Nine West enters agreement to acquire Kasper Group
Nine West is looking to expand its brand portfolio beyond Anne Klein, Gloria Vanderbilt, l.e.i. and its namesake brand. The company announced on Tuesday that it has entered into a definitive agreement to acquire the Kasper Group. Both companies are currently separate portfolio companies of Sycamore Partners, which purchased Kasper Group in April 2014.
Nine West Holdings used the net proceeds from the sale of its December 2016 Easy Spirit wholesale business to acquire Kasper Group. The acquisition is expected to close in January.
Kasper Group designs, contract manufactures, and sells women’s sportswear, dresses and suits under its flagship Kasper and other well-known brands including Nine West, Anne Klein, and Le Suit among others. The company sells its products through wholesale distribution channels including specialty and department stores and mass merchandisers.
Prior to the acquisition agreement, Nine West appointed Joel Oblonsky as CEO. He rejoined the company after parting ways to work at Ralph Lauren where he served as President of Ralph Lauren’s Polo, Lauren Footwear and Lauren Accessories.
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