Vince Holding closed five stores in the 12 months through its fiscal second quarter, leaving 53 company-operated locations. Sales rose 11.7% to $81.8 million, and the company completed its acquisition of OVO, the streetwear brand co-founded by Drake.
Vince completed the acquisition of OVO’s operating business in late August, in partnership with Authentic Brands Group. It plans about three U.S. OVO stores in fiscal 2027 and a department-store wholesale launch in the second half of that year. Management expects OVO to be earnings-neutral in fiscal 2026 and accretive in fiscal 2027.
Direct-to-consumer sales rose 13.7% and wholesale sales 10.4%. Adjusted EBITDA was $18.0 million, up from $6.7 million a year earlier, including tariff-refund benefits. A one-time $10.4 million tariff refund drove most of the profit increase, while the year-earlier quarter included a $5.6 million tax credit; removing both one-offs, underlying profit grew only slightly.
