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Goodwill and Intangible Assets | 6 Months Ended
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Jul. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Note 2. Goodwill and Intangible Assets Net goodwill balances and changes therein by segment were as follows:
(in thousands) |  | Vince Wholesale |  |  | Vince Direct-to-consumer |  |  | Rebecca Taylor and Parker |  |  | Total Net Goodwill |
Balance as of January 30, 2021 |  | $ | 31,973 |  |  | $ | — |  |  | $ | — |  |  | $ | 31,973 |
Balance as of July 31, 2021 |  | $ | 31,973 |  |  | $ | — |  |  | $ | — |  |  | $ | 31,973 |
The total carrying amount of goodwill is net of accumulated impairments of $101,845. During the first quarter of fiscal 2020, the Company determined that a triggering event had occurred as a result of changes to the Company’s long-term projections driven by the impacts of COVID-19. The Company performed an interim quantitative impairment assessment of goodwill and intangible assets. The Company determined the fair value of the Vince wholesale reportable segment using a combination of discounted cash flows and market comparisons. “Step one” of the assessment determined that the fair value was below the carrying amount by $9,462, and as a result the Company recorded a goodwill impairment charge of $9,462 within Impairment of goodwill and intangible assets on the condensed consolidated statements of operations and comprehensive income (loss) for the six months ended August 1, 2020. There were no impairment charges for the three and six months ended July 31, 2021. The following tables present a summary of identifiable intangible assets:
(in thousands) |  | Gross Amount |  |  | Accumulated Amortization |  |  | Accumulated Impairments |  |  | Net Book Value |
Balance as of July 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amortizable intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships |  | $ | 31,355 |  |  | $ | (21,336 | ) |  | $ | (6,115 | ) |  | $ | 3,904 |
Tradenames |  |  | 13,100 |  |  |  | (114 | ) |  |  | (12,527 | ) |  |  | 459 |
Indefinite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Tradenames |  |  | 110,986 |  |  |  | — |  |  |  | (39,186 | ) |  |  | 71,800 |
Total intangible assets |  | $ | 155,441 |  |  | $ | (21,450 | ) |  | $ | (57,828 | ) |  | $ | 76,163 |
(in thousands) |  | Gross Amount |  |  | Accumulated Amortization |  |  | Accumulated Impairments |  |  | Net Book Value |
Balance as of January 30, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amortizable intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships |  | $ | 31,355 |  |  | $ | (21,036 | ) |  | $ | (6,115 | ) |  | $ | 4,204 |
Tradenames |  |  | 13,100 |  |  |  | (86 | ) |  |  | (12,527 | ) |  |  | 487 |
Indefinite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Tradenames |  |  | 110,986 |  |  |  | — |  |  |  | (39,186 | ) |  |  | 71,800 |
Total intangible assets |  | $ | 155,441 |  |  | $ | (21,122 | ) |  | $ | (57,828 | ) |  | $ | 76,491 |
During the first quarter of fiscal 2020, the Company estimated the fair value of the Vince and Rebecca Taylor tradename indefinite-lived intangible assets using a discounted cash flow valuation analysis, which is based on the relief from royalty method and determined that the fair value of the Vince and Rebecca Taylor tradenames were below their carrying amounts. Accordingly, the Company recorded an impairment charge for the Vince and Rebecca Taylor tradename indefinite-lived intangible assets of $4,386, which was recorded within Impairment of goodwill and intangible assets on the condensed consolidated statements of operations and comprehensive income (loss) for the six months ended August 1, 2020. There were no such impairment charges for the three and six months ended July 31, 2021. Amortization of identifiable intangible assets was $164 and $328 for the three and six months ended July 31, 2021, respectively, and $163 and $328 for the three and six months ended August 1, 2020, respectively. The estimated amortization expense for identifiable intangible assets is $655 for each fiscal year for the next five fiscal years.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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