Centric Brands and WHP Global Partner to Acquire Joe’s Jeans
Summary
As part of the agreement, WHP will own the worldwide intellectual property in all global territories other than China and Centric will continue to operate Joe’s Jeans under a long-term exclusive license for their core categories and geographies across retail, wholesale, and e-commerce channels. With an emphasis on incorporating technology into design, the brand creates product for men, women and kids that is innovative and fits flawlessly. This year, Joe’s Jeans is celebrating its 20th anniversary and is buoyed by strong Ecommerce demand, on-trend fits in women’s, and men’s Kinetic denim. The company’s portfolio includes over 100 owned and licensed iconic brands collectively generating approximately $2.5B in annual global sales. Following the close of the transaction, WHP’s portfolio - including Joe’s Jeans, William Rast, Toys“R”Us, Babies “R”Us, Anne Klein, Joseph Abboud, and Lotto - will collectively generate approximately $4 billion in annual global retail sales.