Xcel Brands has acquired the Judith Ripka lifestyle brand, known for jewelry, for $22.5 million.
In addition to the purchase price, Xcel will provide up to an additional $5 million in contingent future payments based on the company achieving certain net royalties from October 2015 through September 2018.
"We are excited by the opportunity to work with Judith Ripka and her distinctive designs,” says Robert W. D'Loren, chairman and chief executive officer. “The Judith Ripka brand embodies our core mission of delivering products of uncompromising quality. We see a tremendous potential for engaging Judith's brand followers across new product categories, leveraging our omni-channel strategy.”
Xcel also currently owns the Isaac Mizrahi brand and has an interest in the Liz Claiborne New York brand.