299
Fashion Jobs
L'OREAL GROUP
Assistant CRM Manager
Permanent · HONG KONG
L'OREAL GROUP
Key Account Manager
Permanent · HONG KONG
H&M
Total Rewards Manager, Supply Chain
Permanent · TSIM SHA TSUI
H&M
Accounts Specialist
Permanent · TSIM SHA TSUI
ESTÉE LAUDER COMPANIES
Assistant Demand Planning Manager
Permanent · HONG KONG
ESTÉE LAUDER - BRAND
Retail Marketing Manager, Estée Lauder
Permanent · HONG KONG
CLINIQUE
Assistant Education Manager, Clinique
Permanent · HONG KONG
CLINIQUE
Senior Marketing Manager, Clinique
Permanent · HONG KONG
TOMMY HILFIGER
Senior Manager, Creative Services, Tommy Hilfiger Asia Pacific
Permanent · HONG KONG
AESOP
Retail Consultant
Permanent · SHA TIN
NEWELL
Senior Manager, Indirect Sourcing
Permanent · HONG KONG
L'OREAL GROUP
Group Product Manager
Permanent · HONG KONG
ADIDAS
Senior Manager, Materials Availability Management
Permanent · HONG KONG
L'OREAL GROUP
Assistant Purchasing Manager (Marketing, Digital IT)
Permanent · HONG KONG
PUMA
Manager Innovation Technical Apparel
Permanent · HONG KONG
DR. MARTENS
Head of Financial Accounting, Apac
Permanent · TSIM SHA TSUI
TJX COMPANIES
Director of Sourcing, Apparel -Hong Kong
Permanent · HONG KONG
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Hysan Place
Permanent · CAUSEWAY BAY
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Yoho Mall
Permanent · HONG KONG
A & F
Abercrombie & Fitch - Brand Representative (Part-Time / Full-Time), Harbour City
Permanent · TSIM SHA TSUI
KERING EYEWEAR
Kering Eyewear Assistant Trade Marketing Manager Travel Retail
Permanent · HONG KONG
JAEGER
Training Manager
Permanent · HONG KONG
Published
May 30, 2023
Reading time
2 minutes
Download
Download the article
Print
Text size

Authentic finalizes acquisition of Vince

Published
May 30, 2023

Authentic Brands Group has successfully completed the acquisition of the intellectual property of the Vince brand, resulting in the establishment of a new subsidiary named ABG Vince.

Authentic finalizes acquisition of Vince. - Vince


Under the terms of the agreement, first announced in April, Vince Holding Corp. contributed the Vince intellectual property for a cash consideration of $76.5 million. Authentic now holds a majority stake of 75%, while Vince retains 25% 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.”

As part of the acquisition, Authentic is now the licensing partner for the brand’s core categories, and will manage its 60-plus retail stores, current wholesale accounts and e-commerce operations. The agreement spans an initial ten-year term with eight renewal options.

“We are pleased to have successfully closed this transaction with Authentic marking a transformative milestone for Vince,” added Jack Schwefel, chief executive officer of Vince. “With the proceeds from this transaction, we strengthened our financial foundation by repaying in full the outstanding balance of $27.7 million under our Term Loan Credit Facility as well as a portion of the outstanding borrowings under our Revolving Credit Facility. With a stronger balance sheet in place, we are now better positioned to enhance our focus on driving margin expansion and executing against our strategic growth initiatives.”

In the fiscal year of 2022, Vince Holding saw net sales rise by 10.8 percent to reach $357.4 million. The company achieved a gross profit of $138 million.

Copyright © 2024 FashionNetwork.com All rights reserved.