Lands’ End is creating a joint venture with brand management firm WHP Global to “unlock” value from Lands’ End’s intellectual property (IP), according to a press release.
The joint venture involves the creation of a new entity to hold the Lands’ End brand IP. WHP Global will contribute $300 million in cash in exchange for a 50% controlling equity stake in this entity. Lands’ End will retain operational control over its core business, including its direct-to-consumer, B2B outfitters and current retail operations. The company will license use of the brand from the joint venture, pay royalties and also receive a share of JV profits.
“This joint venture represents a fantastic opportunity for Lands’ End and will enable an even brighter future for the company and brand,” said Josephine Linden, chair of the Lands’ End board of directors, in a statement.
“After carefully reviewing the full range of strategic alternatives available to the company, the board determined that this structure delivers Lands’ End stockholders superior long-term, risk-adjusted value by combining immediate balance sheet strength with retained upside and operational continuity,” Linden said.
Lands’ End announced it was undertaking a review of strategic alternatives in March, which included a possible sale of the company.
Debt Relief, Licensing and Brand Expansion
The immediate financial effect will be to strengthen Lands’ End’s balance sheet by using proceeds from the deal to repay its outstanding term loan, which was approximately $234 million as of January 2026.
Following the deal, WHP Global will lead the global licensing and brand expansion strategy for the Lands’ End brand. WHP Global currently manages a portfolio of consumer brands and has experience in expanding brands into new product categories and markets via licensing agreements.
For Lands’ End, the focus areas for expansion include international markets and adjacent product lines. Expansion and licensing efforts will be managed by WHP Global, while Lands’ End maintains its existing consumer-facing operations.
Timeline and Next Steps
The joint venture is expected to close in the first half of 2026, pending regulatory approvals and other closing conditions. After the deal closes, WHP Global also plans a tender offer of up to $100 million for Lands’ End common stock at $45 per share.
