Authentic Brands Group

Vince Holding Corp. Reports Second Quarter 2023 Results

Retrieved on:

Mardi, septembre 12, 2023

Retail, Luxury, Fashion, GAAP, Ratio, Sale, Wind, NYSE, Authentic Brands Group, Rebecca Taylor, End-user license agreement, Music, Reinsurance, Video game

Vince Holding Corp. (NYSE: VNCE) ("VNCE" or the "Company"), a global contemporary retailer, today reported its financial results for the second quarter 2023 ended July 29, 2023.

Key Points:

Vince Holding Corp. (NYSE: VNCE) ("VNCE" or the "Company"), a global contemporary retailer, today reported its financial results for the second quarter 2023 ended July 29, 2023.
Excluding the Vince IP Sale Gain and the Transaction Expenses, adjusted net loss* for the second quarter of fiscal 2023 was $0.5 million or $(0.04) per share.
For the second quarter ended July 29, 2023:
Total Company net sales decreased 22.1% to $69.4 million compared to $89.2 million in the second quarter of fiscal 2022.
The Company ended the quarter with 66 company-operated Vince stores, a net decrease of 1 store since the second quarter of fiscal 2022.

Baozun Announces Second Quarter 2023 Unaudited Financial Results

Retrieved on:

Lundi, août 28, 2023

SHANGHAI, Aug. 28, 2023 /PRNewswire/ -- Baozun Inc. (Nasdaq: BZUN and HKEX: 9991) ("Baozun", the "Company" or the "Group"), a leading brand e-commerce solution provider and digital commerce enabler in China, today announced its unaudited financial results for the second quarter ended June 30, 2023.

Key Points:

SHANGHAI, Aug. 28, 2023 /PRNewswire/ -- Baozun Inc. (Nasdaq: BZUN and HKEX: 9991) ("Baozun", the "Company" or the "Group"), a leading brand e-commerce solution provider and digital commerce enabler in China, today announced its unaudited financial results for the second quarter ended June 30, 2023.
Mr. Arthur Yu, Chief Financial Officer of Baozun and President of BEC, commented, "In the second quarter of 2023, BEC once again achieved better year-over-year profits and cash flows, benefiting from our consistent efforts in enhancing value and reducing costs.
Currently, BBM mainly comprises product sales revenue of Gap Shanghai, and product sales for BBM in the second quarter of 2023 totaled RMB324.2 million.
Gross profit margin of product sales for BBM in the second quarter of 2023 was 51.9%.

SHEIN and SPARC Group Join in a Strategic Partnership

Retrieved on:

Jeudi, août 24, 2023

Authentic Brands Group, Growth, Simon Property Group, Partnership, Beauty, Authenticity, SPARC, SHEIN, Retail, Management

NEW YORK, Aug. 24, 2023 /PRNewswire/ -- SPARC Group Holdings II LLC ("SPARC Group") today announced a strategic partnership with SHEIN, the global integrated online marketplace for fashion, beauty and lifestyle products. The partnership will focus on meeting the needs of customers in the U.S. and around the world who enjoy affordable, high-quality fashion.

Key Points:

Partnership to use SHEIN's e-commerce platform to give customers greater access to high-quality, affordable fashion
NEW YORK, Aug. 24, 2023 /PRNewswire/ -- SPARC Group Holdings II LLC ("SPARC Group") today announced a strategic partnership with SHEIN, the global integrated online marketplace for fashion, beauty and lifestyle products.
Under the agreement, SHEIN acquires an approximately one-third interest in SPARC Group, a joint venture that includes Authentic Brands Group and Simon Property Group, and SPARC Group becomes a minority shareholder in SHEIN.
SHEIN brings its unparalleled e-commerce expertise and global reach to provide SPARC Group a platform to further grow its brands.
"We are very pleased to welcome SHEIN as a strategic partner and shareholder in SPARC Group.

Nautica Kicks Off 40th Anniversary Celebrations with a Limited-Edition Capsule Collection

Retrieved on:

Jeudi, août 3, 2023

Social responsibility, Eye, Capsule, History, Creativity, Macy's, Collection, Walking, Water, Authentic Brands Group, Fashion design, Nautica, Belk

"As we celebrate our 40th anniversary, we take immense pride in the enduring legacy of Nautica.

