Authentic Brands Group to acquire Vince, plans key market expansion

In a new development of its ongoing acquisition streak, Authentic Brands Group has now announced that it has entered into a definitive agreement to acquire the intellectual property of the luxury brand Vince.

The group, which owns the rights to the likes of Juicy Couture, Ted Baker and, most recently, Quiksilver, has made an agreement with the label’s parent company Vince Holding Corp (VNCE) to snap up Vince.

Through the deal, VNCE will move its intellectual property to ABG Vince, a newly-formed subsidiary of Authentic, of which the group will own a 75 percent stake, while VNCE will retain 25 percent.

Next to this, VNCE has also agreed to a long-term licensing deal which will see it operate its existing business in a manner consistent with Authentic’s current wholesale, retail and e-commerce operations.

Bolstered luxury portfolio

In a release, Jamie Salter, Authentic’s founder, chairman and CEO, said: “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.

“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.”

Vince, which offers ready-to-wear, footwear and accessories for both men and women, currently operates over 60 retail stores and wholesale accounts, as well as an e-commerce site and rental subscription service, Vince Unfold.

The brand noted that its current store footprint will stay intact, however Authentic is planning to expand the brand into key luxury markets.

The acquisition follows a growing line up of brands recently snapped up by the rapidly growing Authentic, with the group having most recently struck up deals with Boardriders, to takeover its line up of sports brands, which includes Roxy, Quiksilver and Billabong.