Wang Continues as Chief Creative Officer at Her Brand Under the Company’s New Ownership
WHP Global, a New York-based brand management firm, has announced its acquisition of the intellectual property of the Vera Wang brand. Vera Wang will remain integral to the brand she founded over three decades ago, continuing as the chief creative officer and joining WHP Global as a shareholder.
Financial details of the transaction were not disclosed.
Vera Wang expressed enthusiasm about the acquisition, stating, “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 standing true to the legacy of timeless sophistication and the distinctive style that defines Vera Wang.”
Yehuda Shmidman, chairman and chief executive officer of WHP Global, commented on the partnership, saying, “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.”
Vera Wang has been a prominent figure in the fashion industry, particularly known for her influence in bridal fashion since she launched her brand in 1990. Her career began as an editor at Vogue, followed by a stint as a designer at Ralph Lauren before starting her own brand. Today, her brand generates over $700 million annually in retail sales across various categories, including women’s apparel, bridal wear, men’s tuxedos and suiting, fine jewelry, fragrance, and home products. Her designs are favored by celebrities such as Ariana Grande, Beyoncé, Hailey Bieber, Kim Kardashian, and Zendaya.
Wang’s flagship salon, opened in 1990 at The Carlyle hotel in New York, marked a significant shift in how bridal business was conducted. Her contributions to fashion were recognized last year when she received the CFDA Board of Directors’ Tribute Award.
The acquisition by WHP Global, whose portfolio exceeds $7 billion in annual global retail sales across various sectors, positions the Vera Wang brand within its new premium vertical alongside other high-profile brands like Rag & Bone, Joe’s Jeans, and G-Star.
The transaction is scheduled to close in January, with Solomon Partners L.P. serving as the financial adviser to Wang.