WHP Global announced on Monday an agreement to acquire the intellectual property of the Vera Wang fashion brand.

As part of the agreement, Vera Wang will continue her role as founder & chief creative officer and will also join WHP Global as a shareholder. In this capacity, Wang will continue to lead the brand’s creative direction while driving its future growth.

The transaction, subject to customary closing conditions, is expected to finalize in January 2025. Financial terms of the agreement were not disclosed.

“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. 

“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.”

Founded in 1990, Vera Wang has become a global leader in fashion and in bridal design. Her career began as an editor at American Vogue before becoming a design director at Ralph Lauren. Today, the brand generates over $700 million in annual retail sales across women’s apparel, bridal, men’s formalwear, fine jewelry, fragrance, home décor, and other categories.

The acquisition represents a significant milestone for WHP Global as it launches a premium fashion vertical alongside Rag & Bone, Joe’s Jeans, and G-Star. WHP Global’s portfolio currently generates over $7 billion in annual global retail sales across fashion, sports, and hardgoods.

“Vera Wang is a legend. Her name is synonymous with modernity, artistry and impeccable style. 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,” added Yehuda Shmidman, chairman and CEO of WHP Global.