Isaac Mizrahi sells up for a whopping US$31.5m

Fashion designer Isaac Mizrahi has sold his licensing business

World-renowned fashion designer, Isaac Mizrahi has sold his licensing business.

New York-based Xcel, which will debut as a publicly traded company through a deal with a shell company called NetFabric Holdings  valued the sale of Mizrahi’s brand at $31.5 million, nearly half of which is in the form of Xcel stock.

The designer is staying on as chief designer, and up to $32.7 million in additional cash or stock is up for grabs over the next four years in earn-out provisions.

“This is a spectacular opportunity for our brand,” says Mizrahi. “We’ve spent nearly a year working closely with Bob D’Loren and look forward to joining him at Xcel. I’m thrilled to be such a significant shareholder in the company and believe that we are poised for growth.”

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