Tags: Vince | clothing | designer | IPO

Vince Seeks as Much as $190 Million in IPO of Clothing Designer

Tuesday, 12 Nov 2013 10:57 AM

 

Apparel Holding Corp., the clothing designer that’s backed by Sun Capital Partners Inc., is seeking as much as $190 million from an initial public offering of its luxury brand Vince.

The company, which will be renamed Vince Holding Corp., is offering 10 million shares for $17 to $19 apiece, according to a regulatory filing. It plans to list on the New York Stock Exchange under the symbol VNCE.

Sun Capital will keep control of Apparel’s non-Vince businesses, including Rebecca Taylor and My Michelle, the filing showed.

The Bloomberg Americas Apparel Index, with members from Ralph Lauren Corp. to Michael Kors Holdings Ltd., is trading near record highs. Vince would have a market value of $689 million at the high end of the marketed range.

Adjusted for the separation from Apparel Holding, Vince’s sales rose 27 percent to $114.7 million in the six months to Aug. 3, the filing showed.

Goldman Sachs Group Inc and Robert W. Baird & Co. are managing the IPO.

© Copyright 2015 Bloomberg News. All rights reserved.

1Like our page
2Share
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved