Kohl's re-ups Simply Vera Vera Wang deal
December 7, 2010,
Menomonee Falls, Wis. - Kohl's Corporation has signed an early renewal of its long-term license agreement with designer Vera Wang's Simply Vera Vera Wang brand. The excusive program will expand into cosmetics by spring 2012 in stores nationwide and on its Kohls.com website.
Kohl's is the exclusive provider and marketer of all Simply Vera Vera Wang merchandise in the United States. The partnership began in 2006 when Simply Vera Vera Wang was first licensed by a subsidiary of Vera Wang Group to Kohl's.
"Leveraging the strength of our exclusive and private brand portfolio allows us to broaden our cross-category representation of existing brands and continues to differentiate Kohl's in the marketplace," said Kevin Mansell, chairman, president and ceo of Kohl's.
For Kohl's, the expansion of Simply Vera Vera Wang into cosmetics demonstrates the strength of its exclusive and private brand strategy, which accounted for 48% of sales in the third quarter of 2010, "up significantly from 2009," the retailer noted.
"Since its launch in 2007, Simply Vera Vera Wang has consistently been a strong performer and is the leading exclusive brand in the women's contemporary category," Kohl's added.
Upon its launch early next year, the Simply Vera Vera Wang branded line of cosmetics will include make-up and color, skin care, bath and body products and beauty accessories.