The Chinese-American designer announced that she was selling her brand to the New York-based WHP Global group, a major brand manager. However, she retains creative control of her brand and becomes a shareholder in the WHP Global group.
It was “the right partner at the right time”, as she explained to Vogue Business.
Vera Wang has just sold WHP Global the intellectual property of the high-end fashion brand bearing her name, which has just celebrated its 35th anniversary. For the Chinese-American designer, this is not only her 55th year in fashion, but also her own 75th birthday.
Founded in 2019 in New York (where Vera Wang is also based) and financed by private equity funds, WHP Global manages and develops, notably via licenses, renowned consumer brands, notably in fashion, sports and stationery. It also owns the Toys R Us children’s retailer and the Express shopping mall chain. The company generates over $7 billion in annual retail sales worldwide.
Vera Wang still at the creative helm
Although Vera Wang is handing over her brand, she will remain actively involved in its management. As Founder and Creative Director, she will continue to oversee the creative vision and growth of her House.
Discover our plans Subscribe for 1€ Become an active member of the community of luxury leaders.
To continue reading this article, subscribe or log in to your account
Read also > LVMH sells Thomas Pink to CP Brands Group and Icon Luxury Group
Featured Photo: © Vera Wang
