What: Vince CEO mentions during an interview that department stores remain crucial in the development of a fashion brand.

Why it is important: Not all brands are part of giant luxury groups and nurturing relationships with such brands could be the future of department stores.

Vince, a brand known for its discreet, timeless luxury inspired by California, is expanding in France, aiming to increase its presence from 15 to 25 points of sale by 2024. CEO Jack Schwefel, with over 30 years in the fashion industry, including a significant tenure at Gap, is leading this expansion. Vince has established a presence at major Parisian department stores like Galeries Lafayette and Printemps, strategically located on Boulevard Haussmann to maximize customer reach. The brand also maintains its only showroom outside the US in Paris, reflecting the city's status as a fashion capital.

Vince's growth strategy includes enhancing its e-commerce platform, with plans to make it available in French, German, and Spanish by 2024. Schwefel notes that French consumers value quality highly, a trait that aligns well with Vince's offerings. Identifying as a 'Quiet Luxury' brand, Vince has seen significant sales impact from this trend, particularly beneficial for their business.

Internationally, the UK, Asia (especially Korea and Japan), Hong Kong, and China are key markets for Vince. The French market is particularly important, with plans for major projects in the country. Vince is known primarily as a women's fashion brand, but its men's sector is growing, aiming to reach 30% of total business in three years. The brand plans to invest in digital marketing and communication to enhance brand awareness, moving away from traditional advertising methods towards digital platforms for more effective audience engagement and analysis.

Department stores are still important for brands: the Vince example