Vince Holding Stock Surges On Acquisition, New CEO: Retail's Optimistic

Shares of Vince Holding Corp. ($VNCE) soared nearly 65% on Thursday after the retailer said that P180, a new venture focused on the luxury apparel sector, bought a majority stake in the company and announced a new CEO, sparking retail buzz.

The company named Brendan Hoffman as the CEO of Vince effective on or around February 3. With this transition, David Stefko, interim CEO, will step down and continue to serve on its board. Matthew Garff resigned from the board in connection with the P180 Acquisition, according to the statement.

P180 bought the stake in Vince from affiliates of Sun Capital Partners, according to a company statement. P180 is a new venture co-founded by Christine Hunsicker (founder and CEO of CaaStle Inc.) and Hoffman. Its  mission is to invest in or acquire brands and retailers that stand to benefit from digital expertise and inventory monetization, said the statement.

"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,” Michael Mardy, Vince chairman said. "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."

Sentiment on Stocktwits was 'extremely bullish' compared to a day ago. Message volumes were in the 'extremely high' zone. Message volumes around Vince stock surged nearly 1,241% in a day.

VNCE sentiment meter and message volumes on Jan 23 as of 8:42 pm ET

Vince is a global retail company that operates the Vince brand women's and men's ready to wear business. Founded in 2002, it operates 47 full-price retail stores, 14 outlet stores, and its e-commerce site vince.com.

Vince stock is up 7.1% year-to-date.

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