- Robyn Turk
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Premier Brands Group has sold U.S.-based apparel brand Anne Klein a
new brand management platform, WHP Global. Founded by founder of Wave
Hill Partners, Yehuda Shmidman, WHP Global launched on Wednesday with
Anne Klein as its first acquisition.
According to a press release, WHP Globla’s mission is to “represent
the future of brand management.” It plans to acquire global consumer
brands to then strategically reposition with high-growth distribution
channels, global e-commerce platforms, and the introduction of new
product categories.
Anne Klein generates over 700 million dollars annually through global
sales. Its footwear and handbag product lines are distributed through
a partnership with Steve Madden, its sportswear through the Kasper
Group and its watches with E. Gluck.
“The Anne Klein brand is in good hands, and we are excited to continue
our involvement as a long-term licensee for multiple categories
including sportswear and jewelry,” said Ralph Schipani, CEO of Anne
Klein’s former parent company Premier Brands Group. “The divestiture
aligns with our focus of being a leading wholesaler of women’s
apparel, jeanswear, and accessories to major U.S. and international
retailers.”
WHP Global is backed by a 200 million dollar equity investment from
funds managed by Oaktree Capital Management, L.P.
