Fashion retailer Vince hires its third CEO since July
October 23, 2015 02:18 PM
Another month brings more changes at the top for fashion brand and retailer Vince LLC.
Vince, No. 619 in the Internet Retailer 2015 Second 500 Guide, hired retail industry veteran Brendan Hoffman as its permanent CEO. Hoffman takes over from interim CEO Mark Brody, who was promoted from interim chief financial officer in September. In a statement announcing the move, Vince said Brody will continue to serve on the retailer’s board of directors.
Hoffman becomes the third person to hold the CEO title at Vince in the past four months. Jill Granoff stepped down from the position in July after serving as CEO since May 2012.
Hoffman had most recently served as CEO of department store chain The Bon-Ton Stores Inc. (No. 181), joining the company in February 2012 before stepping down late last year. During his time with Bon-Ton, the retailer grew its online sales by 91.3% to $167.5 million in 2014 from $87.6 million in 2012. Hoffman also was CEO of Hudson Bay Co.-owned Lord & Taylor and president of Neiman Marcus’s Neiman Marcus Direct. Hudson’s Bay is No. 96 in the 2015 Top 500 while Neiman Marcus is No. 43.
Vince chairman of the board Marc Leder cited Hoffman’s e-commerce expertise as a key reason for his hiring.
“We believe that his strong merchandising skills, in-depth knowledge of the department store channel and e-commerce experience make him an excellent choice for chief executive officer,” Leder said. “As a strategic thinker who possesses great customer insight, we are confident that Brendan has the right background and skill set to drive healthy and profitable long-term growth for Vince."
Vince manufacturers and markets apparel under such brand names as Vince, Rebecca Taylor, Sag Harbor and XOXO. It sells wholesale to other retailers, and operates its own bricks-and-mortar stores as well as the Vince.com e-commerce site.