Vince Holding Corporation has transferred a significant share of its ownership to P180, and the previous CEO of the company has made a comeback.
In a significant move for the fashion industry, retail innovation firm P180 has announced the acquisition of a majority stake in Vince Holding Corp. This development, effective as of February 3, 2025, marks a new chapter for the iconic fashion brand.
The sale, which was reported by Laurel Deppen in her article on January 8, 2025, has provided Vince Holding Corp. with a substantial cash injection of $76.5 million and increased financial flexibility. The transaction, which saw the majority of shares change hands, was primarily facilitated by TowerBrook Capital Partners following the sale of the Vince brand naming rights to Authentic Brands Group in the previous year.
Affiliates of Sun Capital continue to own about 2% of Vince's stock, while P180 now owns approximately 65%. David Stefko, who served as CEO in an interim capacity since March 2024, will return to the board of directors. Michael Mardy, Chairman of Vince, sees this new ownership as a transformative opportunity for the company.
The acquisition follows Vince's initiation of a transformation program in 2023, aimed at boosting its profitability and saving $30 million over the following three years. The program was expected to provide Vince with operational expertise and cutting-edge digital capabilities, a promise now amplified by P180's involvement.
Brendan Hoffman, co-founder of P180 and former CEO of Vince and Wolverine World Wide, will return to the CEO position at Vince. This move signals a return to the brand for Hoffman, who led Vince from 2015 to 2020. John Szczepanski, who became Vince's CFO in January 2024, will continue to play a crucial role in the company's leadership.
This is not the first major retail investment for P180 since its launch in 2024. The firm has previously invested in Altuzarra and Elysewalker, indicating a strategic focus on shaping the future of the fashion industry.
In a related development, Lara Ewen reported in her article on August 4, 2023, that Authentic Brands Group had partnered with a manufacturer on Vince menswear. The specifics of this partnership are yet to be fully disclosed, but it is clear that the future of Vince Holding Corp. is poised for exciting changes under its new ownership.
For those interested in learning more about these developments, we recommend reading Laurel Deppen's article on the five fashion industry trends to watch in 2025, as well as Lara Ewen's article on Authentic's partnership with the Vince menswear manufacturer.
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