On April 24th, Authentic Brands Group (ABG), a US brand management company based in New York, announced a partnership with New York fashion company Vince Holdings Inc. Through the partnership, Vince sold its intellectual property to ABG’s newly formed subsidiary, “ABG Vince,” and signed a long-term licensing agreement with ABG for the use of the sold intellectual property in its wholesale, retail, and e-commerce businesses.
Vince stated that ABG would pay $76.5 million in cash and 25% equity of ABG Vince to acquire the intellectual property, while ABG would hold the …
