Vince appoints Jack Schwefel as CEO | Garment Trade Information
Vince Holding Corp has appointed Jack Schwefel as its new CEO, changing David Stefko who has held the place on an interim foundation since August final yr.
Schwefel can be primarily based on the firm’s New York headquarters and can be a part of the corporate on March 29.
He most lately served as CEO of Value Plus, Inc from 2017-2021, the place he reworked the group with a give attention to omnichannel efficiency, data-driven merchandising, advertising and marketing and partnerships. Previous to Value Plus, from 2014 to 2017, Schwefel was CEO of Dutch Style, LLC.
He has additionally held numerous management and management roles nationally and internationally in a number of manufacturers together with Hole, Esprit, Kohl’s and Toys “R” Us.
Marc Leder, Chairman of the Board, mentioned Schwefel’s robust observe report of worthwhile progress, mixed along with his experience in growing and implementing omnichannel methods, could be excellent for persevering with to develop Vince.
Schwefel added, “I’m delighted to affix the corporate right now as we execute the subsequent part of progress for the Vince model and proceed to advance the progress made at Rebecca Taylor. These are two unbelievable manufacturers with monumental potential. , who’re supported by extraordinary artistic management. I stay up for working with the groups to additional strengthen the foundations and drive the methods to ship long-term worthwhile progress to our shareholders. “
Vince acquired up to date girls’s label Rebecca Taylor alongside Parker in 2019 for US $ 19.7 million.
In his newest quarterly replace, Vince reported a 34% drop in internet gross sales for the third quarter ended Oct. 31 to US $ 69 million, from $ 104.5 million in the identical interval. final yr. By model, Vince’s internet gross sales fell 28.7% to $ 61.6 million, whereas these of Rebecca Taylor and Parker fell 58.9% to $ 7.5 million. Web revenue fell to $ 5 million from $ 6 million, whereas the gross margin price was 45.9% from 48.8%.