Vince news and archive

Vince Holding: Sales decline but profit improves

For the third quarter, Vince Holding net sales decreased 4.7 percent to 80.2 million dollars driven by an 8.3 percent decrease in Vince brand direct-to-consumer sales and a 2.2 percent decrease in Vince brand wholesale sales. The company’s net income increased to 4.3 million dollars or 34 cents per diluted share, while adjusted net income was...

Business

Vince Holding posts Q2 net sales growth of 6.8 percent

Vince Holding’s net sales increased 6.8 percent to 74.2 million dollars driven by a 7 percent increase in Vince brand sales due to a 29.6 percent increase in the wholesale channel. The company said in a release that the growth in the wholesale channel more than offset the 18.1 percent decline in the direct-to-consumer channel which continued to...

BusinessFeatured

Vince Q1 net sales drop but profitability improves

Vince Holding Corp. reported a first quarter net sales decrease of 7.6 percent to 59.2 million dollars driven by a 7.5 percent decrease in Vince brand sales and the pullback in the off-price business within the wholesale channel. The company said in a release that gross margin improved 440 basis points, gross profit rose to 29.9 million dollars...

Business

Centric Brands and Authentic establish licensing deal for Vince accessories

Centric Brands has secured a licensing agreement for Vince accessories with the brand’s parent company Authentic Brands Group, which follows a third-party partnership model for its portfolio of brands. Through the deal, Centric Brands will oversee the design, manufacturing and distribution of Vince branded handbags, small leather goods and belts...

Business

Vince Holding is back in the black during 'transformation year'

US clothing supplier Vince Holding Corp. has returned to profitability in the 2023/24 financial year despite a significant drop in sales. The group "took the right steps" in a "year of transformation", explained interim CEO David Stefko in a statement published on Tuesday. The company had indeed made drastic changes to its business model: the...

People

Vince CEO Jack Schwefel steps down

Vince Holding chief executive officer Jack Schwefel has resigned from the company. The company’s board of directors has appointed David (Dave) Stefko, current director and former chief financial officer as interim CEO, effective immediately. “The Board thanks Jack for his work in positioning Vince for its next chapter of growth and wishes him...

People

Andrea O'Donnell to join Designer Brands as EVP and brands president

Designer Brands has appointed Andrea O'Donnell as brands president and executive vice president of the company, with her appointment to be effective as of January 29, 2024. As brands president, the company said, O'Donnell will be globally responsible for Designer Brands' full suite of owned and licensed brands, which includes Keds, Vince Camuto,...

Business|Interview Featured

Jack Schwefel, CEO at Vince: "We were a quiet luxury brand before the term became fashionable"

Vince is a brand that offers discreet, timeless luxury inspired by California. A brand that fits in perfectly with the quiet luxury trend. Vince is present in France through points of sale and a showroom, and aims to strengthen its offering in the country over the coming years. To find out more about the brand's development strategy,...

Business

Vince swings to profit in Q3

Vince Holdings’ third quarter gross profit for the quarter rose to 37.2 million dollars or 44.2 percent of net sales, while net income was 1 million dollars or 8 cents per diluted share and adjusted net income was 1.8 million dollars or 15 cents per share. However, the company’s net sales decreased 14.7 percent to 84.1 million dollars driven by...

Business

Vince Holding names John Szczepanski CFO

American retailer Vince Holding has announced the appointment of John Szczepanski as its new chief financial officer, effective January 2, 2024. He joins the company from Ralph Lauren, where he was most recently CFO, global supply chain, brands and the Lifestyle Group, prior to which he held a series of financial leadership positions supporting...

Business

Vince announces transformation plan to boost profitability

Vince Holding Corp. has announced a transformation program focused on driving enhanced profitability through an improved gross margin profile and optimised expense structure. The company said that the transformation efforts are expected to generate over 30 million dollars in savings over the next three years and the efforts will be led by...

Fashion

Authentic Brands Group awards Peerless licensing deal for Vince

Authentic Brands Group (Authentic), the global brand development, marketing and entertainment platform that owns men’s tailoring brand, Vince, has announced a long-term licensing partnership with Peerless to design, manufacture and distribute the brand. In a statement, Authentic said that Peerless will undertake the design of Vince’s men’s...