The Zac Posen brand and its related intellectual property assets are now under the ownership of lifestyle brands collective Centric Brands Inc.
The brand’s assets were held previously by Z Spoke LLC. Going forward, Zac Posen the designer will still advise on all facets related to the creative and strategic direction, marketing and promotion of the Zac Posen branded business.
As part of the deal—the terms of which were not disclosed—Centric has also acquired all existing licenses and collaboration agreements from the predecessor business, but the liabilities associated with it remain with the previous owner. Existing licenses include women’s handbags, small leather goods and cold weather accessories including hosiery and legwear, which Centric currently manufactures and produces. The Zac Posen brand also has a presence in bridal, fine jewelry, men’s and women’s eyewear and women’s footwear, all under license.
“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,” Centric CEO Jason Rabin said. “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.”
For Posen himself, the appeal is in helping “selectively build the brand’s global distribution and omnichannel marketing strategy.”
The award-winning Posen started his namesake label in 2001, which subsequently became a go-to name for high-end designer fashion. Last November, the designer shut down the business.
Centric’s licensed portfolio include kids apparel for Calvin Klein, Tommy Hilfiger, Nautica and Under Armour, among others. Some of its men’s and women’s apparel brands, also under license, include Joe’s Jeans, Hervé Léger and BCBG. Licensed product lines in accessories include Kate Spade, Michael Kors, All Saints, Frye, Timberland and Jessica Simpson. The acquisition of Zac Posen adds to the company’s growing portfolio, which now includes Hudson, Robert Graham, Swims and Avirex.