XCel Brands, Inc. (XELB) shares are getting a serious boost in after-hours trading Tuesday after the company revealed an exclusive licensing collaboration between its handbag brand Baggallini and supermodel and entrepreneur Coco Rocha.
The partnership kicks off with a limited-edition capsule collection designed by Rocha, blending Baggallini's signature organization and functionality with designs inspired by Rocha's own travel experiences. “Throughout my career, I’ve been constantly on the move,” Rocha said. “Traveling between photo shoots, airports and family life. I wanted to create a bag that was stylish and functional for all the needs of a woman on the go.”
Robert W. D’Loren, CEO of XCel Brands, said the collaboration fits the company's strategy of connecting talent with its portfolio brands. “Coco Rocha’s global influence, entrepreneurial spirit, and authentic understanding of the modern woman’s lifestyle made her an exceptional partner for Baggallini,” D’Loren said.
No pricing or launch date has been announced yet, but the market is already reacting. XELB shares raced more than 100% higher at one point before pulling back on heavy trading volume. The stock has a float of less than four million shares, and more than 10 million shares have traded in the session, according to market data. XCel Brands stock was up 16.85% at $2.10 during after-hours trading on Tuesday.
