Vince Holding Corp. announces positive holiday report

By

Cassidy Mantor

Published
Jan 10, 2018

Vince Holding Corp. announced its holiday comparable sales for full price store sales and eCommerce for the nine weeks ending December 30th, 2017 were up 15.9%. Direct-to-consumer sales including outlets were up 8.8%.

Merchandise margin increased slightly over the same period last year due to improved full price sell-through. Wholesale sales were slightly down for the same period as a result of timing of shipments.

Brendan Hoffman, Chief Executive Officer, said the company is pleased with its holiday sales performance which carried the momentum Vince saw at the end of Q3.

Hoffman said, "The new product is resonating with our customers and driving double digit comparable sales growth in our full price direct-to-consumer channels."

Hoffman explained that the improved sell-through at wholesale partner channels indicates a positive 2018 performance. He said, "We are working very closely with the wholesale partners we are exiting to ensure a smooth transition while protecting our brand equity."

Hoffman concluded that "Overall, we are excited about the momentum in our direct-to-consumer business and signs that we are beginning to recapture market share in existing wholesale doors.”

Founded in 2002, Vince Holding Corp. operates the Vince luxury brand through 2,400 distribution locations across more than 40 countries. Vince corporate headquarters are located in New York and its design studio is in Los Angeles. The company operates 41 full-price retail stores, 14 outlet stores and its e-commerce site.