Land’s End, WHP announce agreement to form joint venture

Lands’ End and WHP Global announced an agreement to form a new joint venture to unlock the value of Lands’ End’s intellectual property while strengthening the Company’s balance sheet. The transaction delivers $300 million of gross cash proceeds to Lands’ End. To create the JV, Lands’ End will contribute all of its intellectual property and related assets associated with the “Lands’ End” brand, including all of the license agreements entered into in connection with Lands’ End’s licensing business, and WHP Global will pay the Company $300 million in cash for a 50% controlling ownership stake. WHP Global will lead the JV’s global licensing strategy and brand expansion, while Lands’ End will retain full operational control of its existing direct to consumer and B2B businesses. Upon closing, the JV will be owned 50/50 by Lands’ End and WHP Global and will be designed to maximize the value of Lands’ End’s intellectual property, leveraging the brand expertise and global licensee network of WHP Global’s platform. Lands’ End intends to use proceeds from the sale to, among other things, fully repay its outstanding term loan, which was approximately $234 million as of January 26, 2026, and for general corporate purposes.