Vince Announces Appointment of Jack Schwefel as Chief Executive Officer
08 Março 2021 - 6:15PM
Business Wire
Vince Holding Corp. (NYSE: VNCE), a leading global contemporary
group, today announced the appointment of Mr. Jack Schwefel as the
Company’s Chief Executive Officer (“CEO”) effective March 29, 2021.
Mr. Schwefel, who will be based at the Company’s New York
headquarters, will replace Mr. David Stefko who has served as
Interim CEO since August 28, 2020. Mr. Stefko will continue to
serve as Executive Vice President, Chief Financial Officer of the
Company.
Prior to joining Vince, Mr. Schwefel served as the Chief
Executive Officer of Cost Plus, Inc. from 2017 to 2021 where he
transformed the organization with a focus on omni-channel
performance, data-driven merchandising and marketing and
partnerships. Prior to Cost Plus, from 2014 until 2017, Mr.
Schwefel served as the Chief Executive Officer for Dutch Fashion,
LLC, where he initially started out as a member of the Board of
Directors in 2012. At Dutch Fashion, Mr. Schwefel quickly expanded
the retail division across all three brands: Joie, Equipment and
Current/Elliott and relaunched Current/Elliott Men. Previously to
this, Mr. Schwefel served as the Chief Executive Officer of Sur La
Table, Inc. from 2006 until 2014. Leading up to this position, Mr.
Schwefel held various executive and senior management positions
both domestically and internationally at multiple brands, including
Gap, Esprit, Kohl’s and Toys “R” Us. Mr. Schwefel brings to the
Board of Directors extensive executive leadership experience in
retail business for national and international brands.
Marc Leder, Chairman of the Board, commented, “We are delighted
to announce the appointment of Jack as the CEO of Vince Holding
Corp. His strong track record of driving profitable growth combined
with his expertise in developing and implementing omni-channel
strategies will be ideal to continue to grow Vince. We would also
like to thank Dave Stefko for his exceptional leadership as interim
CEO and look forward to his continued contributions as chief
financial officer.”
Mr. Schwefel commented, “I am thrilled to be joining the Company
at this exciting time as we execute the next phase of growth for
the Vince brand and continue to advance the progress made at
Rebecca Taylor. These are two incredible brands with tremendous
potential, which are supported by extraordinary creative
leadership. I look forward to working with the teams to further
strengthen the foundation and drive the strategies to deliver long
term profitable growth for our shareholders.”
ABOUT VINCE HOLDING CORP.
Vince Holding Corp. is a global contemporary group, consisting
of three brands: Vince, Rebecca Taylor and Parker. Vince,
established in 2002, is a leading global luxury apparel and
accessories brand best known for creating elevated yet understated
pieces for every day effortless style. Known for its range of
luxury products, Vince offers women’s and men’s ready-to-wear,
footwear and accessories through 49 full-price retail stores, 15
outlet stores, and its e-commerce site, vince.com and through its
subscription service Vince Unfold, www.vinceunfold.com, as well as
through premium wholesale channels globally. Rebecca Taylor,
founded in 1996 in New York City, is a high-end women’s
contemporary lifestyle brand inspired by beauty in the everyday.
The Rebecca Taylor collection is available at 10 retail stores,
through our e-commerce site at rebeccataylor.com and through its
subscription service Rebecca Taylor RNTD,
www.rebeccataylorrntd.com, as well as through high-end department
and specialty stores in select international markets. Parker,
founded in 2008 in New York City, is a contemporary women’s fashion
brand that is trend focused. The Parker collection is available at
high-end department and specialty stores in select international
markets. Please visit www.vince.com for more information.
This press release is also available on the Vince Holding Corp.
website (http://investors.vince.com/).
Forward-Looking Statements: This document, and any statements
incorporated by reference herein, contains forward-looking
statements under the Private Securities Litigation Reform Act of
1995. Forward-looking statements include statements regarding,
among other things, our current expectations about the Company's
future results and financial condition, revenues, store openings
and closings, margins, expenses and earnings and are indicated by
words or phrases such as “may,” “will,” “should,” “believe,”
“expect,” “seek,” “anticipate,” “intend,” “estimate,” “plan,”
“target,” “project,” “forecast,” “envision” and other similar
phrases. Although we believe the assumptions and expectations
reflected in these forward-looking statements are reasonable, these
assumptions and expectations may not prove to be correct and we may
not achieve the results or benefits anticipated. These
forward-looking statements are not guarantees of actual results,
and our actual results may differ materially from those suggested
in the forward-looking statements. These forward-looking statements
involve a number of risks and uncertainties, some of which are
beyond our control, including, without limitation: the impact of
the novel coronavirus (COVID-19) pandemic on our business, results
of operations and liquidity; our ability to continue having the
liquidity necessary to service our debt, meet contractual payment
obligations, and fund our operations; changes in global economics
and credit and financial markets; the expected effects of the
acquisition of the Acquired Businesses on the Company; our ability
to integrate the Acquired Businesses with the Company, including
our ability to retain customers, suppliers and key employees; our
ability to realize the benefits of our strategic initiatives; our
ability to maintain our larger wholesale partners; the loss of
certain of our wholesale partners; our ability to make lease
payments when due; the execution and management of our retail store
growth plans; our ability to expand our product offerings into new
product categories, including the ability to find suitable
licensing partners; our ability to remediate the identified
material weakness in our internal control over financial reporting;
our ability to optimize our systems, processes and functions; our
ability to mitigate system security risk issues, such as cyber or
malware attacks, as well as other major system failures; our
ability to comply with privacy-related obligations; our ability to
comply with domestic and international laws, regulations and
orders; changes in laws and regulations; our ability to ensure the
proper operation of the distribution facilities by third-party
logistics providers; our ability to anticipate and/or react to
changes in customer demand and attract new customers, including in
connection with making inventory commitments; our ability to remain
competitive in the areas of merchandise quality, price, breadth of
selection and customer service; our ability to keep a strong brand
image; our ability to attract and retain key personnel; our ability
to protect our trademarks in the U.S. and internationally; the
execution and management of our international expansion, including
our ability to promote our brand and merchandise outside the U.S.
and find suitable partners in certain geographies; our current and
future licensing arrangements; the extent of our foreign sourcing;
fluctuations in the price, availability and quality of raw
materials; commodity, raw material and other cost increases; our
reliance on independent manufacturers; seasonal and quarterly
variations in our revenue and income; further impairment of our
goodwill and indefinite-lived intangible assets; competition; other
tax matters; and other factors as set forth from time to time in
our Securities and Exchange Commission filings, including those
described under “Item 1A—Risk Factors” in our Annual Report on Form
10-K and Quarterly Reports on Form 10-Q. We intend these
forward-looking statements to speak only as of the time of this
release and do not undertake to update or revise them as more
information becomes available, except as required by law.
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Investor Relations Contact: ICR, Inc. Jean Fontana,
646-277-1214 Jean.fontana@icrinc.com
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