CENTRIC BRANDS PARTNERS WITH WHP GLOBAL TO ACQUIRE JOE’S JEANS

Centric Brands has teamed up with WHP Global to purchase the Joe’s Jeans brand, subject to customary closing conditions. 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.

“We have significantly invested in Joe’s Jeans throughout our years of operation and have established the brand as one of the leading premium denim resources,” said Jason Rabin, chief executive officer of Centric Brands. “Celebrating its 20th year, we look forward to partnering with WHP Global to further develop the brand and new avenues to grow the business.”

“The acquisition of Joe’s Jeans in partnership with Centric is a win for WHP Global as it expands our growing fashion vertical which already includes Anne Klein and Joseph Abboud,” added Yehuda Shmidman, chairman and chief executive officer at WHP Global. “Together with Centric, we will look to build upon the core business and expand around the world to new geographies.”

Founded in 2001, Joe’s Jeans has redefined premium denim with its inherently L.A. sensibility and distinctive point-of-view. Joe’s Jeans offers denim, apparel, and accessories and is available at premium department stores in the United States, at specialty boutiques globally, 10 Joe’s Jeans stores, and on joesjeans.com. This year, Joe’s Jeans is celebrating its 20th anniversary and is buoyed by strong e-commerce demand, on-trend fits, and its men’s and women’s Kinetic denim.