Vince Holding Corp's entry into the stock market a success

Vince, the American luxury company, saw its shares go up

50 percent in its market debut last week Friday, to approximately 1.08 billion dollars.

Shares opened at 29.50 dollars and went up to 29.97 dollars on the New York Stock exchange on Friday, with over 4 million shares being traded, which made Vince one of the most traded stocks on the market, according to Reuters.

The company, which is controlled by private equity firm Sun Capital Partners, raised 200 million dollars afters its IPO was priced at 20 dollars a share. Vince, which used to be known as Apparel Holding Corp, sold all 10 millions shares in the offering. Following the IPO, Sun Capital still has a 68 percent stake in the company.

Vince was founded in 2002 and is known for its affordable luxury pieces, such as its cashmere sweaters and leather jackets. The company currently owns 21 retail stores and 6 outlet points, mainly found in the US and is sold through exclusive stockists around the world, such as Harrods and Harvery Nichols in London.