as a leading name in luxury fashion through its distinctive style and innovative vision.
For WHP Global, which already manages brands like rag & bone, Joe’s Jeans, and G-Star, the acquisition of VERA WANG is a strategic move to bolster its premium fashion portfolio. WHP Global’s portfolio collectively generates over $7 billion in annual global retail sales across fashion, sports, and hard goods.
Yehuda Shmidman, CEO of WHP Global, commented, “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 transaction is expected to close in January 2025. By combining Wang’s creative vision with WHP Global’s strategic business approach, the brand is poised to accelerate its expansion into new markets and categories, further solidifying its global presence.