Centric Brands Inc., a leading lifestyle brands collective, announced the purchase of the Zac Posen brand and all related intellectual property previously held by Z Spoke, LLC.
As part of the transaction, Centric Brands also acquired all existing licenses and collaboration agreements from the predecessor business. Centric Brands 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. 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,” said Mr. Jason Rabin, Chief Executive Officer of Centric Brands.
“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. 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,” said Mr. Posen.
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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.
(Source: Centric Brands)