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WHP International has acquired the mental property of Vera Wang, the style working and licensing firm introduced Monday. WHP additionally owns Bonobos, Rag & Bone and Anne Klein.
Monetary phrases weren’t disclosed. As a part of the deal, Vera Wang will proceed to function founder and chief inventive officer of the model, and joins WHP International as a shareholder.
The label generates over $700 million in annual gross sales throughout ready-to-wear, bridal, jewelry, house and different classes. In an announcement, the designer mentioned she anticipate coming into new classes and markets underneath WHP.
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