Vince appoints Jack Schwefel as CEO
New York-based fashion company Vince Holding Corp. has appointed Jack Schwefel as its chief executive officer, effective March 29.
Schwefel will be based at the company’s New York headquarters and will replace David Stefko who has served as Interim CEO since August. Stefko will continue to serve as executive vice president, chief financial officer.
Schwefel joins Vince from Cost Plus, Inc., where he served as CEO from 2017 to 2021. At Cost Plus, he is credited with transforming the organization with a focus on omni-channel performance, data-driven merchandising and marketing and partnerships. From 2014 until 2017, Schwefel served as the CEO for Dutch Fashion, LLC, where he initially started out as a member of the Board of Directors in 2012. At Dutch Fashion, Schwefel quickly expanded the retail division across all three brands: Joie, Equipment and Current/Elliott and relaunched Current/Elliott Men.
Previously, he was CEO of Sur La Table, Inc. from 2006 until 2014. Schwefel has equally held various executive and senior management positions both domestically and internationally at multiple brands, including Gap, Esprit, Kohl’s and Toys “R” Us.
“We are delighted to announce the appointment of Jack as the CEO of Vince Holding Corp. His strong track record of driving profitable growth combined with his expertise in developing and implementing omni-channel strategies will be ideal to continue to grow Vince,” said Marc Leder, chairman of the board. “We would also like to thank Dave Stefko for his exceptional leadership as interim CEO and look forward to his continued contributions as chief financial officer.”
Schwefel commented: “I am thrilled to be joining the company at this exciting time as we execute the next phase of growth for the Vince brand and continue to advance the progress made at Rebecca Taylor.”
In December, Vince announced third quarter results where net sales decreased 34 percent to $69 million as compared to $104.5 million in the same period last year. Net income was $5 million or $0.42 per diluted share compared to a net income of $6 million or $0.50 per diluted share in the same period last year.
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