NEW YORK–(COMMERCIAL WIRE)–Xcel Manufacturers, Inc. (NASDAQ: XELB) (“Xcel” or the “Firm”), a media and client merchandise firm with intensive expertise in stay tv and on-line buying, and WHP World (” WHP”), a number one international model administration firm, immediately introduced that WHP will purchase a 70% majority stake in trend model Isaac Mizrahi.
The transaction, valued at $68 million, contains $46.2 million in money proceeds for Xcel, which can retain a 30% minority curiosity within the Isaac Mizrahi model. Underneath the phrases of a companies settlement with WHP World, Xcel will proceed to handle QVC’s enterprise with WHP World and has entered into a brand new license settlement to design and distribute Isaac Mizrahi clothes within the US and Canada.
Isaac Mizrahi is an iconic trend model that celebrates timeless, cosmopolitan type. Isaac Mizrahi, the American designer, launched his namesake model in 1987 to essential acclaim, happening to win 4 CFDA Awards from the Council of Style Designers of America. Isaac’s designs have been seen on influential girls similar to Michelle Obama, Oprah Winfrey, Audrey Hepburn, Meryl Streep, Rihanna, Julia Roberts, Anne Hathaway, Kate Hudson, Selma Blair, Naomi Campbell, Kate Moss, and Carla Bruni. The Isaac Mizrahi model has generated greater than $1 billion in retail gross sales since its founding and immediately ranks among the many high trend manufacturers on QVC.
“Isaac Mizrahi’s enterprise has grown for 12 straight years below Xcel’s stewardship and we’re happy to now associate with WHP to proceed the model’s international momentum,” stated Robert W. D’Loren, president and CEO of Xcel Manufacturers. . “Promoting a majority stake within the Isaac Mizrahi model is a transformative second in Xcel’s historical past and represents the primary time we have now monetized one in every of our manufacturers since Xcel was based in 2011. Xcel is now debt free, with over $17 million in money and $22 million of working capital on our stability sheet, which can assist drive a lot of our upcoming strategic initiatives as we focus our sources on rising our manufacturers, launching new manufacturers and investing in streaming expertise platforms and partnerships stay”.
Isaac Mizrahi, who will proceed to function design director for his namesake model, stated, “I’m very excited to harness the ability of my model. I could not ask for higher companions.”
With the addition of Isaac Mizrahi, WHP World owns and manages greater than $four.2 billion in retail gross sales throughout its portfolio of manufacturers, making it one of many largest and quickest rising model administration corporations on the earth.
Yehuda Shmidman, President and CEO of WHP World, said: “We’re excited to associate with Isaac and Xcel as we work collectively to design and orchestrate the subsequent section of progress for trend home Isaac Mizrahi. We see vital alternatives to develop the model by leveraging WHP World’s platform and the attain of our trend vertical, which now contains Anne Klein, Joseph Abboud, Joe’s Denims, William Rast and Isaac Mizrahi.”
The Isaac Mizrahi model options quite a lot of product classes, together with sportswear, footwear, baggage, watches, eyewear, tech equipment, residence and different merchandise. The model is obtainable by means of numerous distribution channels, together with high department shops similar to Saks Fifth Avenue and Hudson’s Bay; interactive tv, together with QVC and The Procuring Channel; specialty nationwide retailers; and internationally in Canada, Italy, UK and Japan.
Xcel Manufacturers Convention Name and Webcast
Xcel Manufacturers will host a convention name with members of its government administration staff to debate the main points of this transaction at four:30 pm ET on Could 31, 2022. A webcast of the convention name will likely be out there stay. within the Investor Relations part of the Xcel web site. at www.xcelbrands.com. events unable to entry the convention name by way of webcast could dial 877-407-3982. A replay of the convention name will likely be out there by means of June 14, 2022 and may be accessed by calling 844-512-2921 utilizing replay pin 13730344.
About WHP World
WHP World is a number one New York-based firm that acquires international client manufacturers and invests in high-growth distribution channels, together with digital commerce platforms and international enlargement. WHP owns ANNE KLEIN®, JOSEPH ABBOUD®, JOE’S JEANS®, WILLIAM RAST®, LOTTO®, TOYS”R”US® and BABIES”R”US®, in addition to a majority curiosity within the ISAAC MIZRAHI® model. Collectively, the manufacturers generate greater than $four.2 billion in international retail gross sales. The corporate additionally owns WHP+, a turnkey direct-to-consumer digital e-commerce platform for manufacturers, with full in-house operations together with expertise, knowledge analytics, logistics, artistic and digital advertising and marketing, and WHP SOLUTIONS, a sourcing company with headquartered in Asia. For extra info, go to www.whp-global.com.
About Xcel Marks
Xcel Manufacturers, Inc. (NASDAQ: XELB) is a media and client merchandise firm engaged within the design, manufacturing, advertising and marketing, stay streaming, wholesale distribution and direct-to-consumer gross sales of attire, footwear, equipment, superb jewellery and model title homewares. and different client merchandise, and the acquisition of dynamic client way of life manufacturers. Xcel was based in 2011 with a imaginative and prescient to reinvent buying, leisure, and social media as one. Xcel owns the Judith Ripka, Halston, LOGO by Lori Goldstein and C. Marvel manufacturers and a minority curiosity within the Isaac Mizrahi model. It additionally owns and manages the Longaberger model by means of its majority curiosity in Longaberger Licensing LLC. Xcel is pioneering a real omnichannel gross sales technique that features selling and promoting merchandise below its manufacturers by means of interactive tv, stay digital buying, bodily shops and e-commerce channels. The corporate’s manufacturers have generated greater than $three billion in retail gross sales by means of stay streaming on interactive tv and digital channels alone.
Headquartered in New York Metropolis, Xcel Manufacturers is led by an government staff with vital expertise in stay streaming, manufacturing, merchandising, design, advertising and marketing, retail and licensing, and has a confirmed monitor report of success in enhancing branded client merchandise firms. With an skilled staff of pros centered on design, manufacturing, and digital advertising and marketing, Xcel maintains management of product high quality and promotion throughout all of its product classes and distribution channels. Xcel is completely different by design. xcelbrands.com