<?xml version="1.0" encoding="us-ascii"?>
<!--XBRL document created with Toppan Merrill Bridge  10.9.0.3 -->
<!--Based on XBRL 2.1-->
<!--Created on: 12/20/2024 4:36:57 PM-->
<!--Modified on: 12/20/2024 4:36:57 PM-->
<link:linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" xmlns:xbrli="http://www.xbrl.org/2003/instance">
  <roleRef xlink:type="simple" xlink:href="xelb-20240930.xsd#StatementUnauditedCondensedConsolidatedBalanceSheets" roleURI="http://www.xcelbrands.com/role/StatementUnauditedCondensedConsolidatedBalanceSheets" xmlns="http://www.xbrl.org/2003/linkbase" />
  <roleRef xlink:type="simple" xlink:href="xelb-20240930.xsd#StatementUnauditedCondensedConsolidatedStatementsOfOperations" roleURI="http://www.xcelbrands.com/role/StatementUnauditedCondensedConsolidatedStatementsOfOperations" xmlns="http://www.xbrl.org/2003/linkbase" />
  <roleRef xlink:type="simple" xlink:href="xelb-20240930.xsd#StatementUnauditedCondensedConsolidatedStatementsOfCashFlows" roleURI="http://www.xcelbrands.com/role/StatementUnauditedCondensedConsolidatedStatementsOfCashFlows" xmlns="http://www.xbrl.org/2003/linkbase" />
  <roleRef xlink:type="simple" xlink:href="xelb-20240930.xsd#DisclosureTrademarksAndOtherIntangiblesScheduleOfTrademarksAndOtherIntangiblesDetails" roleURI="http://www.xcelbrands.com/role/DisclosureTrademarksAndOtherIntangiblesScheduleOfTrademarksAndOtherIntangiblesDetails" xmlns="http://www.xbrl.org/2003/linkbase" />
  <roleRef xlink:type="simple" xlink:href="xelb-20240930.xsd#DisclosureTrademarksAndOtherIntangiblesScheduleOfFutureAmortizationExpenseDetails" roleURI="http://www.xcelbrands.com/role/DisclosureTrademarksAndOtherIntangiblesScheduleOfFutureAmortizationExpenseDetails" xmlns="http://www.xbrl.org/2003/linkbase" />
  <roleRef xlink:type="simple" xlink:href="xelb-20240930.xsd#DisclosureDebtAndOtherLongTermLiabilitiesNetCarryingAmountOfDebtDetailsCalc2" roleURI="http://www.xcelbrands.com/role/DisclosureDebtAndOtherLongTermLiabilitiesNetCarryingAmountOfDebtDetailsCalc2" xmlns="http://www.xbrl.org/2003/linkbase" />
  <roleRef xlink:type="simple" xlink:href="xelb-20240930.xsd#DisclosureLeasesMaturitiesOfFutureLeaseObligationsDetails" roleURI="http://www.xcelbrands.com/role/DisclosureLeasesMaturitiesOfFutureLeaseObligationsDetails" xmlns="http://www.xbrl.org/2003/linkbase" />
  <roleRef xlink:type="simple" xlink:href="xelb-20240930.xsd#DisclosureDebtNetCarryingAmountOfDebtDetails" roleURI="http://www.xcelbrands.com/role/DisclosureDebtNetCarryingAmountOfDebtDetails" xmlns="http://www.xbrl.org/2003/linkbase" />
  <roleRef xlink:type="simple" xlink:href="xelb-20240930.xsd#DisclosureDebtXcelTermLoanRemainingPrincipalPaymentsDetails" roleURI="http://www.xcelbrands.com/role/DisclosureDebtXcelTermLoanRemainingPrincipalPaymentsDetails" xmlns="http://www.xbrl.org/2003/linkbase" />
  <roleRef xlink:type="simple" xlink:href="xelb-20240930.xsd#DisclosureEarningsLossPerShareBasicAndDilutedEarningsPerShareDetails" roleURI="http://www.xcelbrands.com/role/DisclosureEarningsLossPerShareBasicAndDilutedEarningsPerShareDetails" xmlns="http://www.xbrl.org/2003/linkbase" />
  <link:roleRef roleURI="http://www.xcelbrands.com/role/DisclosureDebt" xlink:type="simple" xlink:href="xelb-20240930.xsd#DisclosureDebt" />
  <link:roleRef roleURI="http://www.xcelbrands.com/role/DisclosureDebtNarrativeDetails" xlink:type="simple" xlink:href="xelb-20240930.xsd#DisclosureDebtNarrativeDetails" />
  <link:roleRef roleURI="http://www.xcelbrands.com/role/DocumentDocumentAndEntityInformation" xlink:type="simple" xlink:href="xelb-20240930.xsd#DocumentDocumentAndEntityInformation" />
  <link:roleRef roleURI="http://www.xcelbrands.com/role/DisclosureEarningsLossPerShare" xlink:type="simple" xlink:href="xelb-20240930.xsd#DisclosureEarningsLossPerShare" />
  <link:roleRef roleURI="http://www.xcelbrands.com/role/DisclosureEarningsLossPerShareAntiDilutiveSecuritiesExcludedDetails" xlink:type="simple" xlink:href="xelb-20240930.xsd#DisclosureEarningsLossPerShareAntiDilutiveSecuritiesExcludedDetails" />
  <link:roleRef roleURI="http://www.xcelbrands.com/role/DisclosureEarningsLossPerShareTables" xlink:type="simple" xlink:href="xelb-20240930.xsd#DisclosureEarningsLossPerShareTables" />
  <link:roleRef roleURI="http://www.xcelbrands.com/role/DisclosureIncomeTaxes" xlink:type="simple" xlink:href="xelb-20240930.xsd#DisclosureIncomeTaxes" />
  <link:roleRef roleURI="http://www.xcelbrands.com/role/DisclosureNatureOfOperationsBackgroundAndBasisOfPresentation" xlink:type="simple" xlink:href="xelb-20240930.xsd#DisclosureNatureOfOperationsBackgroundAndBasisOfPresentation" />
  <link:roleRef roleURI="http://www.xcelbrands.com/role/DisclosureRelatedPartyTransactions" xlink:type="simple" xlink:href="xelb-20240930.xsd#DisclosureRelatedPartyTransactions" />
  <link:roleRef roleURI="http://www.xcelbrands.com/role/DisclosureSignificantContractsAndConcentrations" xlink:type="simple" xlink:href="xelb-20240930.xsd#DisclosureSignificantContractsAndConcentrations" />
  <link:roleRef roleURI="http://www.xcelbrands.com/role/DisclosureStockholdersEquity" xlink:type="simple" xlink:href="xelb-20240930.xsd#DisclosureStockholdersEquity" />
