Vince Holding Corp. has acquired Rebecca Taylor and Parker from Sun Capital for $19.7 million.
The deal creates a portfolio of three contemporary yet distinct fashion brands under Vince Holding and adds $84 million in sales to the corporation.
“This is a great first acquisition,” Brendan Hoffman, chief executive officer of Vince, told WWD. “We believe we have the opportunity to double revenue for the company over time with the combination of this acquisition and the continued execution of growth initiatives under way at the Vince brand.
“While the three brands sit near each other on the contemporary floors, their price points are different. Their aesthetics are very different. They speak to different customers, which is not to say there isn’t some overlap. To the consumer, they will continue to be separate,” Hoffman said. “We will look to see what operational synergies there are.”
Hoffman said he’ll be implementing the Vince “strategic playbook” at Rebecca Taylor and Parker to build direct-to-consumer strategies, grow brand awareness and leverage core competencies across the brands. “There will be a sharing of best practices,” Hoffman said. “We will see where there are opportunities to leverage the brands together. There are no changes for now.”
Janice Sullivan serves as ceo
Vince Buys Rebecca Taylor and Parker
Image Courtesy of Courtesy Photo
