Centric Brands Inc has announced the purchase of the Zac Posen brand and all related intellectual property in a move that provides a platform for the firm to expand into new licensing categories.
As part of the transaction, Centric Brands has also acquired all existing licenses and collaboration agreements previously held by Z Spoke, LLC.
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.
“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,” says Jason Rabin, CEO of Centric Brands.
Posen started his namesake label in 2001. Looking ahead, he will advise on all facets related to the creative and strategic direction, marketing and promotion of the Zac Posen branded business.
“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,” he adds.
Centric Brands’ portfolio includes more than 100 licensed brands, among which are Calvin Klein, Tommy Hilfiger, Joe’s Jeans, BCBG, and Timberland.