Blank Rome Represents Xcel Brands in Its Sale of Controlling Interest of Isaac Mizrahi Brand to WHP Global
A Blank Rome team successfully represented longstanding firm client Xcel Brands, Inc. (“Xcel”) (NASDAQ: XELB), a media and consumer products company with significant expertise in livestream shopping on TV and online, in connection with its sale of 70-percent controlling interest in fashion brand Isaac Mizrahi to WHP Global, a leading global brand management firm.
The transaction, valued at $68 million, includes $46.2 million in cash proceeds to Xcel, which will retain a 30-percent minority interest in the Isaac Mizrahi brand and continue to manage the QVC business with WHP Global. Xcel will also enter into a new license agreement to design and distribute Isaac Mizrahi apparel in the United States and Canada. The Isaac Mizrahi brand has generated more than one billion dollars in retail sales and is among the top fashion brands on QVC. With this transaction, WHP Global will own and manage over $4.2 billion in retail sales across its portfolio of brands, making it one of the largest and fastest-growing brand management firms in the world.
For more information, please read WHP Global Acquires Controlling Stake in Isaac Mizrahi® Fashion Brand from Xcel Brands (press release, May 31, 2022).
The Blank Rome team was led by Robert J. Mittman, Kathleen A. Cunningham, Brad L. Shiffman, and Peter M. Melampy, with assistance from Scott R. Smith, Joseph T. Gulant, Timothy D. Pecsenye, David M. Perry, John Winton, Blake Fink, and Morgan E. Landy.