Under the agreement, VNCE will contribute its intellectual property to a newly formed ABG subsidiary, ABG Vince, of which ABG will own a majority stake of 75%, while VNCE will retain 25% ownership.
The two companies will also enter into a long-term licensing agreement under which ABG will operate VNCE’s existing business in a manner consistent with its current wholesale, retail and ecommerce operations.
Vince offers women’s and men’s ready-to-wear, footwear and accessories with more than 60 retail stores as well as an e-commerce and rental subscription platform, Vince Unfold.
“We are pleased to bring this luxury lifestyle brand into the fold and partner with the Vince management team on the brand’s next phase of growth,” said ABG CEO Jamie Salter.
“The addition of Vince strategically expands Authentic’s portfolio of globally renowned Luxe brands. We see significant opportunities to expand Vince’s offerings to meet the growing demand for premium and luxury goods around the world.”