NEW YORK, Dec. 23, 2014 (GLOBE NEWSWIRE) -- Xcel Brands, Inc. (OTCQX:XELB) ("Xcel" or the "Company"), an omnichannel brand management company, announced today that it has acquired two brands, H by Halston and H Halston, from Halston's intellectual property holding company for approximately $27.7 million in a combination of cash, stock and warrants. The seller's parent company, House of Halston, LLC, will retain the Halston and Halston Heritage brands. Xcel was founded by Robert W. D'Loren in 2011 and currently owns the Isaac Mizrahi brand, the Judith Ripka brand and has an interest in the Liz Claiborne New York brand.
Robert W. D'Loren, Xcel's Chairman and Chief Executive Officer stated, "We are excited to add H by Halston and H Halston to Xcel's portfolio. Halston was an American icon, and these brands, inspired by his legacy, are an excellent acquisition for our growing omnichannel company."
Ben Malka, Halston's Chief Executive Officer stated, "I've gotten to know Xcel very well as a board member over the last five months. I look forward to working with Bob and his team on this exciting new project."
About Xcel Brands
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 and Judith Ripka brands, pioneering an omnichannel sales strategy inclusive of interactive media, brick and mortar retail, and e-commerce. Xcel also owns an interest in, manages and designs 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. Xcel differentiates by design. www.xcelbrands.com
About HALSTON
Roy Halston Frowick was the creator of luxury American fashion, whose groundbreaking designs still influence and inspire us today. Founded in the 1960's, the HALSTON label took the fashion industry by storm. Originally known for his innovation in millinery, Halston used his signature materials of jersey, cashmere and suede to reinvent the jumpsuit, the shirtdress, and the classic caftan, permanently leaving his mark on fashion. The 1970's and the era of Studio 54 became synonymous with Halston's designs. Soon after, he was named "the premier fashion designer in America" by Newsweek. His strong connection to pop culture was evident through his friends and clients, which included Andy Warhol, Bianca Jagger, Elizabeth Taylor and Anjelica Huston. Halston went on to create one of the best-selling fragrances of all time in his signature tear-drop shaped perfume bottle designed by Elsa Peretti. Halston created strong codes that are quintessential to the brand even to this day, as a new team of innovators continue to evolve the HALSTON legacy through the HALSTON HERITAGE collection. Under the vision of new Chairman and Chief Executive Officer Ben Malka, an industry veteran, today HALSTON HERITAGE is an approachable luxury lifestyle brand – mixing legacy codes with a modern edge to create an effortless women's collection of ready-to-wear, dresses, handbags, footwear and small leather goods. The new HALSTON HERITAGE has been worn by modern style icons including Gisele Bundchen and Halle Berry among many others, and is carried by some of the world's premier retailers including Neiman Marcus, Bergdorf Goodman, Saks Fifth Avenue, Net-A-Porter and Harvey Nichols, and 17 HALSTON HERITAGE stores worldwide. For more information please visit www.HALSTON.com.