Vince continues to see direct-to-consumer success with holiday sales
today Jan 15, 2019
Global luxury apparel and accessories brand Vince Holding Corp. has announced net sales growth of 11.9% for the nine-week period ended January 5, 2019, when compared to the same period last year.
The New York-headquartered company further announced that its direct-to-consumer segment sales increased 13.2% driven by comparable sales growth of 8.2%.
On a shifted basis, the brand's comparable sales increased 6.3%.
According to Vince executives, the retailer's direct-to-consumer segment continues to lead the company's progress, following a 17.1% rise in direct-to-consumer sales and a 14.1% increase in comparable sales in the third quarter.
"We saw solid sales performance during the holiday season as new product continues to be well-received by customers in our direct-to-consumer and wholesale segments," said Brendan Hoffman, the brand's chief executive officer, in a press release. "In our wholesale segment, we are seeing market share gains within our accounts as evidenced by double-digit sales growth at the retail level. We remain focused on advancing the strategic initiatives that we believe will enable us to deliver long term sustainable growth.”
The company also announced that it has conducted four net store openings since the end of Q4 2017.
Vince further expanded its services in November when it launched subscription and rental service, Vince Unfold.
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