Vince Holding sells intellectual property of Rebecca Taylor

Vince Holding is making progress with its plans announced earlier this year to unwind its Rebecca Taylor brand.

In a short statement, the US company said it has sold the intellectual property and certain related ancillary assets of Rebecca Taylor to Ramani Group.

Vince Holding announced in September it would be exiting its Rebecca Taylor business “to focus its resources on the Vince brand” after being hit by the pandemic. It bought the business back in 2019, along with the Parker label.

Earlier this month, Vince Holding revealed that its decision to unwind the business had a negative impact on third-quarter earnings, with the group swinging to a net loss of 5.2 million dollars from a profit of 2.2 million dollars a year earlier.

That came as net sales in the quarter increased 12.7 percent to 98.6 million dollars.