Vince Shuttering Rebecca Taylor Brand

Vince Holding Corp. (New York) is planning to shutter its Rebecca Taylor brand, according to a company press release announcing its second quarter financial results.

The exit from the Rebecca Taylor business, which includes sister label Parker, means Rebecca Taylor’s 18 physical stores will close.

In the release, Vince cited “increased headwinds from the range of macroeconomic and pandemic-related issues” in its decision to close the brand. The company says it’s now in discussions with lenders and working to finalize a plan to sell off its assets.

Though Vince increased net sales to $89.2 million in the second quarter, sales for Rebecca Taylor and Parker saw a combined decrease of 28 percent. Those two labels also accounted for a $5.5 million operating loss in the quarter, an increase from the $1.6 million loss recorded a year ago.

Rebecca Taylor, the eponymously named brand of the New Zealand-born fashion designer, was founded in 1996. Vince acquired the Rebecca Taylor and Parker labels in 2019 for $19.7 million.