Solomon Partners Advising Tailored Brands on Sale of Joseph Abboud Trademarks
On January 17, 2020, Tailored Brands announced the sale of the Joseph Abboud trademarks to WHP Global. Our Global Retail Group, led by David Shiffman, is serving as financial advisor to Tailored Brands, a leading omni-channel specialty retailer of menswear, including suits, formalwear and a broad selection of business casual offerings through brands including Men’s Wearhouse, Jos. A. Bank, Moores Clothing for Men and K&G.
Tailored Brands has also entered into a licensing agreement with WHP for the exclusive rights to sell and rent Joseph Abboud branded apparel and related merchandise in the U.S. and Canada. “The Joseph Abboud brand has played and will continue to play an important role in the assortment at our retail brands and we look forward to our new partnership with WHP and to the next phase of our relationship with the designer Joseph Abboud,” said Tailored Brands President and CEO Dinesh Lathi. “This transaction allows us to unlock value in the Joseph Abboud trademarks through an experienced partner that will focus on building the brand through international and category expansion. We plan to use the proceeds from the transaction for debt repayment, which will strengthen our balance sheet and provide additional financial flexibility to invest in our customer-facing transformation strategies.”