Skip to main content

Vince acquired; former CEO to return

Brendan Hoffman, CEO, Vince
Brendan Hoffman is expected to return as CEO of Vince.

A company founded in 2024 has acquired Vince Holding Corp.

Vince has been acquired by P180, a new venture focused on accelerating growth and profitability in the luxury apparel sector. Co-founded by Christine Hunsicker (founder and CEO of CaaStle) and former Vince CEO Brendan Hoffman, P180 acquired a majority stake in the brand from affiliates of Sun Capital Partners.

As part of the deal, Hoffman, who led Vince from 2015 to 2020, is expected to return as CEO on or around Feb. 3, subject to finalization of his employment terms. With the change, David Stefko is expected to step down as interim CEO of Vince. He will remain on the board.

In addition, Matthew Garff resigned from the board.

"Vince is the perfect partner for P180; the brand's dominance in the luxury contemporary market aligns seamlessly with our acquisition strategy,” said Hoffman. "Personally, I have a strong connection to the Vince brand, having served as Vince CEO for five years. I am excited to lead the team again as we continue to unlock new growth opportunities, drive innovation, enhance the brand's market position, and focus on monetizing the company’s inventory to ensure continued long-term success."

Advertisement - article continues below
Advertisement

The acquisition marks the third deal for P180 since is was founded in 2024. In October, the company acquired premium fashion label Altuzarra. Prior to that, the firm invested and entered in a partnership with Elysewalker.

"P180's acquisition represents a transformative opportunity for Vince,” said Michael Mardy, chairman of Vince. “With this transaction, we will gain the operational expertise and cutting-edge digital capabilities needed to drive the brand's future success.”

In April 2024, Authentic Brands Group entered into a partnership with Vince Holding Corp. to acquire the Vince brand intellectual property. Under the terms of the agreement, the Vince brand will operate within a subsidiary in Authentic called ABG Vince.

In connection with the partnership, the two companies signed a 10-year license that will allow Vince to continue running its current operations with the option for eight 10-year renewals.  

Founded in 2020, Vince operates 47 full-price retail stores, 14 outlet stores and an e-commerce site. It also is distributed through premium wholesale channels globally. 

X
This ad will auto-close in 10 seconds