Anne Klein is acquired by WHP Global
By Robyn Turk
Jul 18, 2019
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.