  <link:roleRef roleURI="http://www.xcelbrands.com/role/DisclosureStockholdersEquityNonVestedOptionsDetails" xlink:type="simple" xlink:href="xelb-20240930.xsd#DisclosureStockholdersEquityNonVestedOptionsDetails" />
  <link:roleRef roleURI="http://www.xcelbrands.com/role/DisclosureStockholdersEquityStockOptionsDetails" xlink:type="simple" xlink:href="xelb-20240930.xsd#DisclosureStockholdersEquityStockOptionsDetails" />
  <link:roleRef roleURI="http://www.xcelbrands.com/role/DisclosureStockholdersEquityTables" xlink:type="simple" xlink:href="xelb-20240930.xsd#DisclosureStockholdersEquityTables" />
  <link:roleRef roleURI="http://www.xcelbrands.com/role/DisclosureTrademarksAndOtherIntangibles" xlink:type="simple" xlink:href="xelb-20240930.xsd#DisclosureTrademarksAndOtherIntangibles" />
  <link:roleRef roleURI="http://www.xcelbrands.com/role/DisclosureTrademarksAndOtherIntangiblesNarrativeDetails" xlink:type="simple" xlink:href="xelb-20240930.xsd#DisclosureTrademarksAndOtherIntangiblesNarrativeDetails" />
  <link:roleRef roleURI="http://www.xcelbrands.com/role/DisclosureTrademarksAndOtherIntangiblesTables" xlink:type="simple" xlink:href="xelb-20240930.xsd#DisclosureTrademarksAndOtherIntangiblesTables" />
  <link:roleRef roleURI="http://www.xcelbrands.com/role/StatementUnauditedCondensedConsolidatedBalanceSheetsParenthetical" xlink:type="simple" xlink:href="xelb-20240930.xsd#StatementUnauditedCondensedConsolidatedBalanceSheetsParenthetical" />
  <link:roleRef roleURI="http://www.xcelbrands.com/role/StatementUnauditedCondensedConsolidatedStatementsOfStockholdersEquity" xlink:type="simple" xlink:href="xelb-20240930.xsd#StatementUnauditedCondensedConsolidatedStatementsOfStockholdersEquity" />
  <calculationLink xlink:role="http://www.xcelbrands.com/role/StatementUnauditedCondensedConsolidatedBalanceSheets" xlink:type="extended" xlink:title="00100 - Statement - Unaudited Condensed Consolidated Balance Sheets" xmlns="http://www.xbrl.org/2003/linkbase">
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_Assets" xlink:label="loc_us-gaap_Assets_96dd7052-744e-d270-4e77-67944ec39152" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AssetsCurrent" xlink:label="us-gaap_AssetsCurrent_638703094116874885" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_96dd7052-744e-d270-4e77-67944ec39152" xlink:to="us-gaap_AssetsCurrent_638703094116874885" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_638703094116874885" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsCurrent_638703094116874885" xlink:to="us-gaap_CashAndCashEquivalentsAtCarryingValue_638703094116874885" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AccountsReceivableNetCurrent" xlink:label="us-gaap_AccountsReceivableNetCurrent_638703094116874885" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsCurrent_638703094116874885" xlink:to="us-gaap_AccountsReceivableNetCurrent_638703094116874885" order="2" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PrepaidExpenseAndOtherAssetsCurrent" xlink:label="us-gaap_PrepaidExpenseAndOtherAssetsCurrent_638703094116874885" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsCurrent_638703094116874885" xlink:to="us-gaap_PrepaidExpenseAndOtherAssetsCurrent_638703094116874885" order="3" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InventoryNet" xlink:label="us-gaap_InventoryNet_638703094116884877" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsCurrent_638703094116874885" xlink:to="us-gaap_InventoryNet_638703094116884877" order="4" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AssetsNoncurrent" xlink:label="us-gaap_AssetsNoncurrent_638703094116884877" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_96dd7052-744e-d270-4e77-67944ec39152" xlink:to="us-gaap_AssetsNoncurrent_638703094116884877" order="2" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="us-gaap_PropertyPlantAndEquipmentNet_638703094116884877" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsNoncurrent_638703094116884877" xlink:to="us-gaap_PropertyPlantAndEquipmentNet_638703094116884877" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OperatingLeaseRightOfUseAsset" xlink:label="us-gaap_OperatingLeaseRightOfUseAsset_638703094116884877" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsNoncurrent_638703094116884877" xlink:to="us-gaap_OperatingLeaseRightOfUseAsset_638703094116884877" order="2" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:label="us-gaap_IntangibleAssetsNetExcludingGoodwill_638703094116884877" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsNoncurrent_638703094116884877" xlink:to="us-gaap_IntangibleAssetsNetExcludingGoodwill_638703094116884877" order="3" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_EquityMethodInvestments" xlink:label="us-gaap_EquityMethodInvestments_638703094116884877" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsNoncurrent_638703094116884877" xlink:to="us-gaap_EquityMethodInvestments_638703094116884877" order="4" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherAssetsNoncurrent" xlink:label="us-gaap_OtherAssetsNoncurrent_638703094116894878" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsNoncurrent_638703094116884877" xlink:to="us-gaap_OtherAssetsNoncurrent_638703094116894878" order="5" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquity_63817d40-f759-fa9c-45a5-8bbbb36ed5c9" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