, a global brand management firm, have announced that WHP will purchase a controlling 70% interest in fashion brand, Isaac Mizrahi.
The transaction, valued at $68 million, includes $46.2 million in cash proceeds to Xcel, which will retain a 30% minority interest in the Isaac Mizrahi brand. Under the terms of a services agreement with WHP Global, Xcel will continue to manage the QVC business with WHP Global and has entered into a new license agreement to design and distribute Isaac Mizrahi apparel in the U.S. and Canada.
“The Isaac Mizrahi business has grown for 12 years straight under Xcel’s stewardship, and we’re pleased to now partner with WHP to continue the brand’s global momentum,” says Robert W. D’Loren, chairman and chief executive officer, Xcel Brands. “Selling a majority interest in the Isaac Mizrahi brand is a transformative moment in Xcel’s history and represents
“I’m very excited to harness the power of my brand,” says Mizrahi. “I couldn’t ask for better partners.”
With the addition of Isaac Mizrahi, WHP Global owns and manages more than $4.2 billion in retail sales across its portfolio of brands, making it one of the largest and fastest-growing brand management firms in the world.
“We are excited to partner with Isaac and Xcel as we work together to architect and orchestrate the next phase of growth for the Isaac Mizrahi fashion house,” says Yehuda Shmidman, chairman and chief executive officer, WHP Global. “We see meaningful opportunities to expand the brand by leveraging WHP Global’s platform and the reach of our fashion vertical, which now includes Anne Klein, Joseph Abboud, Joe’s Jeans, William Rast and Isaac Mizrahi.”
The Isaac Mizrahi brand features a variety of product categories, including sportswear, footwear, handbags, watches, eyewear, tech accessories, home and other merchandise. The brand is available across various distribution channels, including department stores such as Saks Fifth Avenue and Hudson’s Bay, interactive television, including QVC and The Shopping Channel, national specialty retailers and internationally in Canada, Italy, the U.K. and Japan.
Read more about:
Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes, it’s completely free.