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WHP Global has acquired the intellectual property of Vera Wang, the fashion operating and licensing company announced Monday. WHP also owns Bonobos, Rag & Bone and Anne Klein.
Financial terms were not disclosed. As part of the deal, Vera Wang will continue to serve as founder and chief creative officer of the brand, and joins WHP Global as a shareholder.
The label generates over $700 million in annual sales across ready-to-wear, bridal, jewellery, home and other categories. In a statement, the designer said she anticipate entering new categories and markets under WHP.
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