By Allison Watkinson
TLL Reporter
Authentic Brands Group has entered into a definitive agreement with Vince Holding Corp. to acquire the company’s luxury lifestyle brand, Vince.
Authentic Brands Group is a brand development, marketing and entertainment platform. The company currently owns over 40 lifestyle, entertainment and media brands.
“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,” said Authentic Brands CEO, Jamie Salter. “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.”
Through the agreement, Vince Holding Corp will contribute its Vince IP to the newly-formed Authentic subsidiary, ABG Vince.
Authentic Brands will own a majority stake of 75% of the ABG Vince subsidiary while Vince Holding Corp. will retain 25% ownership.
Vince Holding Corp. is also entering into a long-term licensing agreement with Authentic to operate VNCE’s existing wholesale, retail and ecommerce business operations.
Update: Authentic Brands Group Signs Agreement to Acquire Boardriders
The Vince luxury brand features high-quality, ready-to-wear apparel, footwear, and accessories with a minimalist design. Vince products are available to consumers through the brand’s retail stores, wholesale accounts, and its newly re-platformed e-commerce website, Vince Unfold.
Upon the closing of the acquisition, Authentic intends to work with the Vince Holding team to expand the brand into additional luxury markets and product categories.
“We are pleased to partner with Authentic and unlock the great potential there is for the Vince brand,” said Vince Holding Corp. CEO, Jack Schwefel. “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,” added Schwefel.
Vince Holding Corp.’s financial advisor for the licensing acquisition is Solomon Partners and its legal advisor is Ropes & Gray LLP. Katten Muchin Rosenman LLP is serving as legal advisor to Authentic Brands Group.
Apparel: Authentic and Versa Partner on Geoffrey Beene Collection