Lands’ End will sell its intellectual property (IP) and a 50% stake in the company to WHP Global, the brand management firm with a portfolio that also includes Toys ‘R’ Us, Babies ‘R’ Us, Express and Bonobos. The deal, expected to close in the first half of 2026, will create a new joint venture (JV) to operate the company and provide Lands’ End with $300 million in cash, which the retailer plans to use to repay an outstanding term loan of approximately $234 million.
As part of the transaction, Lands’ End will enter into a long-term licensing agreement with the JV that will provide it with guaranteed minimum annual royalty payments starting at $50 million for the first year, with any excess cash distributed to WHP Global and Lands’ End on a quarterly basis based on the ownership split. The deal is similar to the one WHP struck to acquire struggling mall brand Express in 2024. Additionally, WHP Global will commence a tender offer for up to $100 million of Lands’ End shares at a $45 per share price.
WHP Global expects its licensing platform to accelerate category expansion, improve partner selection and enhance long-term royalty generation for the Lands’ End brand. Existing Lands’ End customers, products, channels and brand representation will remain unchanged following the deal.
“Partnering with WHP Global in this way is clear recognition of the enduring value of Lands’ End’s extraordinary brand and provides a unique opportunity to supercharge the Lands’ End licensing business,” said Andrew McLean, CEO of Lands’ End in a statement. “This delivers compelling value for stockholders and enhances the trajectory of this legendary American brand.”
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For its Q3, which ended Oct. 31, 2025, Lands’ End generated net revenue of $317.5 million, a decrease of 0.3% from the $318.6 million generated during the same period the previous year.
“Lands’ End has a rich heritage and a deeply loyal customer base,” said Yehuda Shmidman, Founder, Chairman and CEO of WHP Global in a statement. “We see significant opportunity to expand the reach of the Lands’ End brand both in the U.S. and globally by leveraging WHP Global’s platform — which today spans 80+ countries, 225+ license partners and, post-close, a portfolio generating more than $8 billion in global retail sales.”
In December 2024 Vera Wang also sold its IP to WHP Global.