_Liabilities" xlink:label="us-gaap_Liabilities_638703094116894878" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity_63817d40-f759-fa9c-45a5-8bbbb36ed5c9" xlink:to="us-gaap_Liabilities_638703094116894878" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LiabilitiesNoncurrent" xlink:label="us-gaap_LiabilitiesNoncurrent_638703094116894878" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Liabilities_638703094116894878" xlink:to="us-gaap_LiabilitiesNoncurrent_638703094116894878" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OperatingLeaseLiabilityNoncurrent" xlink:label="us-gaap_OperatingLeaseLiabilityNoncurrent_638703094116894878" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_LiabilitiesNoncurrent_638703094116894878" xlink:to="us-gaap_OperatingLeaseLiabilityNoncurrent_638703094116894878" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DeferredRevenueNoncurrent" xlink:label="us-gaap_DeferredRevenueNoncurrent_638703094116894878" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_LiabilitiesNoncurrent_638703094116894878" xlink:to="us-gaap_DeferredRevenueNoncurrent_638703094116894878" order="2" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LongTermDebtNoncurrent" xlink:label="us-gaap_LongTermDebtNoncurrent_638703094116894878" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_LiabilitiesNoncurrent_638703094116894878" xlink:to="us-gaap_LongTermDebtNoncurrent_638703094116894878" order="3" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AssetAcquisitionContingentConsiderationLiabilityNoncurrent" xlink:label="us-gaap_AssetAcquisitionContingentConsiderationLiabilityNoncurrent_638703094116904887" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_LiabilitiesNoncurrent_638703094116894878" xlink:to="us-gaap_AssetAcquisitionContingentConsiderationLiabilityNoncurrent_638703094116904887" order="4" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherLiabilitiesNoncurrent" xlink:label="us-gaap_OtherLiabilitiesNoncurrent_638703094116904887" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_LiabilitiesNoncurrent_638703094116894878" xlink:to="us-gaap_OtherLiabilitiesNoncurrent_638703094116904887" order="5" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LiabilitiesCurrent" xlink:label="us-gaap_LiabilitiesCurrent_638703094116904887" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Liabilities_638703094116894878" xlink:to="us-gaap_LiabilitiesCurrent_638703094116904887" order="2" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent_638703094116904887" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_LiabilitiesCurrent_638703094116904887" xlink:to="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent_638703094116904887" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DeferredRevenueCurrent" xlink:label="us-gaap_DeferredRevenueCurrent_638703094116904887" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_LiabilitiesCurrent_638703094116904887" xlink:to="us-gaap_DeferredRevenueCurrent_638703094116904887" order="2" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AccruedIncomeTaxesCurrent" xlink:label="us-gaap_AccruedIncomeTaxesCurrent_638703094116904887" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_LiabilitiesCurrent_638703094116904887" xlink:to="us-gaap_AccruedIncomeTaxesCurrent_638703094116904887" order="3" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OperatingLeaseLiabilityCurrent" xlink:label="us-gaap_OperatingLeaseLiabilityCurrent_638703094116904887" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_LiabilitiesCurrent_638703094116904887" xlink:to="us-gaap_OperatingLeaseLiabilityCurrent_638703094116904887" order="4" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="xelb-20240930.xsd#xelb_CurrentPortionOfContingentObligations" xlink:label="xelb_CurrentPortionOfContingentObligations_638703094116904887" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_LiabilitiesCurrent_638703094116904887" xlink:to="xelb_CurrentPortionOfContingentObligations_638703094116904887" order="5" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LongTermDebtCurrent" xlink:label="us-gaap_LongTermDebtCurrent_638703094116904887" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_LiabilitiesCurrent_638703094116904887" xlink:to="us-gaap_LongTermDebtCurrent_638703094116904887" order="6" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:label="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_638703094116904887" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity_63817d40-f759-fa9c-45a5-8bbbb36ed5c9" xlink:to="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_638703094116904887" order="2" use="optional" weight="1" priority="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_MinorityInterest" xlink:label="us-gaap_MinorityInterest_638703094116904887" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_638703094116904887" xlink:to="us-gaap_MinorityInterest_638703094116904887" order="1" use="optional" weight="1" priority="3" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StockholdersEquity" xlink:label="us-gaap_StockholdersEquity_638703094116925982" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_638703094116904887" xlink:to="us-gaap_StockholdersEquity_638703094116925982" order="2" use="optional" weight="1" priority="3" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CommonStockValue" xlink:label="us-gaap_CommonStockValue_638703094116925982" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_StockholdersEquity_638703094116925982" xlink:to="us-gaap_CommonStockValue_638703094116925982" order="1" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AdditionalPaidInCapital" xlink:label="us-gaap_AdditionalPaidInCapital_638703094116925982" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_StockholdersEquity_638703094116925982" xlink:to="us-gaap_AdditionalPaidInCapital_638703094116925982" order="2" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_RetainedEarningsAccumulatedDeficit" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit_638703094116925982" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_StockholdersEquity_638703094116925982" xlink:to="us-gaap_RetainedEarningsAccumulatedDeficit_638703094116925982" order="3" use="optional" weight="1" priority="2" />
  </calculationLink>
  <calculationLink xlink:role="http://www.xcelbrands.com/role/StatementUnauditedCondensedConsolidatedStatementsOfOperations" xlink:type="extended" xlink:title="00200 - Statement - Unaudited Condensed Consolidated Statements of Operations" xmlns="http://www.xbrl.org/2003/linkbase">
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NetIncomeLoss" xlink:label="loc_us-gaap_NetIncomeLoss_a10eea14-f4db-3125-d183-77bb54500e95" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:label="us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_638703094116935658" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetIncomeLoss_a10eea14-f4db-3125-d183-77bb54500e95" xlink:to="us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_638703094116935658" order="1" use="optional" weight="-1" priority="2" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ProfitLoss" xlink:label="us-gaap_ProfitLoss_638703094116935658" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetIncomeLoss_a10eea14-f4db-3125-d183-77bb54500e95" xlink:to="us-gaap_ProfitLoss_638703094116935658" order="2" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:label="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_638703094116935658" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_ProfitLoss_638703094116935658" xlink:to="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_638703094116935658" order="1" use="optional" weight="1" priority="3" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OperatingIncomeLoss" xlink:label="us-gaap_OperatingIncomeLoss_638703094116935658" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_638703094116935658" xlink:to="us-gaap_OperatingIncomeLoss_638703094116935658" order="1" use="optional" weight="1" priority="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DepreciationDepletionAndAmortization" xlink:label="us-gaap_DepreciationDepletionAndAmortization_638703094116935658" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_OperatingIncomeLoss_638703094116935658" xlink:to="us-gaap_DepreciationDepletionAndAmortization_638703094116935658" order="1" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AssetImpairmentCharges" xlink:label="us-gaap_AssetImpairmentCharges_638703094116935658" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_OperatingIncomeLoss_638703094116935658" xlink:to="us-gaap_AssetImpairmentCharges_638703094116935658" order="2" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_GainLossOnDispositionOfAssets1" xlink:label="us-gaap_GainLossOnDispositionOfAssets1_638703094116945835" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_OperatingIncomeLoss_638703094116935658" xlink:to="us-gaap_GainLossOnDispositionOfAssets1_638703094116945835" order="3" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="xelb-20240930.xsd#xelb_AssetAcquisitionContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability" xlink:label="xelb_AssetAcquisitionContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability_638703094116945835" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_OperatingIncomeLoss_638703094116935658" xlink:to="xelb_AssetAcquisitionContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability_638703094116945835" order="4" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="xelb-20240930.xsd#xelb_LossFromEquityMethodInvestments" xlink:label="xelb_LossFromEquityMethodInvestments_638703094116945835" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_OperatingIncomeLoss_638703094116935658" xlink:to="xelb_LossFromEquityMethodInvestments_638703094116945835" order="5" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="xelb-20240930.xsd#xelb_GainLossOnSaleOfLimitedPartnerOwnershipInterest" xlink:label="xelb_GainLossOnSaleOfLimitedPartnerOwnershipInterest_638703094116945835" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_OperatingIncomeLoss_638703094116935658" xlink:to="xelb_GainLossOnSaleOfLimitedPartnerOwnershipInterest_638703094116945835" order="6" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_GainLossOnTerminationOfLease" xlink:label="us-gaap_GainLossOnTerminationOfLease_638703094116945835" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_OperatingIncomeLoss_638703094116935658" xlink:to="us-gaap_GainLossOnTerminationOfLease_638703094116945835" order="7" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="xelb-20240930.xsd#xelb_OperatingIncomeLossBeforeOtherExpense" xlink:label="xelb_OperatingIncomeLossBeforeOtherExpense_638703094116945835" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_OperatingIncomeLoss_638703094116935658" xlink:to="xelb_OperatingIncomeLossBeforeOtherExpense_638703094116945835" order="8" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CostsAndExpenses" xlink:label="us-gaap_CostsAndExpenses_638703094116945835" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="xelb_OperatingIncomeLossBeforeOtherExpense_638703094116945835" xlink:to="us-gaap_CostsAndExpenses_638703094116945835" order="1" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LaborAndRelatedExpense" xlink:label="us-gaap_LaborAndRelatedExpense_638703094116954880" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_CostsAndExpenses_638703094116945835" xlink:to="us-gaap_LaborAndRelatedExpense_638703094116954880" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SellingGeneralAndAdministrativeExpense" xlink:label="us-gaap_SellingGeneralAndAdministrativeExpense_638703094116954880" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_CostsAndExpenses_638703094116945835" xlink:to="us-gaap_SellingGeneralAndAdministrativeExpense_638703094116954880" order="2" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_GrossProfit" xlink:label="us-gaap_GrossProfit_638703094116954880" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="xelb_OperatingIncomeLossBeforeOtherExpense_638703094116945835" xlink:to="us-gaap_GrossProfit_638703094116954880" order="2" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CostOfGoodsAndServicesSold" xlink:label="us-gaap_CostOfGoodsAndServicesSold_638703094116954880" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_GrossProfit_638703094116954880" xlink:to="us-gaap_CostOfGoodsAndServicesSold_638703094116954880" order="1" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_RevenueFromContractWithCustomerIncludingAssessedTax" xlink:label="us-gaap_RevenueFromContractWithCustomerIncludingAssessedTax_638703094116954880" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_GrossProfit_638703094116954880" xlink:to="us-gaap_RevenueFromContractWithCustomerIncludingAssessedTax_638703094116954880" order="2" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InterestIncomeExpenseNet" xlink:label="us-gaap_InterestIncomeExpenseNet_638703094116954880" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_638703094116935658" xlink:to="us-gaap_InterestIncomeExpenseNet_638703094116954880" order="2" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="us-gaap_IncomeTaxExpenseBenefit_638703094116964898" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_ProfitLoss_638703094116935658" xlink:to="us-gaap_IncomeTaxExpenseBenefit_638703094116964898" order="2" use="optional" weight="-1" priority="1" />
  </calculationLink>
  <calculationLink xlink:role="http://www.xcelbrands.com/role/StatementUnauditedCondensedConsolidatedStatementsOfCashFlows" xlink:type="extended" xlink:title="00400 - Statement - Unaudited Condensed Consolidated Statements of Cash Flows" xmlns="http://www.xbrl.org/2003/linkbase">
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect" xlink:label="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_9743d583-dfae-6ae9-f133-a1e331df792c" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_638703094116964898" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_9743d583-dfae-6ae9-f133-a1e331df792c" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivities_638703094116964898" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ProfitLoss" xlink:label="us-gaap_ProfitLoss_638703094116964898" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_638703094116964898" xlink:to="us-gaap_ProfitLoss_638703094116964898" order="1" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DepreciationDepletionAndAmortization" xlink:label="us-gaap_DepreciationDepletionAndAmortization_638703094116964898" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_638703094116964898" xlink:to="us-gaap_DepreciationDepletionAndAmortization_638703094116964898" order="2" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AssetImpairmentCharges" xlink:label="us-gaap_AssetImpairmentCharges_638703094116974878" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_638703094116964898" xlink:to="us-gaap_AssetImpairmentCharges_638703094116974878" order="3" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AmortizationOfFinancingCosts" xlink:label="us-gaap_AmortizationOfFinancingCosts_638703094116974878" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_638703094116964898" xlink:to="us-gaap_AmortizationOfFinancingCosts_638703094116974878" order="4" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ShareBasedCompensation" xlink:label="us-gaap_ShareBasedCompensation_638703094116974878" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_638703094116964898" xlink:to="us-gaap_ShareBasedCompensation_638703094116974878" order="5" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ProvisionForDoubtfulAccounts" xlink:label="us-gaap_ProvisionForDoubtfulAccounts_638703094116974878" