Authentic Brands Group reportedly completed the acquisition of the intellectual property of the Vince fashion brand.
Through the acquisition, Vince Holding Corp. (VNCE) contributed the Vince intellectual property to a newly formed Authentic subsidiary, ABG Vince, of which Authentic owns a majority stake of 75 percent, while VNCE retains 25 percent ownership.
“We are thrilled to officially welcome Vince into the Authentic fold,” said Jamie Salter, founder, chairman and CEO of Authentic. “The addition of Vince reinforces our position in the luxury sportswear market. Authentic’s proprietary platform and global network of best-in-class partners, together with the visionary expertise of the Vince Holding team, positions the brand for continued global expansion and success.”
In connection with the acquisition, Authentic also completed an exclusive, long-term agreement with VNCE, which is now the licensing partner for the brand’s core categories, to manage its 60-plus retail stores, current wholesale accounts and e-commerce operations.
“We are pleased to have successfully closed this transaction with Authentic, marking a transformative milestone for Vince,” said Jack Schwefel, CEO of VNCE. “We are now better positioned to enhance our focus on driving margin expansion and executing against our strategic growth initiatives.”
Authentic’s brand portfolio includes Marilyn Monroe, Elvis Presley, Muhammad Ali, Shaquille O’Neal, David Beckham, Dr. J, Greg Norman, Neil Lane, Thalia, Sports Illustrated, Reebok, Brooks Brothers, Barneys New York, Judith Leiber, Ted Baker, Vince, Hervé Léger, Hickey Freeman, Frye, Nautica, Juicy Couture, Vince Camuto, Lucky Brand, Aéropostale, Forever 21, Nine West, Eddie Bauer, Spyder, Volcom, Shark, Tretorn, Prince, Airwalk, Izod, Jones New York, Van Heusen, Hart Schaffner Marx, Arrow and Thomasville.