Equity Research Focusing on the Consumer Sector, Small Cap Consumer Research

Small Cap Consumer Research

Equity research on small cap consumer names.

Equity Research Focusing on the Consumer Sector

Small Cap Consumer Research, LLC is a leading company-sponsored equity research provider focusing on the consumer sector (apparel, brand licensing and specialty retailing segments).

Equity Bottom-Up

<ul><li>We are reiterating our Buy rating and $6 price target and slightly raising our projections after P180, a venture spearheaded by former Vince CEO Brendan Hoffman and Christine Hunsicker (founder of CaaStle, a "Clothing as a Service" provider), acquired Sun Capital's 65% equity stake in VNCE and restructured and reduced Vince's Third Lien Facility with an affiliate of Sun Capital.</li><li>As such, Sun Capital has materially reduced their affiliation with the company.</li><li>Further, Mr. Hoffman, who was previously Chief Executive Officer of Vince from 2015 to 2020 is expected to return as Vince CEO in February.</li></ul>

We are reiterating our Buy rating and $6 price target and slightly raising our projections after P180, a venture spearheaded by former Vince CEO Brendan Hoffman and Christine Hunsicker (founder of CaaStle, a "Clothing as a Service" provider), acquired Sun Capital's 65% equity stake in VNCE and restructured and reduced Vince's Third Lien Facility with an affiliate of Sun Capital.As such, Sun Capital has materially reduced their affiliation with the company.Further, Mr. Hoffman, who was previously Chief Executive Officer of Vince from 2015 to 2020 is expected to return as Vince CEO in February.

Pvh Corp - VNCE: P180 Acquires Sun Capital Majority Stake in VNCE; Reiterate Buy, $6 PT