The House of Halston is downsizing. The company announced it has sold two of its diffusion lines, H by Halston and H Halston, to omnichannel brand management company Xcel Brands Inc. for $27.7 million in cash, stock and warranties.
Xcel, founded by chairman and chief executive officer Robert W. D’Loren in 2011, owns the Isaac Mizrahi and Judith Ripka brands, and also has an interest in the Liz Claiborne New York Brand sold exclusively by QVC.
D’Loren said, “We are excited to add H by Halston and H Halston to Xcel’s portfolio. Halston was an American icon, and these brands, inspired by his legacy, are an excellent acquisition for our growing omnichannel company.”
The House of Halston will retain the Halston and Halston Heritage brands. Halston chief executive officer Ben Malka said, “I’ve gotten to know Xcel very well as a board member over the last five months. I look forward to working with Bob and his team on this exciting new project.”