Centric Brands Acquires Zac Posen Brand and Licenses
February 14 2020 - 9:00AM
Business Wire
Centric Brands Inc., (NASDAQ: CTRC), a leading lifestyle brands
collective, announced today the purchase of the Zac Posen brand and
all related intellectual property previously held by Z Spoke, LLC.
As part of the transaction, the Company also acquired all existing
licenses and collaboration agreements from the predecessor
business. The Company is not assuming any liabilities associated
with the predecessor business.
The existing Zac Posen brand licenses include women’s handbags,
small leather goods, and cold weather accessories including hosiery
and legwear, which Centric Brands currently manufactures and
produces, in addition to bridal, fine jewelry, men’s and women’s
eyewear, and women’s footwear.
“We are thrilled to welcome the Zac Posen brand into the Centric
family. Zac is a talented and charismatic designer,” said Mr. Jason
Rabin, Chief Executive Officer of Centric Brands. “The Zac Posen
label is synonymous with exceptional craftsmanship and modern
American glamour and is a red-carpet favorite among many of the
world’s most famous celebrities. This acquisition adds a global,
marquee designer brand to our portfolio of ready-to-wear women’s
apparel and provides a platform to expand into new licensing
categories, while supporting one of our strategies for growth.”
“I am so pleased that Centric Brands is committed to the “Zac
Posen” brand and to building a new and relevant Zac Posen branded
world,” said Mr. Posen. “I am looking forward to helping Jason and
the team continue to identify and execute on strategic licensing
opportunities and selectively build the brand’s global distribution
and omni-channel marketing strategy.”
In 2001 the world-renown and award-winning designer Mr. Posen
started his namesake label and became a go-to name for high-end
designer fashion among celebrities. Mr. Posen will advise on all
facets related to the creative and strategic direction, marketing
and promotion of the Zac Posen branded business.
About Centric Brands Inc.
Centric Brands Inc. (the “Company”) is a leading lifestyle brand
collective that designs, sources, markets and sells high quality
products in multiple segments, including kids, men’s and women’s
apparel, accessories, beauty and entertainment. The Company’s
portfolio includes more than 100 iconic licensed brands, including
for kids apparel, Calvin Klein®, Tommy Hilfiger®, Nautica®, Spyder®
and Under Armour®; for men’s and women’s apparel, Joe’s Jeans®
Buffalo® Hervé Léger® and BCBG®; for accessories, Kate Spade®,
Michael Kors®, All Saints®, Frye®, Timberland® and Jessica
Simpson®; and for entertainment, Disney®, Marvel®, Nickelodeon® and
Warner Brothers®, among others. The Company’s owned brands include
Zac Posen®, Hudson®, Robert Graham®, Swims® and Avirex®. The
Company’s products are sold primarily in North America through
leading mass market retailers, specialty and department stores, and
online. Centric Brands has unparalleled expertise in product
design, development and sourcing, retail and digital commerce,
marketing and brand building. Headquartered in New York City, with
offices in Los Angeles, Greensboro, N.C., Toronto, and Montreal.
More information about Centric Brands please visit
https://www.centricbrands.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20200214005078/en/
Media Relations: Pamela Alabaster Chief Marketing and
Communications Officer Centric Brands 646-745-3006
palabaster@centircbrands.com
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