Jan 28 Vince, a contemporary sportswear brand
owned by private equity firm Sun Capital Partners, is exploring
an initial public offering later this year, according to two
sources with knowledge of the matter.
The company is working with banks including Goldman Sachs
Group Inc and UBS AG, the sources said.
Goldman Sachs, UBS and Sun Capital declined to comment.
Vince has not yet determined the precise timing of the IPO
or how much money it is looking to raise, the sources said.
The IPO comes as Vince's parent company, St. Louis-based
Kellwood & Co, is trying to take advantage of strong
performances from recent retail IPOs, including Michael Kors
Holdings Ltd. Shares of Kors have nearly tripled in
price since the company's December 2011 IPO.
In 2006, Kellwood acquired Los Angeles-based Vince and
related assets for $75 million.
Vince sells items such as $300 cashmere sweaters and $1,000
leather jackets at upscale department stores including
Bloomingdale's, Barneys, Neiman Marcus and Saks
Earlier this month, Kellwood CEO Jill Granoff took over as
Vince CEO from Vince co-founders Rea Laccone and Christopher
LaPolice. Granoff is a former CEO of Kenneth Cole and has also
served as an executive at Liz Clairborne.