Ropes & Gray Advises Vince Holding on Majority Stake Sale to P180.

Ropes & Gray has acted as legal advisor to Vince Holding Corp. in the sale of a majority stake in the company to P180, a newly established luxury apparel venture. This significant transaction, known as the “P180 Acquisition,” will see P180 acquire a controlling interest in Vince Holding Corp. (NYSE: VNCE), a global retailer renowned for its contemporary fashion offerings. The acquisition comes from affiliates of Sun Capital Partners, Inc. (Sun Capital), the previous majority owners of VNCE.

As part of the deal, Brendan Hoffman is set to become the Chief Executive Officer of Vince Holding Corp. on February 3, 2025, pending the finalisation of his employment agreement. Following this change, David Stefko, the current Interim CEO of VNCE, is expected to resign from his role, although he will remain on the board of directors. Matthew Garff has also stepped down from the VNCE Board in connection with the acquisition.

“VNCE is the perfect partner for P180; the brand's dominance in the luxury contemporary market aligns seamlessly with our acquisition strategy. In addition, as VNCE has evolved its operating model, we believe having access to the technology and team of CaaStle, founded by Christine Hunsicker, my co-founder at P180, will further advance the company’s momentum in driving improved profitability while enhancing its omni-channel experience,” said Brendan Hoffman, who will return to lead the company.

“Personally, I have a strong connection to the Vince brand, having served as VNCE CEO for five years. I am excited to lead the team again as we continue to unlock new growth opportunities, drive innovation, enhance the brand's market position, and focus on monetizing the company’s inventory to ensure continued long-term success.”

Michael Mardy, Chairman of Vince Holding Corp., commented on the deal: “P180's acquisition represents a transformative opportunity for VNCE. With this transaction, we will gain the operational expertise and cutting-edge digital capabilities needed to drive the brand's future success. On behalf of the Board and the organization, I would also like to thank Dave for stepping into the interim CEO role for the past year. Through his leadership, the company has continued to execute and deliver results by operating a healthier full-price model. We are glad to have Dave remain on the Board and are excited to welcome Brendan back to lead the organization into its next chapter.”

The legal team at Ropes & Gray that advised Vince Holding Corp. in this transaction was led by capital markets partner Craig Marcus, finance partner Michael Lee, IP transactions partner Erica Han, and private equity partner Patrick Dorime.

Vince is a global retailer known for its luxury contemporary fashion, offering a wide range of high-quality apparel, footwear, and accessories for both men and women. The brand is recognised for its understated elegance and timeless style, blending modern sophistication with relaxed, everyday essentials. Vince's collections are crafted with premium materials and designed to reflect a modern, refined aesthetic. Established in 2002, the brand operates both physical retail stores and an online presence, catering to fashion-conscious customers worldwide. With a focus on quality and craftsmanship, Vince continues to be a leading name in luxury fashion.

P180 is a new luxury apparel venture co-founded by Christine Hunsicker, an experienced entrepreneur in fashion and retail. The venture focuses on enhancing growth and profitability in the luxury sector through strategic acquisitions and a tech-driven approach. P180 aims to drive innovation, improve omni-channel experiences, and leverage operational expertise to scale luxury brands. With Hunsicker’s background as the founder of CaaStle, P180 is set to reshape the future of luxury fashion with a modern, digital-first strategy.

Ropes & Gray is a global law firm providing comprehensive legal services to clients across a wide range of industries. With a reputation for excellence, the firm is known for its expertise in areas such as corporate law, private equity, M&A, intellectual property, litigation, regulatory matters, and finance. Founded in 1865, Ropes & Gray has grown to include offices in major cities around the world, including New York, London, Hong Kong, and Boston.

The firm serves a diverse clientele, including multinational corporations, financial institutions, and government entities, helping them navigate complex legal challenges. Ropes & Gray is also recognised for its commitment to pro bono work, diversity, and inclusion, ensuring that its values extend beyond the courtroom. With a team of skilled professionals and a client-centric approach, Ropes & Gray remains a leader in the legal industry.

The Top Paying Law Firms of 2024