Tailored Brands finalizes 15-million-dollar sale of Joseph Abboud

Lower than two months after first saying its sale of its Joseph Abboud model, Tailor-made Brands has closed the sale of the label to WHP International, for a worth of 115 million dollars.

Tailored Brands will use the proceeds from the sale for debt reimbursement, strengthening its stability sheet and investing in consumer-facing transformations strategies.

WHP International will now personal all logos related to the Joseph Abboud brand, though Tailor-made Manufacturers will continue to promote its merchandise. Together with the sale, Tailor-made Brands has entered into a licensing settlement which allows it unique rights to promote and lease Joseph Abboud apparel within the U.S. and Canada.

Sigma Fashion | Top Fashion News
Get Bitcoin just for watching YouTube | http://getbitcoin.gq/