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_638703094116964898" xlink:to="us-gaap_ProvisionForDoubtfulAccounts_638703094116974878" order="6" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_RestructuringCosts" xlink:label="us-gaap_RestructuringCosts_638703094116974878" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_638703094116964898" xlink:to="us-gaap_RestructuringCosts_638703094116974878" order="7" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncomeLossFromEquityMethodInvestments" xlink:label="us-gaap_IncomeLossFromEquityMethodInvestments_638703094116974878" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_638703094116964898" xlink:to="us-gaap_IncomeLossFromEquityMethodInvestments_638703094116974878" order="8" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="xelb-20240930.xsd#xelb_AssetAcquisitionContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability" xlink:label="xelb_AssetAcquisitionContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability_638703094116974878" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_638703094116964898" xlink:to="xelb_AssetAcquisitionContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability_638703094116974878" order="9" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_GainLossOnDispositionOfAssets1" xlink:label="us-gaap_GainLossOnDispositionOfAssets1_638703094116984896" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_638703094116964898" xlink:to="us-gaap_GainLossOnDispositionOfAssets1_638703094116984896" order="10" use="optional" weight="-1" priority="3" />
    <loc xlink:type="locator" xlink:href="xelb-20240930.xsd#xelb_GainLossOnSaleOfLimitedPartnerOwnershipInterest" xlink:label="xelb_GainLossOnSaleOfLimitedPartnerOwnershipInterest_638703094116984896" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_638703094116964898" xlink:to="xelb_GainLossOnSaleOfLimitedPartnerOwnershipInterest_638703094116984896" order="11" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_GainLossOnTerminationOfLease" xlink:label="us-gaap_GainLossOnTerminationOfLease_638703094116984896" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_638703094116964898" xlink:to="us-gaap_GainLossOnTerminationOfLease_638703094116984896" order="12" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:label="us-gaap_IncreaseDecreaseInAccountsReceivable_638703094116984896" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_638703094116964898" xlink:to="us-gaap_IncreaseDecreaseInAccountsReceivable_638703094116984896" order="13" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncreaseDecreaseInInventories" xlink:label="us-gaap_IncreaseDecreaseInInventories_638703094116984896" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_638703094116964898" xlink:to="us-gaap_IncreaseDecreaseInInventories_638703094116984896" order="14" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncreaseDecreaseInPrepaidExpensesOther" xlink:label="us-gaap_IncreaseDecreaseInPrepaidExpensesOther_638703094116984896" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_638703094116964898" xlink:to="us-gaap_IncreaseDecreaseInPrepaidExpensesOther_638703094116984896" order="15" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncreaseDecreaseInDeferredRevenue" xlink:label="us-gaap_IncreaseDecreaseInDeferredRevenue_638703094116994900" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_638703094116964898" xlink:to="us-gaap_IncreaseDecreaseInDeferredRevenue_638703094116994900" order="16" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities" xlink:label="us-gaap_IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities_638703094116994900" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_638703094116964898" xlink:to="us-gaap_IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities_638703094116994900" order="17" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncreaseDecreaseInOtherOperatingLiabilities" xlink:label="us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_638703094116994900" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_638703094116964898" xlink:to="us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_638703094116994900" order="18" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncreaseDecreaseInOperatingLeaseLiability" xlink:label="us-gaap_IncreaseDecreaseInOperatingLeaseLiability_638703094116994900" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_638703094116964898" xlink:to="us-gaap_IncreaseDecreaseInOperatingLeaseLiability_638703094116994900" order="19" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities_638703094116994900" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_9743d583-dfae-6ae9-f133-a1e331df792c" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivities_638703094116994900" order="2" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="xelb-20240930.xsd#xelb_NetProceedsFromSaleOfMajorityInterestInInvestingActivity" xlink:label="xelb_NetProceedsFromSaleOfMajorityInterestInInvestingActivity_638703094116994900" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivities_638703094116994900" xlink:to="xelb_NetProceedsFromSaleOfMajorityInterestInInvestingActivity_638703094116994900" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_638703094117004880" