Centric Brands and WHP Global Partner to Acquire Joe’s Jeans

Centric Brands and WHP Global have announced an agreement to purchase the Joe’s Jeans brand. As part of the agreement, WHP will own the worldwide intellectual property in all global territories other than China and Centric will continue to operate Joe’s Jeans under a long-term exclusive license for its core categories and geographies across retail, wholesale and e-commerce channels.

Founded in 2001, Joe’s Jeans creates products for men, women and kids including denim, apparel and accessories. The products are available at department stores in the U.S., at specialty boutiques globally, 10 Joe’s Jeans stores and at Joesjeans.com. This year, Joe’s Jeans is celebrating its 20th anniversary.

“We have significantly invested in Joe’s Jeans throughout our years of operation and have established the brand as one of the leading premium denim resources,” says Jason Rabin, chief executive officer, Centric Brands. “Celebrating its 20th 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 lifestyle brand collective that designs, sources, markets and sells products in kids’, men’s and women’s apparel, accessories, beauty and entertainment categories. The company’s portfolio includes more than 100 owned and licensed iconic brands collectively generating approximately $2.5B in annual global sales.

“The acquisition of Joe’s Jeans in partnership with Centric is a win for WHP Global as it expands our growing fashion vertical which already includes Anne Klein and Joseph Abboud,” says Yehuda Shmidman, chairman and chief executive officer, WHP Global. “Together with Centric, we will look to build upon the core business and expand around the world to new geographies.”

WHP Global is a New York-based brand acquisition and management firm backed by equity capital from funds managed by Oaktree Capital Management and leverage financing provided by BlackRock. Following the close of the transaction, WHP’s portfolio – including Joe’s Jeans, William Rast, Toys“R”Us, Babies“R”Us, Anne Klein, Joseph Abboud and Lotto – will collectively generate approximately $4 billion in annual global retail sales.