NORTHBROOK, Ill., Jan. 5, 2015 (GLOBE NEWSWIRE) -- Hilco Brands, a division of Chicago-based Hilco Global, and one of the owners of the iconic fashion label Halston, announced this week that Halston sold its H by Halston and H Halston brands to New York-based Xcel Brands, Inc. (OTCBB:XELB) and retained its Halston and Halston Heritage brands.
The sale is expected to leverage Xcel Brand's significant expertise and historical track record in licensing, international sourcing, distribution and customer access through its omnichannel platform, as well as its extensive marketing resources. Xcel Brands, Inc. currently owns the Isaac Mizrahi and Judith Ripka labels and has an interest in the Liz Claiborne New York label sold on interactive TV and in better bricks and mortar retail distribution.
Xcel Brands Chairman and CEO, Robert D'Loren said that these brands are an ideal complement to our existing portfolio of brands and are synergistic with our existing omnichannel distribution platform. He further stated, "I am excited by the prospects of exploring future brand opportunities with Hilco."
Jeffrey Hecktman, Chairman and CEO of Hilco Global indicated that "We view this as a long term strategic alliance with Xcel Brands."
In a related, but separate transaction, Hilco Global participated in a private placement of Xcel stock, purchasing $6 million of Xcel stock.
In 2007, a division of Hilco Global that specializes in revitalizing brands acquired the Halston IP and has been expanding the apparel brands retail presence strategically for several years. In 2011, Ben Malka joined the company as Chairman and CEO, having previously served as President of BCBG Max Azria since 2001. Mr. Malka also serves on the Xcel's board of directors.
Designer Roy Halston Frowick launched the Halston brand in the 1960s. Halston, become a fashion sensation when he designed the pillbox hat that Jacqueline Kennedy wore to her husband's presidential inauguration in 1961.
About Hilco Brands: Hilco Brands is a Hilco Global company composed of experienced brand strategists that invest in and deliver practical solutions for iconic brand names and businesses. At the heart of Hilco Brands' approach is the ability to recognize both intrinsic and potential value in an under-performing brand or stable of brands. As a principal or agent, the Hilco Brands team assists clients through solutions to restructure and operate the business more effectively, and derives new revenue streams through strategic initiatives such as creative brand licensing, innovative product development solutions and marketing.
Over the years, Hilco Brands has made successful strategic investments in iconic brand names and high-profile consumer companies, including Sharper Image, Polaroid, Ellen Tracy, HMV, Habitat, Linens 'N Things, White Hen Pantry, Denby Pottery, Tommy Armour Golf, Bombay Brands and more.
About Xcel Brands Inc. – 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, Judith Ripka and H by Halston and H Halston brands, pioneering an omnichannel sales strategy inclusive of interactive TV, bricks 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 60 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. Through its innovative omnichannel retail sales strategy, 360° marketing approach, and focus on design, Xcel seeks to create value for its shareholders and partners worldwide.
Source: Hilco Global