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivities_638703094116994900" xlink:to="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_638703094117004880" order="2" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities_638703094117004880" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_9743d583-dfae-6ae9-f133-a1e331df792c" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivities_638703094117004880" order="3" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ProceedsFromIssuanceOrSaleOfEquity" xlink:label="us-gaap_ProceedsFromIssuanceOrSaleOfEquity_638703094117004880" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities_638703094117004880" xlink:to="us-gaap_ProceedsFromIssuanceOrSaleOfEquity_638703094117004880" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_RepaymentsOfLongTermDebt" xlink:label="us-gaap_RepaymentsOfLongTermDebt_638703094117004880" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities_638703094117004880" xlink:to="us-gaap_RepaymentsOfLongTermDebt_638703094117004880" order="2" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ProceedsFromStockOptionsExercised" xlink:label="us-gaap_ProceedsFromStockOptionsExercised_638703094117004880" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities_638703094117004880" xlink:to="us-gaap_ProceedsFromStockOptionsExercised_638703094117004880" order="3" use="optional" weight="1" priority="2" />
  </calculationLink>
  <calculationLink xlink:role="http://www.xcelbrands.com/role/DisclosureTrademarksAndOtherIntangiblesScheduleOfTrademarksAndOtherIntangiblesDetails" xlink:type="extended" xlink:title="40402 - Disclosure - Trademarks and Other Intangibles - Schedule of Trademarks and Other Intangibles (Details)" xmlns="http://www.xbrl.org/2003/linkbase">
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FiniteLivedIntangibleAssetsNet" xlink:label="us-gaap_FiniteLivedIntangibleAssetsNet_1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FiniteLivedIntangibleAssetsGross" xlink:label="us-gaap_FiniteLivedIntangibleAssetsGross_638703094117014943" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_FiniteLivedIntangibleAssetsNet_1" xlink:to="us-gaap_FiniteLivedIntangibleAssetsGross_638703094117014943" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_638703094117014943" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_FiniteLivedIntangibleAssetsNet_1" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_638703094117014943" order="2" use="optional" weight="-1" />
  </calculationLink>
  <calculationLink xlink:role="http://www.xcelbrands.com/role/DisclosureTrademarksAndOtherIntangiblesScheduleOfFutureAmortizationExpenseDetails" xlink:type="extended" xlink:title="40403 - Disclosure - Trademarks and Other Intangibles - Schedule of Future Amortization Expense (Details)" xmlns="http://www.xbrl.org/2003/linkbase">
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FiniteLivedIntangibleAssetsNet" xlink:label="us-gaap_FiniteLivedIntangibleAssetsNet" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear_638703094117014943" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_FiniteLivedIntangibleAssetsNet" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear_638703094117014943" order="1" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_638703094117024906" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_FiniteLivedIntangibleAssetsNet" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_638703094117024906" order="2" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_638703094117024906" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_FiniteLivedIntangibleAssetsNet" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_638703094117024906" order="3" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_638703094117024906" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_FiniteLivedIntangibleAssetsNet" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_638703094117024906" order="4" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_638703094117024906" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_FiniteLivedIntangibleAssetsNet" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_638703094117024906" order="5" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="xelb-20240930.xsd#xelb_FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFour" xlink:label="xelb_FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFour_638703094117024906" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_FiniteLivedIntangibleAssetsNet" xlink:to="xelb_FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFour_638703094117024906" order="6" use="optional" weight="1" priority="2" />
  </calculationLink>
  <calculationLink xlink:role="http://www.xcelbrands.com/role/DisclosureDebtAndOtherLongTermLiabilitiesNetCarryingAmountOfDebtDetailsCalc2" xlink:type="extended" xlink:title="40601 - Disclosure - Debt and Other Long-term Liabilities - Net Carrying Amount of Debt (Details) (Calc2)" xmlns="http://www.xbrl.org/2003/linkbase">
