Fashion designer Isaac Mizrahi has sold his licensing business—think the IsaacMizrahiLIVE QVC range, not his vastly underrated Bergdorf-level collection—to Xcel Brands, a freshly formed brand licensing and management company headed by Robert D’Loren. New York-based Xcel, which will debut as a publicly traded company through a deal with a shell company called NetFabric Holdings, valued the sale of Mizrahi’s brand at $31.5 million, nearly half of which ($13.8 million) is in the form of Xcel stock. The designer is staying on as chief designer, and up to $32.7 million in additional cash or stock is up for grabs over the next four years in earn-out provisions. “This is a spectacular opportunity for our brand,” said Mizrahi in a statement issued Friday announcing the deal. “We’ve spent nearly a year working closely with Bob D’Loren and look forward to joining him at Xcel. I’m thrilled to be such a significant shareholder in the company and believe that we are poised for growth.” And that means looking beyond QVC. According to Xcel management, new licensing agreements are in the works for various Mizrahi-branded apparel, footwear, and home lines to launch at better retailers beginning next fall.
The Taunton Press is looking for a Art Director – Fine Cooking. next job Oyster.com is looking for a Freelance Writer-Photographer. next job Levine/Leavitt is looking for a Studio Manager. next job Bar Hugo is looking for a Marketing Manager. next job NewBay Media LLC is looking for a Art Director. next job Publishers Clearing House is looking for a Interactive Web Designer. next job See's Candies is looking for a Graphic Designer. next job WBNS-TV is looking for a Photographer. see all
Land your next big gig! Join us on Janaury 27 at the Altman Building in New York City for an incredible opportunity to meet with hiring managers from the top New York media compaies, network with other professionals and industry leaders, and land your next job. Register now!