CEO Jason Rabin Takes Ownership of Centric Brands Along With Group President Jarrod Kahn and New Partners Axar Capital, M-Cor Capital, and MSP Sports Capital

New York, NY — Centric Brands announced the completion of a sale of the Company to CEO Jason Rabin and a new investor group comprised of Axar Capital Management, M-Cor Capital, LLC, MSP Sports Capital, and Jarrod Kahn, Centric Brands Group President.

Rabin takes a majority stake in the Company as Centric enters its next phase; each of the new partners brings complementary expertise and new opportunities to the business. Centric’s current management team will continue to lead the Company, with Rabin remaining Chief Executive Officer.

Building on a period of sustained growth, Centric will continue expanding into new brands, products, and categories while further investing in its best-in-class global operations. Centric has invested more than $25 million in its agile global sourcing operation, leveraging its scale to achieve efficiency and deliver the best product. In addition, the Company has invested in distribution centers totaling 2.7 million square feet across California and New Jersey, and is currently rolling out Centric IQ, its internal AI platform, across its global teams.

“I’m excited to work with a new investor group to lead the company into its next phase,” said Jason Rabin, Chief Executive Officer of Centric. “We’ll continue expanding our brand portfolio, deepening our global operational capabilities, and delivering for our retail and licensing partners.”

“I’m looking forward to continuing to work with Jason as we drive towards his long-term global vision. We are incredibly optimistic about the future of Centric Brands.” said Jarrod Kahn, Group President of Centric Brands.

Centric will continue to innovate and scale through its three-platform business model:

• Centric Powered, its operating engine, which runs the business end to end for brand owners, handling brand building, design, manufacturing, distribution, support, and brand protection to drive scale.

• Centric Ventures, its partnership platform, which partners with founders to build and scale businesses, allowing them to focus on voice, vision, and creative direction while Centric takes on financial support, operations, and backend infrastructure.

• Centric Collective, its ownership engine, which acquires and manages brand IP to build long-term value.

“We look for exceptional leadership teams with the infrastructure to win over the long term, and Centric has both,” said Jeff Moorad, CEO of MSP Sports Capital. “Jason and the Centric team have built a platform with the scale, strategy, and operating discipline to keep growing across brands, categories, and markets. We are proud to join them as partners, particularly as the company continues to grow on the sports side.”

Centric said this next chapter will build on the scale, talent, and culture it has spent nearly a decade establishing. That includes continued investment in its people and operations. Centric employs over 2,600 people across 26 offices in North America, Europe, and Asia, including 18 offices across 8 countries in Asia, where continued investment is deepening its footprint in the region, following the Company’s successful build-out across Europe. Its portfolio spans more than 100 licensed and owned brands, including Calvin Klein, Coach, Dockers, Faherty, Favorite Daughter, Gap, Joe’s Jeans, Michael Kors, Off-White, Quiksilver, Tommy Hilfiger, UGG, and Under Armour, as well as entertainment brands including Disney, Marvel, Paramount, and Universal.

“It has been a pleasure and an honor to work alongside Jason, Jarrod, and the entire Centric team over the last five years. The way they engage with their retail partners, licensors, suppliers, and employees is truly best-in-class in this industry. I wish them continued success as they begin this next chapter,” said Marc Schneider, outgoing Chairperson of the Board of Centric Brands.