Dec 16, 2024 - Business

Vera Wang agrees to be acquired

Dan Primack

WHP Global, a brand management firm backed by private equity, on Monday announced an agreement to buy wedding dress brand Vera Wang.

Why it matters: Wang is iconic, generating around $800 million in annual sales, and has licensed out its brand for an array of other products.

Its namesake designer reportedly would remain with her company as chief creative officer, and become a WHP shareholder.

Details: WHP Global investors include Oaktree Capital Management and Ares Management.

The bottom line: WHP is better known for buying companies in positions of weakness (e.g., Bonobos, Toys "R" Us, Express Group), so this appears to be an outlier. It also should pique the interest of IPO bankers.

Add Axios on Google

Vera Wang agrees to be acquired

What to read next