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LongTermDebt" xlink:label="us-gaap_LongTermDebt_1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LongTermDebtCurrent" xlink:label="us-gaap_LongTermDebtCurrent_638703094117024906" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_LongTermDebt_1" xlink:to="us-gaap_LongTermDebtCurrent_638703094117024906" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LongTermDebtNoncurrent" xlink:label="us-gaap_LongTermDebtNoncurrent_638703094117034884" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_LongTermDebt_1" xlink:to="us-gaap_LongTermDebtNoncurrent_638703094117034884" order="2" use="optional" weight="1" />
  </calculationLink>
  <calculationLink xlink:role="http://www.xcelbrands.com/role/DisclosureLeasesMaturitiesOfFutureLeaseObligationsDetails" xlink:type="extended" xlink:title="40602 - Disclosure - Leases - Maturities of Future Lease Obligations (Details)" xmlns="http://www.xbrl.org/2003/linkbase">
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_33A278FB2A32534B83D5AB8144C0337D" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_638703094117034884" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_33A278FB2A32534B83D5AB8144C0337D" xlink:to="us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_638703094117034884" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OperatingLeaseLiability" xlink:label="us-gaap_OperatingLeaseLiability_638703094117034884" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_33A278FB2A32534B83D5AB8144C0337D" xlink:to="us-gaap_OperatingLeaseLiability_638703094117034884" order="2" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OperatingLeaseLiabilityCurrent" xlink:label="us-gaap_OperatingLeaseLiabilityCurrent_638703094117034884" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_OperatingLeaseLiability_638703094117034884" xlink:to="us-gaap_OperatingLeaseLiabilityCurrent_638703094117034884" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OperatingLeaseLiabilityNoncurrent" xlink:label="us-gaap_OperatingLeaseLiabilityNoncurrent_638703094117034884" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_OperatingLeaseLiability_638703094117034884" xlink:to="us-gaap_OperatingLeaseLiabilityNoncurrent_638703094117034884" order="2" use="optional" weight="1" />
  </calculationLink>
  <calculationLink xlink:role="http://www.xcelbrands.com/role/DisclosureDebtNetCarryingAmountOfDebtDetails" xlink:type="extended" xlink:title="40702 - Disclosure - Debt - Net Carrying Amount of Debt (Details)" xmlns="http://www.xbrl.org/2003/linkbase">
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LongTermDebt" xlink:label="us-gaap_LongTermDebt" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DebtInstrumentCarryingAmount" xlink:label="us-gaap_DebtInstrumentCarryingAmount_638703094117044888" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_LongTermDebt" xlink:to="us-gaap_DebtInstrumentCarryingAmount_638703094117044888" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DeferredFinanceCostsNet" xlink:label="us-gaap_DeferredFinanceCostsNet_638703094117044888" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_LongTermDebt" xlink:to="us-gaap_DeferredFinanceCostsNet_638703094117044888" order="2" use="optional" weight="-1" />
  </calculationLink>
  <calculationLink xlink:role="http://www.xcelbrands.com/role/DisclosureDebtXcelTermLoanRemainingPrincipalPaymentsDetails" xlink:type="extended" xlink:title="40703 - Disclosure - Debt - Xcel Term Loan Remaining Principal Payments (Details)" xmlns="http://www.xbrl.org/2003/linkbase">
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DebtInstrumentCarryingAmount" xlink:label="us-gaap_DebtInstrumentCarryingAmount" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_638703094117044888" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_DebtInstrumentCarryingAmount" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_638703094117044888" order="1" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_638703094117044888" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_DebtInstrumentCarryingAmount" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_638703094117044888" order="2" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_638703094117044888" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_DebtInstrumentCarryingAmount" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_638703094117044888" order="3" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_638703094117054885" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_DebtInstrumentCarryingAmount" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_638703094117054885" order="4" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_638703094117054885" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_DebtInstrumentCarryingAmount" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_638703094117054885" order="5" use="optional" weight="1" priority="2" />
  </calculationLink>
  <calculationLink xlink:role="http://www.xcelbrands.com/role/DisclosureEarningsLossPerShareBasicAndDilutedEarningsPerShareDetails" xlink:type="extended" xlink:title="40901 - Disclosure - Earnings (Loss) Per Share - Basic and Diluted Earnings Per Share (Details)" xmlns="http://www.xbrl.org/2003/linkbase">
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_638703094117054885" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:to="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_638703094117054885" order="1" use="optional" weight="1" />
  </calculationLink>
</link:linkbase>
