Xcel Brands, Inc. a
brand development and media company, announced on July 17, 2015 that it has
entered into a definitive agreement to acquire the C. Wonder brand,
consisting of the "C. Wonder" trademarks and related designs and other
intellectual property rights. The closing of the acquisition is subject to board
approval and customary closing conditions. The Company will provide further
information on its plans for the C. Wonder brand following its completion of the
transaction.
The C. Wonder brand
was founded by J. Christopher Burch in 2011 to offer a wide-ranging
assortment of beautiful, versatile and spirited products that are designed to
transport its customers to a place they have never been. C. Wonder offered
women's clothing, footwear, jewelry and accessories; housewares and home decor,
great gifts, and a shopping experience designed to deliver delightful surprises
at every turn. Burch Acquisition, LLC, which is controlled by Mr.
Burch, acquired the C. Wonder brand (including its trademarks and related
intellectual property rights) following its chapter
11 filing in 2015, in order to explore strategic opportunities to
re-develop and expand the C. Wonder brand.
On January 6, 2015 Forbes
reported, “C. Wonder, the preppy clothing and gift chain founded by
billionaire Chris Burch, is closing all its stores, having failed to find a
market for its kitschy mid-priced womenswear, home goods and
knick-knacks.”
The Forbes article
also pointed out, that Mr. Burch, is the ex-husband and former business partner
of fashion billionaire Tory Burch. Almost immediately after he launched C.
Wonder in 2011 there was talk of a possible legal clash. The article
mentioned, “C. Wonder was selling clothing and accessories with a distinct Tory
Burch aesthetic at far cheaper prices”.
Xcel Brands,
Inc. is a leader and innovator in the acquisition, design, licensing,
marketing, and retail sales of consumer brands. Xcel owns and manages the Isaac
Mizrahi, Judith Ripka, and H Halston brands, pioneering an omnichannel sales
strategy inclusive of interactive media, brick and mortar retail, and
e-commerce. Xcel also designs and distributes the Liz Claiborne New York brand
which is sold exclusively through QVC. Headquartered in New York City, Xcel
Brands is led by an executive team with significant retailing, licensing,
design, and marketing experience, and a proven track record of success in
elevating branded consumer products companies. With a team of over 50 designers
and social media focused marketing executives, Xcel maintains control of product
quality and promotion across all of its licensed product categories and
distribution channels. Through its innovative Omnichannel retail sales strategy,
360° marketing approach, and focus on design, Xcel seeks to create value for its
shareholders and partners worldwide.
Learn about apparel licensing
opportunities here on Apparel Search.
Note: we realized that we missed posting this news in July 2015 as originally attended. We have posted this article at a later time, but posted as the date originally intended. Sorry for the delay in posting this news.