Vince Holding announced that it will be implementing a transformation program focused on driving enhanced profitability through an improved gross margin profile and optimized expense structure. The transformation program is focused on improving the company’s gross margin profile and driving cost efficiencies through, among other things: Streamlining manufacturing and production operations; Reducing promotional activity and optimizing breadth and depth of markdowns and enhancing efficiencies within store operations, corporate overhead and third-party spend. The transformation efforts are expected to generate over $30M in savings over the next three years. The efforts will be led by Heather Wilberger, Vince’s chief transformation and information officer, who reports directly to Schwefel.
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