×
69 582
Fashion Jobs
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time - ny 59th st
Permanent · NEW YORK
SACK OFF 5TH
Asset Protection Guard
Permanent · FARMINGTON HILLS
JCREW
Merchandise Planner
Permanent · New York
MACY'S
Asset Protection Detective, Pleasanton Stoneridge - Part Time
Permanent · Pleasanton
MACY'S
Asset Protection Officer, West Virginia - Full Time (2840)
Permanent · Martinsburg
MACY'S
Asset Protection Investigator, West Virginia - Part Time (2840)
Permanent · Martinsburg
MACY'S
Asset Protection Detective, Coronado Center - Part Time
Permanent · Albuquerque
MACY'S
Asset Protection Detective, Roosevelt - Part Time
Permanent · Philadelphia
MACY'S
Asset Protection Officer, West Virginia - Part Time (2840)
Permanent · Martinsburg
MACY'S
Manager, Merchandise Execution
Permanent · Aventura
MACY'S
Manager, Asset Protection
Permanent · Capitola
MACY'S
Manager, Merchandise Execution
Permanent · Boca Raton
UNDER ARMOUR
Stock Teammate, Part-Time 5am Shift, $15 Per Hour
Permanent · TANNERSVILLE
UNDER ARMOUR
Stock Lead, ft
Permanent · WOODSTOCK
URBN
Assistant General Manager (m&v)
Permanent · GLEN MILLS
URBN
Free People Senior Merchandise Planner
Permanent · PHILADELPHIA
L'OREAL GROUP
Analyst - Supply Chain
Permanent · Streetsboro
L'OREAL GROUP
Payroll, Senior Business Analyst (IT Liaison) – l’Oreal Corporate Payroll
Permanent · St. Petersburg
L'OREAL GROUP
Senior Manager- Human Resources, Luxe Supply Chain
Permanent · South Brunswick Township
PRANA
Director, Strategic Accounts & Sales Business Development
Permanent · CARLSBAD
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time - Stanford
Permanent · PALO ALTO
ROSS
Store Protection Specialist
Permanent · Tampa
Published
Nov 6, 2019
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Vince completes acquisition of Rebecca Taylor, Parker

Published
Nov 6, 2019

New York-based luxury apparel and accessories company Vince Holding Corp. announced on Tuesday that it has acquired contemporary womenswear brands Rebecca Taylor and Parker for a total cash consideration of $19.7 million.


Vince sees Rebecca Taylor and Parker as complementary businesses - Instagram: @rebeccataylornyc

 
The deal’s total price tag reflected the payoff of $19.2 million of outstanding debt obligations related to Rebecca Taylor and Parker’s credit facility and a further $0.5 million in compensation expenses. Vince funded the acquisition with cash through its own existing revolving credit facility.
 
Combined net sales for Rebecca Taylor and Parker were around $84 million in the last fiscal year. The brands’ products are sold in high-end department and specialty stores around the globe, and through their own branded e-commerce sites. Rebecca Taylor also runs six brick-and-mortar retail locations.

Vince sees the two brands as complementary businesses, as they occupy different ends of the contemporary fashion spectrum and there is little price overlap in their products. Through the acquisition, the company expects to be able to double its revenue over the next few years compared to its initial guidance of between $295 million and $305 million for fiscal 2019.

Looking to the future, the company has plans to accelerate the expansion of its two new brands’ international expansion. At Rebecca Taylor, more specifically, Vince will be aiming to drive growth in its direct-to-consumer business through initiatives focused on both brick-and-mortar stores and e-commerce. The company will also be seeking to develop the brand’s rental business, Rebecca Taylor RNTD.
 
“We are excited to be creating a diversified portfolio of highly recognized and distinct contemporary brands with this acquisition,” said Vince CEO Brendan Hoffman in a release. “We see opportunity to accelerate growth in each of these brands by implementing the Vince strategic playbook to build direct-to-consumer strategies, further expand brand awareness, and leverage core competencies through the sharing of best practices.”
 
The acquisition is expected to be dilutive to Vince’s fiscal 2019 earnings. The company intends to provide further details on the financial implications of the deal when it reports its third-quarter results.
 
Vince posted net income of $1.0 million, or $0.08 per diluted share, in the second quarter ended August 3, 2019, on net sales of $71.4 million, which represented a 13% increase from the prior-year period.

Copyright © 2023 FashionNetwork.com All rights reserved.