VNCENasdaqRetail-Apparel & Accessory StoresUS GAAP · USD

Vince Holding Corp

Vince Holding Corp. is a U.S.-based apparel company centered on the Vince brand, which sells women’s and men’s ready-to-wear clothing, footwear, and accessories. The business reaches customers through company-operated retail stores, outlet stores, e-commerce, a subscription service, and premium wholesale channels in the U.S. and select international markets.

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Revenue300m USD
+2.2 %y/y
Operating profit (EBIT)9.2m USD
+153.8 %y/y
EBIT margin3.1%
+8.9 ppy/y
Net income6.4m USD
+133.5 %y/y

Fiscal year 2026 · change from previous year

Development 2021–2026

-1000100200300400m USD2021: 220 m USD2021: EBIT -61 m USD20212022: 323 m USD2022: EBIT 0.48 m USD20222023: 357 m USD2023: EBIT -25 m USD20232024: 293 m USD2024: EBIT 32 m USD20242025: 293 m USD2025: EBIT -17 m USD20252026: 300 m USD2026: EBIT 9.2 m USD20263009.2
RevenueOperating profit (EBIT)

Business

Share of revenue
Wholesale56 %

Sales of Vince products to department stores and specialty retailers in the U.S. and select international markets.

Direct-to-consumer44 %

Sales through company-operated stores, outlet stores, e-commerce, and the Vince Unfold subscription service.

Customers

Vince sells primarily to affluent consumers seeking understated luxury apparel with a premium fit and design aesthetic. Its wholesale customers are major department stores and specialty retailers, while direct-to-consumer sales come from shoppers buying through stores, online, and subscription channels.

Wholesale retail partners

Major department stores and specialty stores that buy Vince merchandise for resale and brand assortment.

Direct-to-consumer shoppers

Consumers purchasing through Vince stores, outlet locations, and e-commerce for full-price brand access.

Subscription customers

Customers using Vince Unfold for recurring access to Vince products and brand engagement.

International wholesale customers

Retail partners in select overseas markets that buy Vince through global wholesale channels.

Strategy

Vince’s strategy centers on maintaining a premium brand position while balancing wholesale and direct-to-consumer channels. The company is also investing in omni-channel capabilities, customer-facing technology, and a more focused wholesale footprint to support brand control and customer engagement.

Expand direct-to-consumer capabilitiesMedium term

Stores, e-commerce, and subscription channels give the company more control over brand presentation and customer relationships.

Maintain a selective wholesale modelMedium term

A smaller set of wholesale partners can improve brand discipline and reduce dependence on broad distribution.

Invest in omni-channel and customer technologyMedium term

Integrated systems help connect stores, e-commerce, and customer data to support repeat purchases.

Geography

Vince is headquartered in New York and designs its products in the United States. The company sources most of its merchandise from contract manufacturers outside the U.S., primarily in Asia, and supports international wholesale through distribution centers in Hong Kong and Belgium.

Risks

Vince faces concentration risk in wholesale, brand-licensing constraints, and exposure to tariff and sourcing disruption because most products are manufactured outside the U.S. The business also depends on fashion demand, inventory planning, lease commitments, and accounting estimates such as returns, chargebacks, and goodwill impairment.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Tariffs and trade policy changes1Wholesale customer concentration2Brand licensing and approval rights3Fashion demand and inventory risk4Supply chain and sourcing disruption5
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Tariffs and trade policy changesImpact: HighLikelihood: High

    The company sources most products from Asia, so import duties and trade restrictions can affect landed costs and margins.

    Exposure: Imported apparel and accessories

  2. Wholesale customer concentrationImpact: HighLikelihood: Medium

    One wholesale partner, Nordstrom, represented a large share of net sales in recent years, creating dependence on a small number of accounts.

    Exposure: Nordstrom and other major department stores

  3. Brand licensing and approval rightsImpact: HighLikelihood: Medium

    ABG Vince controls key brand approvals and can influence design, customer accounts, and retail locations.

    Exposure: Licensed brand usage and expansion

  4. Fashion demand and inventory riskImpact: HighLikelihood: Medium

    Apparel demand is seasonal and trend-driven, so weak sell-through can lead to markdowns and excess inventory.

    Exposure: Retail and wholesale inventory

  5. Supply chain and sourcing disruptionImpact: MediumLikelihood: High

    Reliance on contract manufacturers outside the U.S. increases exposure to logistics delays, geopolitical issues, and supplier concentration.

    Exposure: Asia-based manufacturing

Accounting

Judgemental items
Revenue recognition and reserves for allowances

The company estimates discounts, chargebacks, markdown allowances, cooperative advertising, and returns, which directly affect net sales and receivables.

Impact: Can shift reported revenue and accounts receivable

Goodwill impairment

The wholesale reporting unit was written down after annual impairment testing, showing that valuation assumptions can materially affect earnings.

Impact: Can create large non-cash impairment charges

Lease accounting

Store and outlet locations create operating lease assets and liabilities that affect occupancy-related expenses and leverage presentation.

Impact: Affects balance sheet size and operating cost profile

Inventory and markdown exposure

Fashion inventory must be valued carefully because excess stock may require markdowns or reserves.

Impact: Can affect gross margin and working capital

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Last updated: 24/09/2026