Apparel retailer Express, Inc. has filed for bankruptcy, a move that was expected given the company’s financial struggles. However, unlike some other bankruptcies in the retail sector, there may be hope for Express’s future. The brand has been acquired by WHP Global, a retail brand investment and management company based in New York, known for acquiring undervalued brands with potential. WHP’s founder, Yehuda Shmidman, has a track record of success in the industry and is optimistic about the future of Express and other brands in its portfolio.
WHP Global, relatively new to the scene, has already made a name for itself by acquiring struggling brands and turning them around. Their portfolio, which includes well-known names like Toys ‘R’ Us, Bonobos, Anne Klein, and Isaac Mizrahi, generates annual revenue of $7 billion. Shmidman, who started his career in brand licensing while still in college, has a passion for what he does and believes that now is a good time to be a buyer of intellectual property, as many brands are looking to unload in the current economic climate.
Shmidman’s strategy at WHP Global is to “partner or perish,” meaning that the company regularly collaborates with other parties to acquire brands. For example, they partnered with Express a year ago to acquire Bonobos. Shmidman believes that the supply of impaired brands is high, while demand from qualified buyers is low, creating a busy market for intellectual property acquisitions. This may explain why brands like Express have found a new home with WHP Global, as the company sees potential where others may not.
Express’s future under WHP Global’s ownership looks promising, with Shmidman’s passion for brand management and his successful track record in the industry. He believes that the company is at the beginning of a long boom in the brand management business, and that the current challenges facing the retail industry can be overcome with creativity and enthusiasm from leaders like him. Despite the headlines that may suggest otherwise, Express may have a bright future ahead under new ownership, and industry insiders are optimistic about the potential for brands like it to thrive in the new normal.
Shmidman’s success in revitalizing brands like Toys ‘R’ Us has been driven by his passion for the industry and his desire to be the buyer of choice for struggling brands. He has a vision for the future of brand management that includes collaboration with other industry players and a focus on acquiring undervalued brands with potential for growth. With his leadership and the resources of WHP Global behind them, brands like Express may have a second chance at success in a rapidly changing retail landscape.
