Reports Q4 revenue $91.31M, one estimate $96M. Jack Schwefel, Chief Executive Officer of VNCE said, "We are pleased to enter into this transformative partnership with Authentic which will provide us the necessary capital to strengthen our balance sheet allowing for opportunities to enhance our focus on driving margin expansion, and focusing on our strategic growth initiatives including leveraging our enhanced e-commerce capabilities and CDP platform, expanding our international presence, growing our Men’s business and selectively opening new retail doors in the U.S. Through this strategic partnership we will also benefit from leveraging Authentic’s expertise and Lifestyle and Entertainment platforms, which provide opportunities to grow the Vince brand into adjacent categories and territories." "We are excited to partner with Jack and the VNCE management team as we expect to mutually benefit from the strength of the Vince brand that has been developed over the past 20 years," said Jamie Salter, Founder, Chairman and CEO of Authentic. "The addition of another luxury brand to our formidable portfolio is timely as we see demand for luxury goods growing in key markets around the world."
Published first on TheFly
