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Joseph Abboud to Enter Men’s Sock Market

WHP Global has inked a licensing agreement with Bespoke Fashion LLC for a collection of men’s socks for the Joseph Abboud brand.

The brand management firm on Friday said the new line of men’s casual and dress socks is expected to be in stores for the fall season this year throughout the U.S. and Canada.

“We are thrilled to partner with WHP Global and add the Joseph Abboud brand to our growing men’s hosiery division,” Danielle Mandelbaum, Bespoke Fashion CEO, said. “Combining the rich heritage of Joseph Abboud with our passion for product, innovation and sales driven results we are looking forward to building this business together.”

“We are pleased to partner with Bespoke Fashion to bring a key new category to customers who are looking to experience the quality, comfort and discerning style for which the Joseph Abboud brand is known,” added Stanley Silverstein, WHP global chief commercial officer. “The new sock collection is one of several initiatives we have planned for Joseph Abboud as we look to expand this powerful brand into a broader range of lifestyle categories for our global customers.”

The brand management firm acquired the men’s wear label from Tailored Brands Inc. for $115 million more than a year ago. Joseph Abboud the designer left Tailored Brands at the end of January 2020 after the deal was announced, but before WHP closed on the transaction two months later. Tailored Brands remains a retail partner of the Abboud line.

WHP subsequently secured a $150 million equity commitment from Oaktree Capital Management. The additional funding, in part, was to help WHP drive future growth of the Abboud brand. Earlier this month, WHP entered into a licensing deal with SportLife Brands for a new Abboud-branded line of men’s and boys’ underwear, undershirts, base-layer, thermals and boys’ sleepwear. The line is expected to launch this spring at retail doors throughout the U.S., Canada and select international retailers.

Founded by Joseph Abboud in 1987, the men’s wear brand generates over $700 million in worldwide retail sales through its Joseph Abboud, JOE Joseph Abboud and Bespoke Joseph Abboud lines.