California Apparel News

Sometimes you have to take one step back to move two steps forward.

That’s the philosophy the contemporary label Vince is taking. The now New York–based company has hired the label’s two founders—Rea Laccone and Christopher LaPolice—to help develop the brand’s products, merchandising and creative efforts.

Laccone and LaPolice, who signed a two-year agreement, started Vince in Los Angeles in 2002 and were with the company through January 2013. The label was acquired by the Kellwood Co. in 2006, an apparel venture that later was purchased in 2008 by an affiliate of Sun Capital Partners in a leveraged buyout.

In 2013, Vince went public as a separate entity from Kellwood and now is traded on the New York Stock Exchange.

“Rea and Christopher, who created the original vision for Vince 13 years ago, bring tremendous creative talent to the brand. We look forward to drawing upon their design and merchandising expertise to enhance our product offering,” said Vince Chief Executive Brendan Hoffman, who joined Vince in October after spending more than two years as the chief executive and president of The Bon-Ton Stores. “While product is our first priority, we are also working to develop a strong foundation from which we can drive consistent profitable growth for the long term.”

The brand has been through a tumultuous time lately. Last summer, after leading Vince through an IPO in 2013, Jill Granoff resigned as the chief executive, and Karin Gregersen followed in her footsteps, leaving as president and chief creative officer.

Granoff was a veteran executive in the apparel and cosmetics industry and at one time worked at Liz Claiborne Inc. as an executive vice president in charge of Juicy Couture, Lucky Brand and Kate Spade.

But days after Granoff made public her departure, the company announced that net sales for the second quarter ending Aug. 1 declined 10.4 percent to $80 million from $89.3 million during the same period in 2014. The company experienced a $5 million net loss compared with a $10.5 million profit for the same period in 2014.

The company over the years has expanded from womenswear to menswear, childrenswear, handbags and footwear. It is known for its luxury cashmere sweaters and high-end apparel that is trendy but casually chic.

“Christopher and I are excited to be returning to Vince as this is a brand with tremendous long-term potential,” Laccone said. “We believe that customers have looked to Vince for everyday luxury essentials with modern, effortless style, and we will work with the team to deliver product that reflects this aesthetic.”