Authentic Brands Group acquires Vince’s IP for £61m

Authentic Brands Group (ABG), owner of Ted Baker and Quicksilver, has struck a deal to acquire Vince’s intellectual property (IP) after the womenswear business suffered financial losses.

ABG is a global brand management company, which owns, manages, and seeks to elevate the long-term value of a global portfolio of brands. For over a decade, ABG has acquired majority ownership interests in over 50 brands including Reebok, Nautica, and Juicy Couture.

Vince Holding Corp. will move Vince’s intellectual property to a newly formed subsidiary controlled by Authentic Brands Group. In return, Vince will receive a £61.4 million ($76.5 million) payout from ABG. The 25% ownership stake in the subsidiary will be known as ABG Vince.

ABG will have majority ownership of 75% and the remaining 25% will be retained by Vince.

Vince, the luxury womenswear label, reported grave financial losses for the fiscal year 2022. The company saw a 7.8% decline in sales in Q4, ending 28 January 2023.

Jack Schwefel, CEO of Vince, said: "We are pleased to partner with Authentic and unlock the great potential there is for the Vince brand.

"I’m very proud of the work we have done to build Vince over the last 20 years and thrilled to focus on our strategic growth initiatives, including strengthening our operations and expanding our men’s offerings and international presence. We are confident that with Authentic’s proven know-how in brand building combined with our design and distribution expertise, Vince is poised for long-term growth."

ABG is rapidly expanding its portfolio. Just last month, it made a binding offer to purchase Boardriders, which has a portfolio of brands including Quiksilver, Billabong, and Roxy. Through this acquisition, Authentic will strategically diversify its portfolio with the addition of some of the most well-known brands in boardsports.

Jamie Salter, Founder and CEO of ABG, commented: "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."