Key Points:

"As we celebrate our 40th anniversary, we take immense pride in the enduring legacy of Nautica.
The 1983 Capsule is a tribute to our brand's Nautical-inspired heritage and leans into archival designs," said Naushaba Moeen, Executive Vice President – Lifestyle at Authentic Brands Group, owner of Nautica.
In addition to the anniversary capsule, Nautica's design team partnered with Youtube creator Eddie Win to create a reissue collection that includes tracksuits, tees, sweaters, and accessories.
The 1983 Capsule is available on Nautica.com , Macys.com, Belk.com and in select Macy's and Belk doors later in the month.

CO-FOUNDERS OF FUTUREVERSE LAUNCH $50 MILLION FUND AND VENTURE STUDIO "BORN READY"

Retrieved on:

Jeudi, août 3, 2023

LOS ANGELES, Aug. 3, 2023 /PRNewswire/ -- Futureverse Co-Founders, Shara Senderoff and Aaron McDonald, announce today the launch of Born Ready, a new $50 million venture fund and studio. The fund's primary focus is to accelerate the development and adoption of emerging technology ventures that hold strategic collaboration potential with Futureverse or The Root Network, a public decentralized blockchain network optimized for metaverse apps and experiences.

Key Points:

LOS ANGELES, Aug. 3, 2023 /PRNewswire/ -- Futureverse Co-Founders, Shara Senderoff and Aaron McDonald, announce today the launch of Born Ready , a new $50 million venture fund and studio.
Experienced and respected multi-hyphen venture capitalist-operator-entrepreneurs Senderoff and McDonald co-founded Futureverse together, along with Daniel Gillespie and Marco Brondani who also join Born Ready as partners.
Futureverse is a leading AI and metaverse technology and content company that recently announced a $54 million Series A funding round led by 10T Holdings, including contribution from Ripple Labs.
Shara previously co-founded Raised in Space, a blockchain focused investment fund, in partnership with music-mogul Scooter Braun and blockchain leader Ripple.

FUTUREVERSE RAISES $54 MILLION SERIES A TO SCALE METAVERSE INFRASTRUCTURE AND INTRODUCE AI TO THE METAVERSE

Retrieved on:

Mardi, juillet 18, 2023

LOS ANGELES, July 18, 2023 /PRNewswire/ -- Futureverse, a leading AI and metaverse technology and content company, today announced the close of its $54 million Series A funding round. The round was led by 10T Holdings, LLC ("10T") and included participation from Ripple.

Key Points:

Futureverse was founded to empower developers and users to create and engage with interoperable content and applications previously unavailable within the metaverse.
By rolling up 11 metaverse infrastructure and content companies into one collaborative ecosystem, Futureverse delivers the essential components for constructing any metaverse application, while forming one of the world's largest metaverse communities powered by digital collectibles.
In order to reach this potential, the metaverse requires open, scalable, and interoperable infrastructure," said Aaron McDonald and Shara Senderoff, Co-Founders of Futureverse.
"We are excited to continue to support the Futureverse vision and celebrate the Root Network's integration with the XRP Ledger.

Authentic Brands Group Announces $500M Primary Follow-on Investment From General Atlantic

Retrieved on:

Jeudi, juin 29, 2023

Authentic Brands Group (Authentic), a global brand owner, marketing and entertainment platform, today announced a $500M primary follow-on investment from its current investor General Atlantic, a leading global growth equity firm.

Key Points:

Authentic Brands Group (Authentic), a global brand owner, marketing and entertainment platform, today announced a $500M primary follow-on investment from its current investor General Atlantic, a leading global growth equity firm.
“General Atlantic’s increased investment in Authentic is a testament to the strength of our proprietary brand platform, business model and team,” said Jamie Salter, Founder, Chairman and CEO of Authentic.
“General Atlantic takes an innovative investment approach and shares our vision for building brand value for the long term.
Andrew Crawford, Managing Director and Global Head of Consumer at General Atlantic, said, “General Atlantic is proud to be a long-term partner to Jamie and the Authentic Brands Group team.

