Business
Xcel Brands, Inc. and Hilco Global Acquire the Intellectual Property of the Heritage Home and Collectibles Brand Longaberger
NEW YORK, Nov. 12, 2019 (GLOBE NEWSWIRE) -- Xcel Brands, Inc. (NASDAQ: XELB) and Hilco Global today announced the acquisition of the intellectual property of
About this update from Xcel Brands, Inc
[{"type":"text","content":"NEW YORK, Nov. 12, 2019 (GLOBE NEWSWIRE) -- Xcel Brands, Inc. (NASDAQ: XELB) and Hilco Global today announced the acquisition of the intellectual property of Longaberger. Xcel Brands will manage the brand.\n Longaberger is an American heritage home and collectibles brand that was founded in Dresden, Ohio in 1973 by the Longaberger family. Since its inception, the company has achieved total lifetime sales of over $10 billion. Longaberger was one of the original social commerce companies, with sales primarily generated through home parties hosted by the company’s independent sales consultants. With the launch of the new social channels (Facebook @TheLongabergerFamily, Instagram @TheLongabergerFamily) the Longaberger company will soon launch news and guidelines for ways of supporters and sales associates to get involved. Robert W. D’Loren, Xcel’s Chairman and Chief Executive Officer stated, “I am very familiar with the Longaberger company, community and family, having served on the company’s board of directors for two years beginning in 2006. We’re excited to build on the long history of this brand and its engaged customer and home sales associate community. The Longaberger company is known throughout the country and we’re looking forward to bringing this brand into the future.” Jeffrey B. Hecktman, CEO of Hilco Global said, “This is an iconic American brand that provides an excellent opportunity for our joint venture team to deliver strategic, operational, and innovative solutions that will enhance value and restore growth to the business. By partnering with Xcel Brands, we are confident we can build both the intrinsic and potential value of Longaberger.” The Longaberger brand will be managed out of Xcel Brand’s New York City headquarters going forward. The brand will launch on QVC with an appearance by Rachel Longaberger, on Wednesday, November 13th on ‘In The Kitchen With David’ show airing from 8 – 10pm ET. Tami Longaberger expressed, “I am overjoyed that our beloved brand is back in the hands of good people. Thousands of dedicated Longaberger extended family, who dearly love what Longaberger stands for, have reached out to us on hopes that we can reclaim Longaberger. Our shared values – integrity, craftsmanship, and opportunity for all – will move us forward. We’re excited to work with Bob D’Loren and his team at Xcel brands t...