Women's contemporary label Vince is celebrating a strong first quarter by bringing on a new women's creative director.
Natalie Ratabesi, whose departure from Milan-based Philosophy (formerly Philosophy di Alberta Ferretti) was announced just two days ago, will relocate to Los Angeles and begin her role overseeing all womenswear design on June 16. She follows up Doo-Ri Chung, who left the brand in October.
Chief Creative Officer Karin Gregersen said in a release that the company chose Ratabesi for her "effortless" design sensibility and "fresh fashion perspective." Her first collection will be for pre-fall 2015.
It's been an exciting past few months for Vince, which set a $200 million IPO in November, and has been experiencing pretty solid growth since. On Thursday morning, it announced its first quarter earnings for 2014. Net sales increased 32.4 percent to $53.5 million, while gross profit increased 50.8 percent to $26.4 million. The company's wholesale business has grown (sales increased nearly 29 percent there), while direct-to-consumer sales increased over 41 percent. The brand has also begun expanding into new product categories including childrenswear and men's shoes.
But as womenswear makes up 85 percent of Vince's business, Ratabesi's role will be pretty key in solidifying the company's future as a lifestyle brand.