Economy, schmonomy. Vince is growing!
Vince may have made a name for itself with it’s line of luxury basics like fitted T-shirts and cashmere sweaters, but now, with a new owner (Sun Capital Partners Inc. purchased Vince owner Kellwood in February for $762 million), Vince is expanding and
introducing categories such as swimwear, handbags, shoes and eyewear. A
denim line may also be in the works.
After opening its first shop on Robertson Boulevard in L.A. in March, the
Angeles-based brand launched a store on Melrose Place in September and a new e-commerce site. In December, Vince
plans to open another store at 833 Washington Street in
Manhattan’s Meatpacking District and a third California location at
the Malibu Country Mart in June.
Next year, the brand wants to
open another 10 stores, including its first international store in
However, Vince’s ambitions
face the most serious financial crisis since the Great Depression.
Intensifying the pressure, Kellwood’s new ceo, Michael Kramer, who has
said he can turn around the company in two to three years, has
projected that Vince’s domestic sales can grow to four to five times
the current wholesale volume.
Read "Kellwood’s Big Plans for Vince" here.
Source & Photo: WWDSee the Top Ten Summer 2016 Trends for Women Over 40