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Vince Holding Corp. Changes Hands, Former CEO Brendan Hoffman to Return to the Helm

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Image courtesy Vince

Newly formed luxury apparel-focused innovation venture P180 has acquired Sun Capital Partners’ majority stake in Vince Holding Corp. (VNCE), giving it a 65% stake in the retailer.

P180 was co-founded by former Vince CEO Brendan Hoffman, who will become CEO of the brand again on Feb. 3, 2025. Hoffman previously served as CEO of Vince from 2015 to 2020 before leaving to lead Wolverine Worldwide, first as President and then CEO through August 2023. Vince’s Interim CEO David Stefko will step down from that role and resume his position on the brand’s board of directors.  

VNCE currently operates 47 full-price retail stores, 14 outlet stores and the brand’s ecommerce site. The brand also is sold in premium wholesale channels around the world and has a subscription service, Vince Unfold, that is operated by CaaStle. The other co-founder of P180 is the Founder and CEO of CaaStle, Christine Hunsicker.

“P180’s acquisition represents a transformative opportunity for VNCE,” said Michael Mardy, Chairman of VNCE in a statement. “With this transaction, we will gain the operational expertise and cutting-edge digital capabilities needed to drive the brand’s future success.”

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In 2023, VNCE sold the Vince intellectual property to Authentic Brands Group for $76.5 million and a 25% interest in a newly formed Authentic subsidiary, ABG Vince, in a bid to strengthen its finances. Authentic now holds a long-term license for Vince-branded products.

P180 was founded in 2024 with the aim of investing in or acquiring brands and retailers that stand to benefit from its digital expertise and inventory monetization capabilities. The VNCE acquisition marks P180’s third strategic deal, which also has included an investment in fashion label Altuzarra and a digital partnership with multi-brand premium retailer Elysewalker.

“VNCE is the perfect partner for P180; the brand’s dominance in the luxury contemporary market aligns seamlessly with our acquisition strategy,” said incoming Vince CEO and P180 Co-founder Hoffman in a statement. “In addition, as VNCE has evolved its operating model, we believe having access to the technology and team of CaaStle will further advance the company’s momentum in driving improved profitability while enhancing its omnichannel experience. I am excited to lead the team again as we continue to unlock new growth opportunities, drive innovation, enhance the brand’s market position and focus on monetizing the company’s inventory to ensure continued long-term success.”

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