The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
NEW YORK, United States — Apparel Holding Corp., the clothing designer that's backed by Sun Capital Partners Inc., is seeking as much as $190 million from an initial public offering of its luxury brand Vince.
The company, which will be renamed Vince Holding Corp., is offering 10 million shares for $17 to $19 apiece, according to a regulatory filing today. It plans to list on the New York Stock Exchange under the symbol VNCE.
Sun Capital will keep control of Apparel’s non-Vince businesses, including Rebecca Taylor and My Michelle, the filing showed.
The Bloomberg Americas Apparel Index, with members from Ralph Lauren Corp. to Michael Kors Holdings Ltd., is trading near record highs. Vince, would have a market value of $689 million at the high end of the marketed range.
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Adjusted for the separation from Apparel Holding, Vince’s sales rose 27 percent to $114.7 million in the six months to Aug. 3, the filing showed.
Goldman Sachs Group Inc and Robert W. Baird & Co. are managing the IPO.
By Leslie Picker; Editors: Mohammed Hadi, Cecile Daurat, Jeffrey McCracken
From analysis of the global fashion and beauty industries to career and personal advice, BoF’s founder and CEO, Imran Amed, will be answering your questions on Sunday, February 18, 2024 during London Fashion Week.
The State of Fashion 2024 breaks down the 10 themes that will define the industry in the year ahead.
Imran Amed reviews the most important fashion stories of the year and shares his predictions on what this means for the industry in 2024.
After three days of inspiring talks, guests closed out BoF’s gathering for big thinkers with a black tie gala followed by an intimate performance from Rita Ora — guest starring Billy Porter.