Centric Brands and WHP Global Partner to Acquire Joe’s Jeans
NEW YORK–(COMMERCIAL THREAD) –Centered brands LLC (the “Company”) and Global WHP (âWHPâ) announced today that it has signed a definitive agreement and received court approval to purchase the Joe’s Jeans brand, which will be subject to customary closing conditions. As part of the agreement, WHP will own global intellectual property in all global territories other than China and Centric will continue to operate Joe’s Jeans under an exclusive long-term license for their major categories and geographies in retail. , wholesale and e-commerce. canals.
Founded in 2001, Joe’s Jeans redefined premium denim with its inherently LA sensibility and distinctive take on it. With a focus on integrating technology into design, the brand creates products for men, women and children that are innovative and perfectly fitted. Joe’s Jeans offers denim, apparel and accessories and is available at high-end department stores in the United States, specialty stores around the world, 10 Joe’s Jeans stores, and the digital flagship store. www.joesjeans.com. This year Joe’s Jeans is celebrating its 20th anniversary and is supported by strong demand for e-commerce, trendy cuts in Kinetic denim for women and men.
âWe have made significant investments in Joe’s Jeans throughout our years of operation and have established the brand as one of the premier premium denim resources,â said Jason Rabin, CEO of Centric Brands. “Celebrate its 20e year, we look forward to partnering with WHP Global to further develop the brand and new avenues to grow the business.
Centric Brands is a global collective of lifestyle brands that designs, researches, markets and sells high quality products in the categories children, men’s and women’s clothing, accessories, beauty and entertainment. The company’s portfolio includes more than 100 iconic brands owned and licensed collectively generating approximately $ 2.5 billion in annual global sales.
âThe acquisition of Joe’s Jeans in partnership with Centric is a victory for WHP Global as it expands our growing fashion vertical which already includes ANNE KLEIN and JOSEPH ABBOUD,â said Yehuda Shmidman, President and CEO of WHP Global. âTogether with Centric, we will seek to develop our core business and expand into new geographic areas around the world. ”
WHP Global is a leading New York-based brand management and acquisition company backed by equity capital from funds managed by Oaktree Capital Management, LP and leveraged financing provided by BlackRock. After the transaction closes, WHP’s portfolio – comprising Joe’s Jeans, William Rast, Toys “R” Us, Babies “R” Us, Anne Klein, Joseph Abboud and Lotto – will collectively generate approximately $ 4 billion in retail sales. global annuals.
About Centric Brands LLC
Centric Brands LLC is a collective of leading lifestyle brands that designs, sources, markets and sells high-quality products in children’s, men’s and women’s apparel, accessories, beauty and entertainment categories. The company’s portfolio includes licenses for over 100 iconic brands, including Calvin KleinÂ®, Tommy HilfigerÂ®, NauticaÂ®, SpyderÂ® and Under ArmourÂ® in the children’s category; Joe’s JeansÂ®, BuffaloÂ®, HervÃ© LÃ©gerÂ® and IzodÂ® in the men’s and women’s clothing category; Kate SpadeÂ®, Michael KorsÂ®, All SaintsÂ®, FryeÂ®, TimberlandÂ®, Kenneth ColeÂ® and Jessica SimpsonÂ® in the accessories category; and in the entertainment category, DisneyÂ®, MarvelÂ®, NickelodeonÂ® and Warner BrothersÂ® among many others. The Company also owns and operates brands such as Zac PosenÂ®, HudsonÂ®, Robert GrahamÂ®, AvirexÂ® and Taste BeautyÂ® and operates a joint venture brand, Favorite Daughter, with Sara and Erin Foster. The Company’s products are sold primarily in North America through large mass market retailers, specialty stores and department stores, and online. Centric Brands LLC has unmatched expertise in product design, development and sourcing, retail and digital, marketing and brand building. The company is headquartered in New York, with US offices in Los Angeles and Greensboro, and international offices in London, Toronto and Montreal. For more information on Centric Brands, please visit www.centricbrands.com.
About WHP Global
WHP Global is a leading New York-based company acquiring global consumer brands and investing in high-growth distribution channels including digital commerce platforms and global expansion. WHP owns ANNE KLEINÂ®, JOSEPH ABBOUDÂ®, LOTTOÂ® and a majority stake in TOYS “R” USÂ®, BABIES “R” USÂ®, GeoffreyÂ® the giraffe and over 20 other consumer brands in the toy and baby categories. In addition, WHP has signed a definitive agreement for the acquisition of JOE’S JEANSÂ® and WILLIAM RASTÂ®. The company also owns WHP + (www.whp-plus.com), a turnkey consumer digital e-commerce platform for brands, with full internal operations including technology, data analytics, logistics, creative and digital marketing. For more information, please visit www.whp-global.com.