<SEC-DOCUMENT>0001140361-12-026350.txt : 20120518
<SEC-HEADER>0001140361-12-026350.hdr.sgml : 20120518
<ACCEPTANCE-DATETIME>20120518162914
ACCESSION NUMBER:		0001140361-12-026350
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20120508
FILED AS OF DATE:		20120518
DATE AS OF CHANGE:		20120518

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			TRAFELET REMY W
		CENTRAL INDEX KEY:			0001297619

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-31553
		FILM NUMBER:		12855903

	MAIL ADDRESS:	
		STREET 1:		C/O TRAFELET & COMPANY, LLC
		STREET 2:		590 MADISON AVENUE, 39TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			XCel Brands, Inc.
		CENTRAL INDEX KEY:			0001083220
		STANDARD INDUSTRIAL CLASSIFICATION:	PATENT OWNERS & LESSORS [6794]
		IRS NUMBER:				760307819
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		475 10TH AVENUE
		STREET 2:		4TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10018
		BUSINESS PHONE:		(347) 727-2474

	MAIL ADDRESS:	
		STREET 1:		475 10TH AVENUE
		STREET 2:		4TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10018

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NETFABRIC HOLDINGS, INC
		DATE OF NAME CHANGE:	20050516

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HOUSTON OPERATING CO
		DATE OF NAME CHANGE:	19990402

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			TRAFELET & CO LLC
		CENTRAL INDEX KEY:			0001176974

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-31553
		FILM NUMBER:		12855901

	BUSINESS ADDRESS:	
		STREET 1:		590 MADISON AVENUE
		STREET 2:		39TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		212-201-7800

	MAIL ADDRESS:	
		STREET 1:		590 MADISON AVENUE
		STREET 2:		39TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			TRAFELET CAPITAL MANAGEMENT, L.P.
		CENTRAL INDEX KEY:			0001387672
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-31553
		FILM NUMBER:		12855902

	BUSINESS ADDRESS:	
		STREET 1:		590 MADISON AVENUE
		STREET 2:		26TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		212-201-7800

	MAIL ADDRESS:	
		STREET 1:		590 MADISON AVENUE
		STREET 2:		26TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>doc1.xml
<DESCRIPTION>FORM 3
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0205</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2012-05-08</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001083220</issuerCik>
        <issuerName>XCel Brands, Inc.</issuerName>
        <issuerTradingSymbol>XELB</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001387672</rptOwnerCik>
            <rptOwnerName>TRAFELET CAPITAL MANAGEMENT, L.P.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>590 MADISON AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2>26TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001176974</rptOwnerCik>
            <rptOwnerName>TRAFELET &amp; CO LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>590 MADISON AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2>26TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001297619</rptOwnerCik>
            <rptOwnerName>TRAFELET REMY W</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O TRAFELET CAPITAL MANAGEMENT, L.P.</rptOwnerStreet1>
            <rptOwnerStreet2>590 MADISON AVE, 26TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock, $0.001 par value</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>666667</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnote</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">Each of the reporting persons disclaims beneficial ownership of the reported securities except to the extent of his or its pecuniary interest therein, and this report shall not be deemed an admission that such reporting person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.</footnote>
        <footnote id="F2">Shares reported herein are held by several private investment funds for which Trafelet Capital Management, L.P. serves as the investment manager. Trafelet &amp; Company, LLC serves as the general partner of Trafelet Capital Management, L.P. and Remy Trafelet serves as managing member of Trafelet &amp; Company, LLC.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>Remy Trafelet</signatureName>
        <signatureDate>2012-05-18</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Remy Trafelet, Managing Member of Trafelet &amp; Company, LLC</signatureName>
        <signatureDate>2012-05-18</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Remy Trafelet, Managing Member of Trafelet &amp; Company, LLC,  General Partner of TRAFELET CAPITAL MANAGEMENT, L.P.</signatureName>
        <signatureDate>2012-05-18</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
