New York-based brand management firm WHP Global has signed an agreement to acquire the intellectual property (IP) of the fashion brand Vera Wang.

As part of the agreement, the founder and chief creative officer of her eponymous brand Vera Wang will remain in her role and join WHP Global as a shareholder to further drive the brand’s future growth.

"I am so excited to announce this new partnership with WHP Global as we embark on an incredible new chapter for the Vera Wang brand, which I began over 30 years ago," said Vera Wang in a statement. "WHP Global's forward-thinking approach perfectly aligns with my vision for the future.”

“Together, we will push boundaries, exploring bold opportunities to expand into new categories and markets, all while staying true to the legacy of timeless sophistication and the distinctive style that defines Vera Wang."

Vera Wang SS24 campaign Credits: Vera Wang

The acquisition underlines WHP Global's growth within the fashion sector, as it serves as a cornerstone of the management firm’s new premium fashion category, with Vera Wang sitting alongside brands like Rag & Bone, Joe's Jeans, and G-Star. WHP Global’s entire portfolio drives over 7 billion dollars in annual global retail sales across fashion, sports, and hard goods.

"Vera Wang is a legend. Her name is synonymous with modernity, artistry, and impeccable style,” said Yehuda Shmidman, chairman and CEO of WHP Global, in a statement. “We are honored to partner with Vera Wang and look forward to building on the brand's remarkable legacy with new business opportunities around the world."

Founded in 1990 by New York native Vera Wang, her brand has grown to become a global fashion leader and a defining authority in bridal. After starting her career at American Vogue and serving as a design director at Ralph Lauren, Vera Wang launched her eponymous brand, now generating over 700 million dollars in annual retail sales. Spanning women's apparel, bridal, menswear, fine jewelry, fragrance, and home, her designs have graced icons including Ariana Grande, Beyoncé, Hailey Bieber, Kim Kardashian, and Zendaya.

The transaction will be subject to customary closing conditions and is expected to close in January 2025. Financial terms of the transaction were not disclosed. Solomon Partners, L.P. serves as financial advisor to Vera Wang.