Authentic Brands Group Finalizes Acquisition of Luxury Lifestyle Brand Vince Intellectual Property
Authentic Brands Group (Authentic), a global brand development, marketing and entertainment platform, today announced that it has completed the acquisition of the intellectual property of the Vince brand. Through the agreement, Vince Holding Corp. (VNCE) has contributed the Vince intellectual property to a newly formed Authentic subsidiary, ABG Vince, of which Authentic owns a majority stake of 75%, while VNCE 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.”
In connection with the acquisition, Authentic has also completed an exclusive, long-term agreement with VNCE, which 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. Working closely with the VNCE team, Authentic will take a page from its proven playbook, which connects strong brands with best-in-class partners and a global network of operators, distributors and retailers to optimize value in the marketplace.
“We are pleased to have successfully closed this transaction with Authentic, marking a transformative milestone for Vince,” said Jack Schwefel, Chief Executive Officer of VNCE. “We are now better positioned to enhance our focus on driving margin expansion and executing against our strategic growth initiatives.”
Vince Holding Corp. has released a separate announcement, which can be viewed at http://investors.vince.com/.
ABOUT AUTHENTIC BRANDS GROUP
Authentic Brands Group (Authentic) is a global brand development, marketing and entertainment platform, which owns a portfolio of more than 40 iconic and world-renowned Lifestyle, Entertainment and Media brands. Headquartered in New York City, with offices around the world, Authentic connects strong brands with best-in-class partners and a global network of operators, distributors and retailers to build long-term value in the marketplace. Its brands generate approximately $25 billion in global annual retail sales and have an expansive retail footprint in more than 150 countries, including 10,800-plus freestanding stores and shop-in-shops and 380,000 points of sale.
Authentic is committed to transforming brands by delivering powerful storytelling, compelling content, innovative business models and immersive experiences. It creates and activates original marketing strategies to drive the success of its brands across all consumer touchpoints, platforms and emerging media. 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®.
For more information, visit authentic.com.
