The acquisition gives it all of C. Wonder’s trademarks, designs, and intellectual property rights. “The company will provide further information on its plans for the C. Wonder brand following its completion of the transaction,” which is subject to board approval, it said in a statement.
The retailer was founded by Christopher Burch in 2011, five years after his divorce from designer Tory Burch. It immediately raised eyebrows for its similarity the founder’s ex-wife’s brand. The designer apparently agreed, filing a lawsuit, which was settled two years later.
The company did see some success, growing to 32 stores. In 2013, Burch sold a 10 percent stake to Fidelity for $35 million, and the following year, Morgan Stanley deemed it one of the top accessory brands in the United States.
But in January, the company called it quits, citing the “competitive retail environment.”
Its new owner, Xcel, a public company founded by Robert W. D’Loren in 2011, also owns the Isaac Mizrahi, Judith Ripka, H by Halston and H Halston brands, and designs and manages the Liz Claiborne New York brand.