Agreement with Authentic includes moving the luxury apparel brand’s existing business on par with its current wholesale, retail and e-commerce operations.

License Global

April 24, 2023

2 Min Read
VINCE Spring Collection 2023
VINCE Spring Collection 2023

Authentic Brands Group (Authentic) has announced it has entered into an agreement with Vince Holding Corp. (VNCE) to acquire the Vince brand intellectual property. Through the agreement, VNCE will contribute its IP to a newly formed Authentic subsidiary, ABG Vince, of which Authentic will own a majority stake of 75%, while VNCE will retain 25% ownership. In connection with the transaction, Vince Holding Corp. will also enter into a long-term licensing agreement with Authentic to operate VNCE’s existing business in a manner consistent with its current wholesale, retail and e-commerce operations.

“We are pleased to bring this luxury lifestyle brand into the fold and partner with the Vince management team on the brand’s next phase of growth,” says Jamie Salter, founder, chairman, chief executive officer, Authentic. “The addition of Vince strategically expands Authentic’s portfolio of globally renowned luxe brands. We see significant opportunities to expand Vince’s offerings to meet the growing demand for premium and luxury goods around the world.”

Vince was established over two decades ago and is best known for creating elevated yet understated pieces for effortless everyday style across a range of premium collections. The brand offers women’s and men’s ready-to-wear, footwear and accessories through more than 60 retail stores, wholesale accounts, a newly re-platformed e-commerce site and rental subscription service, Vince Unfold. The current store footprint will stay as-is, and it is Authentic’s plan to expand the brand in key luxury markets and categories.

Related:Authentic Brands Group to Acquire Boardriders

“We are pleased to partner with Authentic and unlock the great potential there is for the Vince brand,” says Jack Schwefel, chief executive officer, Vince Holding Corp. “I’m very proud of the work we have done to build Vince over the last 20 years and thrilled to focus on our strategic growth initiatives, including strengthening our operations and expanding our men’s offerings and international presence. We are confident that with Authentic’s proven know-how in brand building combined with our design and distribution expertise, Vince is poised for long-term growth.”

Working with the Vince Holding Corp. team, Authentic will connect its brands with best-in-class partners and a global network of operators, distributors and retailers to optimize value in the marketplace. The transactions are expected to close within 30 days.

Katten Muchin Rosenman LLP is serving as legal advisor to Authentic. Solomon Partners is serving as financial advisor and Ropes & Gray LLP is serving as legal advisor to Vince Holding Corp.

About the Author(s)

License Global

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