P180 acquires majority stake in Vince, Hoffman to return as CEO

P180, a venture focused on accelerating growth and profitability in the luxury apparel sector, has acquired a majority stake in Vince Holding from Sun Capital.

In conjunction with acquisition, Vince said in a release, P180 co-founder Brendan Hoffman is expected to assume the role of chief executive officer of VNCE around February 3, 2025. With this transition, David Stefko will step down as interim CEO of VNCE and continue to serve on the company’s board of directors.

In addition, Matthew Garff has resigned from the VNCE board of directors in connection with the P180 acquisition.

“As VNCE has evolved its operating model, we believe having access to the technology and team of CaaStle, founded by Christine Hunsicker, my co-founder at P180, will further advance the company’s momentum in driving improved profitability while enhancing its omni-channel experience," said Hoffman.

"Personally, I have a strong connection to the Vince brand, having served as VNCE CEO for five years. I am excited to lead the team again as we continue to unlock new growth opportunities, drive innovation, enhance the brand's market position, and focus on monetizing the company’s inventory to ensure continued long-term success," he added.

This acquisition marks the third strategic deal for P180 since its inception in 2024 and follows its recent investment with the fashion label Altuzarra and digital partnership with the multi-brand retailer Elysewalker.