WHP Global, in partnership with Simon, Brookfield, and Centennial Real Estate, announces the launch of PHOENIX, a retail operating platform approved to acquire a majority of Express, Inc. operations. PHOENIX will manage all direct-to-consumer commerce in the U.S. for Express and Bonobos, aiming to revitalize their financial outlook and support long-term growth. The platform will prioritize maintaining over 450 physical stores, e-commerce operations, and nearly 7,000 jobs nationwide.
Yehuda Shmidman, Chairman & CEO of WHP Global, expressed his excitement for the partnership with Simon, Brookfield, and Centennial in launching PHOENIX. The court approval and establishment of PHOENIX represent a crucial milestone in the mission to rescue Express Inc. and maintain the loyalty of millions of customers. The restructuring efforts during the Chapter 11 process have positioned Express for a successful future, benefiting all stakeholders.
