The Joseph Abboud brand is making the jump to China.
YouXiang, which was founded in 2008, operates retail stores under the Via Dante, U D X and Aquascutum names and is also the authorized distributor in China for brands including Armani, Michael Kors, Moncler, Theory, Tod’s, Versace and YSL, which combined generate over $750 million in annual sales.
Yehuda Shmidman, chief executive officer of WHP Global, said that because of China’s continued restrictions around COVID-19, “it’s impossible to travel there today. But we were still able to put together this partnership with YouXiang. They love the Joseph Abboud brand and believe it will be an anchor for them in the men’s market.”
He said WHP Global’s eight “power brands” — Anne Klein, Isaac Mizrahi, Joe’s Jeans, William Rast, Lotto, Toys “R” Us and Babies “R” Us in addition to Abboud — has grown into a $4.5 billion company with holdings in hard goods and sports in addition to fashion. Of that figure, he said $2 billion in sales come from outside the U.S.
Shmidman said that although his firm closed on the Abboud purchase a few days before the COVID-19 shutdowns, the brand has rebounded nicely since stores were able to reopen.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Doodles CEO says brand is 'ready to grow up,’ aims for Disney-level brand recognitionDoodles CEO says the brand is “ready to grow up' as the company eyes Pixar, Pokémon, Disney, Amazon, Netflix and Target.
Read more »
Joseph Goodman: Give Coach Cadillac a chance to win the job'I’m not saying to hire [Auburn interim coach Cadillac] Williams based on one game against Mississippi State,' columnist joegoodmanjr writes. 'That’s silly, but it would be equally shortsighted to discount Williams based on what we’ve already seen.'
Read more »
Aston Martin Lagonda picks McLaren’s Tony Joseph to lead Americas expansionThe appointment follows the relocation of Aston Martin The Americas' to New York as its regional headquarters.
Read more »
US Rep. Brad Schneider holds onto 10th congressional seat, beating GOP challenger Joseph SeverinoThe Associated Press has declared incumbent Democratic Rep. Brad Schneider the winner of the 10th Congressional District.
Read more »
3 Editors' Honest Takes on Kristin Cavallari's Jewelry Brand, Uncommon JamesThree editors tried Uncommon James's bestselling jewelry pieces that include dainty necklaces and gold earrings — read our honest reviews here.
Read more »
BYD Launching New Yangwang Brand With Defender-Rivalling SUV | CarscoopsBYD's new off-roader will have a body-on-frame chassis and be offered in EV and PHEV guises
Read more »