 Vera Wang has entered a three-year licensing agreement with Accessory Network Group LLC ("ANG") for the design, manufacture and distribution of contemporary handbags and small leather goods for the Vera Wang Lavender Label Collection.
"In terms of fashion licensing, handbags have been a top priority for Lavender Label," says Susan Sokol, President of Vera Wang Apparel.
"As our Lavender Label business continues to grow, we have created a platform to license certain categories of product that will strongly complement the clothes.
This partnership is particularly exciting since it is the first license we've done under the Lavender Label umbrella. We believe accessories are an extremely vital and necessary component to enhance the clothing and facilitate continued growth of the business."
Retail pricing of the collection will range from $300 to $1,000, and distribution will follow that of Lavender Label apparel, including top-tier department and specialty stores.
The Vera Wang Lavender Label handbag collection will have a feel and tone similar to the Lavender Label apparel collection; whimsical, fun, youthful and flirty. Since its launch in 2005, the label has succeeded in delivering a line of clothing that focuses on modern, feminine pieces with a retro edge.
"Vera Wang is a terrific partner for us. We share a similar sensibility, which meshes perfectly with our company's expertise, resources, and know-how in this level of the category," said Abe Chehebar, Chairman and Chief Executive Officer of ANG.
"The addition of Vera Wang to our growing Prestige Brands Division is a perfect fit," said Michele Ateyeh, President of ANG Prestige Brands Division. "The opportunity to represent the Vera Wang Lavender Label Collection is something we're all very excited about.
We believe that the accessories we introduce to the marketplace will be as beautiful and unique as the clothing by which they will be inspired." The launch date for the new collection is set for Spring 2009. |