Tailored Brands Inc., Fremont, Calif., has sold its Joseph Abboud trademarks to New York City-based WHP Global for $115 million. Included in the deal was a licensing agreement giving Tailored Brands the exclusive rights to sell and rent Joseph Abboud branded apparel and related merchandise in the United States and Canada. Tailored Brands reports it will use the proceeds from the sale for debt repayment to strengthen its balance sheet and provide the financial flexibility needed to invest in its customer-facing transformation strategies.
March/April 2020
