Joseph Abboud is getting ready to spread its wings.
A new licensing deal brand owner WHP signed with luxury fashion retail group YouXiang will distribute the men’s formalwear brand in China in distribution channels including e-commerce, retail stores, shop-in-shops and wholesale-franchise accounts. The launch will bring Joseph Abboud’s men’s apparel, footwear, bags and luggage, and accessories collections to the 1.4-billion-strong market starting in the spring.
“We are looking forward to partnering with YouXiang as we focus on the expansion of Joseph Abboud’s reach through both international and digital channels,” WHP chief commercial officer Stanley Silverstein said. “YouXiang has successfully brought some of the best-known high-end fashion brands to China, making them the perfect partner to help us reach millions of consumers in one of the world’s fastest growing fashion markets.”
“We are excited about this partnership as Joseph Abboud is a globally celebrated men’s fashion brand with tremendous opportunity in China,” YouXiang founder Jack Lee said. “We intend on fully leveraging our authority in bringing premium fashion brands into the Greater China market as well as our growing retail footprint to build a strong business together with WHP Global.”
Founded in 1987, the Joseph Abboud brand is known for its modern take on heritage and customized menswear collections featuring timeless designs in tailored clothing, special occasion and return to office looks.
The brand was acquired by Tailored Brands in 2013 for $97.3 million and became a top-selling brand at Men’s Wearhouse. Tailored’s debt ballooned to over $2 billion after it acquired Jos. A. Bank Clothiers Inc. Tailored sold Joseph Abboud to WHP for $115 million in January 2020 before it filed for bankruptcy in August that year and emerged from Chapter 11 four months later.
WHP closed on its acquisition in March 2020. At the time, it also secured a $150 million equity commitment from Oaktree Capital Management to power its growth and bring Joseph Abboud to the international stage.
WHP has signed licensing agreements with Bespoke Fashion LLC for men’s socks and with Intradeco Apparel for men’s sleepwear and loungewear. Both cover distribution in the U.S. and Canada.
WHP is affiliated with Wave HIll Partners, the advisory practice founded by Yehuda Shmidman, who is a former CEO of Sequential Brands Group. In addition to Abboud, the WHP portfolio includes Anne Klein, Joe’s Jeans, William Rast, Lotto, Toys “R” Us and Babies “R” Us. The company has a controlling interest in the Isaac Mizrahi brand.