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Goodwill and Intangible Assets (Tables)
 9 Months Ended
Oct. 29, 2022
Goodwill And Intangible Assets Disclosure [Abstract]  
Summary of Net Goodwill Balances

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 29, 2022

 

$

31,973

 

 

$

—

 

 

$

—

 

 

$

31,973

 

Balance as of October 29, 2022

 

$

31,973

 

 

$

—

 

 

$

—

 

 

$

31,973

 
Summary of Identifiable Intangible Assets

The following tables present a summary of identifiable intangible assets:

 

(in thousands)

 

Gross Amount

 

 

Accumulated Amortization

 

 

Accumulated Impairments

 

 

Reclassification to Assets Held for Sale

 

 

Net Book Value

 

Balance as of October 29, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortizable intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer relationships

 

$

31,355

 

 

$

(22,084

)

 

$

(6,115

)

 

$

—

 

 

$

3,156

 

Tradenames (1)

 

 

22,236

 

 

 

(683

)

 

 

(18,663

)

 

 

(2,890

)

 

 

—

 

Indefinite-lived intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tradenames

 

 

101,850

 

 

 

—

 

 

 

(34,750

)

 

 

—

 

 

 

67,100

 

Total intangible assets

 

$

155,441

 

 

$

(22,767

)

 

$

(59,528

)

 

$

(2,890

)

 

$

70,256

 

(1) On September 12, 2022, the Company announced its decision to wind down the Rebecca Taylor business. Therefore, the Company determined that the indefinite life classification was no longer appropriate for the Rebecca Taylor tradename and began amortizing the Rebecca Taylor tradename in the third quarter of fiscal 2022. Amortization of the Rebecca Taylor tradename ceased upon classification as held for sale in the third quarter of fiscal 2022. Additionally, during the third quarter of fiscal 2022, the Parker tradename was classified as held for sale and amortization ceased. See Note 2 "Wind Down of Rebecca Taylor Business" for further information.

 

(in thousands)

 

Gross Amount

 

 

Accumulated Amortization

 

 

Accumulated Impairments

 

 

Net Book Value

 

Balance as of January 29, 2022

 

 

 

 

 

 

 

 

 

 

 

 

Amortizable intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

Customer relationships

 

$

31,355

 

 

$

(21,635

)

 

$

(6,115

)

 

$

3,605

 

Tradenames

 

 

13,100

 

 

 

(143

)

 

 

(12,527

)

 

 

430

 

Indefinite-lived intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

Tradenames

 

 

110,986

 

 

 

—

 

 

 

(39,186

)

 

 

71,800

 

Total intangible assets

 

$

155,441

 

 

$

(21,778

)

 

$

(57,828

)

 

$

75,835

 
Schedule of Expected Amortization Expense for Identifiable Intangible Assets The estimated amortization expense for identifiable intangible assets for the remainder of fiscal 2022 and the next five fiscal years is expected to be as follows:

 

 

 

Future

 

(in thousands)

 

Amortization

 

2022

 

$

150

 

2023

 

 

598

 

2024

 

 

598

 

2025

 

 

598

 

2026

 

 

598

 

2027

 

 

598

 

 

 

$

3,140