Nine West to acquire Kasper Group

Nine West Holdings has entered into a definitive agreement to acquire the Kasper Group as it looks to expand its brand portfolio, which already includes Nine West, Anne Klein and Gloria Vanderbilt.

The company revealed that it used the net proceeds from the December 2016 sale of its Easy Spirit wholesale business to purchase the Kasper Group. Both companies are currently separate portfolio companies of Sycamore Partners, which purchased Kasper Group in April 2014.

The terms of the Kasper Group transaction were not disclosed, just that the acquisition is expected to close during January 2017.

Kasper Group is known for its affordable, wear-to-work tailored clothing through design, contract manufacturing and sells suits, dresses, and sportswear for women. Its apparel is sold under its flagship Kasper and other well-known brand names, through wholesale distribution channels, including specialty and department stores and mass merchandisers.

"We are pleased to welcome the Kasper Group to Nine West Holdings. The Kasper Group is a well-known leader in the women's sportswear market," said Ralph Schipani, interim chief executive of Nine West Holdings. "The Kasper Group is a profitable wholesale business that we anticipate will make a positive impact on the Company's financial performance.”

Schipani added: “This acquisition of Kasper's reputable branded apparel will enable Nine West Holdings to offer its customers an array of women's affordable, wear-to-work tailored clothing, footwear, and accessories."