Vince Taps Ralph Lauren Executive John Szczepanski to Serve as CFO

Vince Holding Corp. announced on Wednesday that John Szczepanski, a seasoned professional with a background at Ralph Lauren spanning 20 years in various finance leadership roles, will assume the position of Chief Financial Officer starting January 2.

Szczepanski steps into the CFO role, taking over from interim CFO Michael Hand, who assumed the position earlier this year following the departure of CFO Amy Levy. Levy, who took on the role at the beginning of the year, succeeded David Stefko, the retired CFO. However, after five months, Levy left to pursue a position at Centric Brands.

Vince CEO Jack Schwefel expressed confidence in Szczepanski’s experience, stating it will greatly benefit the leadership team and the company’s transformation initiatives. Szczepanski himself acknowledged the crucial juncture Vince finds itself in, expressing admiration for the brand and readiness to contribute during this pivotal period.

Vince, operating in retail, e-commerce, outlet businesses, and wholesale, faced challenges in recent years. This year, it was acquired by brand management firm Authentic Brands Group, joining the company’s portfolio of struggling businesses.

The company recently revealed plans for a transformation strategy aimed at reducing costs by $30 million over the next three years. Vince also projected Q3 net sales to range between $81 million and $83 million, indicating an improvement compared to the previous quarter. In Q2, net sales saw a 22% year-over-year decline to $69.4 million.

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