Vince Holding Corp. Successfully Completes Refinancing of ABL Credit Facility

Retrieved on:

Lundi, juin 26, 2023

Retail, Luxury, Fashion, Authentic Brands Group, Bank, Bank of America, Credit, NYSE

Vince Holding Corp. (NYSE: VNCE) (“VNCE” or the “Company”), a global contemporary retailer, today announced that it has entered into a new five-year credit agreement for an $85 million senior secured asset-based revolving credit facility (“ABL Credit Facility”) expected to mature in June 2028.

Key Points:

Vince Holding Corp. (NYSE: VNCE) (“VNCE” or the “Company”), a global contemporary retailer, today announced that it has entered into a new five-year credit agreement for an $85 million senior secured asset-based revolving credit facility (“ABL Credit Facility”) expected to mature in June 2028.
The new ABL Credit Facility was entered into with Bank of America, N.A acting as administrative agent and replaces the Company's previous $70 million senior secured asset-based revolving credit facility set to mature in June 2024, which was repaid in full and terminated.
Jack Schwefel, Chief Executive Officer of VNCE said, “Following the close of our transaction with Authentic Brands Group, we have taken swift and significant actions to strengthen our balance sheet and increase our overall liquidity position.
With this most recent refinancing of our ABL Credit Facility we have meaningfully increased our financial flexibility to execute on our objectives which we believe will enhance shareholder returns and position the Company for long-term success.”

Innovative Eyewear, Inc. Announces Multi-Year, Global Licensing Agreement With Authentic Brands Group for Reebok® Smart Eyewear

Retrieved on:

Mardi, juin 20, 2023

Partnership, Freedom, Authenticity, LUCY, Marketing, Culture, EVP, Woman, Athlete, Name, Collection, Motivation, Authentic Brands Group, Fashion design, Reebok

MIAMI, June 20, 2023 /PRNewswire/ -- Innovative Eyewear, Inc. ("Innovative Eyewear" or the "Company") (NASDAQ: LUCY; LUCYW), the developer and retailer of smart eyewear under the Lucyd®, Nautica® and Eddie Bauer® brands, is pleased to announce that through an agreement with Authentic Brands Group (Authentic), a global brand development, marketing and entertainment platform, it has licensed the irreverent sports culture brand, Reebok® for smart eyewear.

Key Points:

MIAMI, June 20, 2023 /PRNewswire/ -- Innovative Eyewear, Inc. ("Innovative Eyewear" or the "Company") (NASDAQ: LUCY; LUCYW), the developer and retailer of smart eyewear under the Lucyd®, Nautica® and Eddie Bauer® brands, is pleased to announce that through an agreement with Authentic Brands Group (Authentic), a global brand development, marketing and entertainment platform, it has licensed the irreverent sports culture brand, Reebok® for smart eyewear.
Reebok® has inspired, connected and created great products for athletes and consumers across the world for generations.
"We are pleased to partner with Lucyd to pioneer Reebok's smart eyewear offering," said Steve Robaire, EVP – Reebok International at Authentic.
The initial Reebok smart eyewear collection is expected to launch early in 2024 with styles for men and women.

Vince Holding Corp. Reports First Quarter 2023 Results

Retrieved on:

Jeudi, juin 8, 2023

Vince Holding Corp. (NYSE: VNCE) (“VNCE” or the “Company”), a global contemporary retailer, today reported its financial results for the first quarter 2023 ended April 29, 2023.

Key Points:

Vince Holding Corp. (NYSE: VNCE) (“VNCE” or the “Company”), a global contemporary retailer, today reported its financial results for the first quarter 2023 ended April 29, 2023.
In this press release, the Company is presenting its financial results for the first quarter ended April 29, 2023 in conformity with U.S. generally accepted accounting principles ("GAAP") as well as on an "adjusted" basis.
Adjusted loss from operations* in the first quarter of fiscal 2023, which excludes the Transaction Expenses and the Parker IP Sale Gain (each as defined below), was $0.3 million.
The Company ended the quarter with 67 company-operated Vince stores, a net decrease of 1 store since the first quarter of fiscal 2022.