Vince Reopens Manhattan Flagship
The brand continues its retail expansion as it sets Shanghai and Boston openings.
NEW YORK — After being closed for almost two years during the pandemic, Vince on 49th Street by Fifth Avenue reopened Saturday with a "refreshed" look and a more comprehensive collection, with pumped up space for footwear and extended sizes.
Additional renovations as well as store openings are in the works, Jack Schwefel, chief executive officer of Vince Holdings Corp., told WWD in an exclusive interview.
Schwefel said a 1,875-square-foot unit is scheduled to debut in the Boston Seaport in about two months. It will be the brand's third Boston-area store, with the other two located in Chestnut Hill, Mass., and on Newbury Street in the city.
Vince plans to also open its first store in China, in Shanghai, this fall, despite the city being on lockdown due to the COVID19 health crisis there. "It's through a joint venture," Schwefel said. "This will be the beginning of our relationship in China."
"We've opened 20 stores in the past two years," Schwefel added, citing successful openings in secondary markets such as Charlotte and Denver, among others. The openings were a combination of Vince and Rebecca Taylor full-price stores and outlets. Vince, Rebecca Taylor and the Parker brands are part of Vince Holdings.
"Where we open stores, we also see a nice pop on our website. We have been very aggressive opening stores and have found some very creative ways to work with landlords," including getting some rent relief during the pandemic. Brands like Vince have also been able to take advantage of retail's vacancies on streets and in malls caused by the pandemic.
"No one is getting these kind of good deals anymore. We will continue to open stores but not at the pace that we were previously."
Vince generates about two-thirds of its volume through brick-and-mortar; one-third online. The brand has 51 retail stores, 18 outlets, an e-commerce site and a subscription service Vince Unfold, and also sells at upscale department and specialty stores in the U.S. and abroad at Nordstrom, Bloomingdale's, Neiman Marcus, Bergdorf
Goodman, Saks Fifth Avenue, Selfridges, Harrods, Harvey Nichols, Galeries Lafayette, Cortes de Ingles, David Jones and others.
With renovations, a couple of store projects are planned for the Los Angeles market during the back half of this year. In 2023, the Mercer Street store in Manhattan's SoHo neighborhood, and possibly the Madison Avenue store, will undergo renovations. In New York, there are also Vince stores on Prince Street, Washington Street and Columbus Avenue.
“We're excited to offer our complete size range in-store for the first time in our 609 Fifth Avenue location,” Schwefel said. "We're celebrating all sizes. The luxury community has not properly served customers with extended sizes."
Schwefel characterized the 2,800-square-foot flagship as being "refreshed" (rather than completely overhauled) with an expanded shoe salon occupying 800 square feet. Shoes have been a particularly strong category lately.
The space has been updated with custom-designed fixtures, oversize plaster waterfall tables, and travertine and warm wood accents. Additionally, the store will highlight work from Los Angeles-based artist Jessalyn Brooks and ceramicist Morgan Peck, as well as ceramics from
New York-based Simone Bodmer-Turner and an edit from Claude Home, an online gallery of contemporary and vintage decor.
The store will resume its monthly programming of panels, demonstrations and classes, including upcoming classes on crocheting, flower arranging and wellness.
“This store, a block from Rockefeller Center, will serve not only as a hub for our diverse local clientele, but also as a destination for the tristate and global Vince shopper," Schwefel said. It's also across the street from Saks Fifth Avenue.
Vince on 49th Street first opened in September 2019, and closed in June 2020, a few months after the pandemic hit.
"We were really waiting for New York to reopen before we decided to reopen the store," Schwefel said.
"The store still has a very nice open feel. There was plenty of room to layer in more mannequins," drawing attention to the extended range.
Vince is known for its understated, elevated, California-inspired styling.
Asked how traffic is on Fifth Avenue, Schwefel replied, "Last week, I was on Fifth Avenue on Tuesday, Wednesday and Thursday. My office is right on
Fifth Avenue. The street was packed with people."