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Vince Holding Corp (VNCE) delivers contemporary luxury through its minimalist California-inspired designs and premium wholesale/retail channels. This news hub provides investors and industry professionals with essential updates on the company's financial performance, strategic initiatives, and market position.
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Vince Holding Corp. (VNCE) has announced a strategic partnership with Authentic Brands Group, involving the contribution of its intellectual property to a new subsidiary, ABG Vince. The deal is worth $76.5 million in cash and a 25% membership interest in the subsidiary. VNCE plans to utilize these funds to improve liquidity, refinance its $27.7 million Term Loan, and reduce some borrowings under its Revolving Credit Facility. An exclusive, long-term License Agreement will allow VNCE to continue using the intellectual property for its operations while paying royalties. The partnership aims to enhance VNCE's growth prospects, particularly in e-commerce and international markets. The transaction is expected to close by Q2 2023, subject to standard conditions.