Vince Holding Corp. announced it has entered into a strategic partnership (“Authentic Transaction”) with Authentic Brands Group. Through the agreement, Authentic will own the majority stake of 75% membership interest in ABG Vince.

In connection with the Authentic Transaction, VNCE will enter into an exclusive, long-term license agreement (the “License Agreement”) with Authentic to use the contributed intellectual property for VNCE's existing business in a manner consistent with the Company's current wholesale, retail and e-commerce operations, and will pay a royalty fee to ABG Vince. VNCE will receive a quarterly distribution equal to 25% of ABG Vince's net cash. The License Agreement contains an initial ten-year term and eight ten-year renewal options allowing VNCE to renew the agreement.