(Bloomberg) -- Vince Holding Corp., a New York-based fashion brand, is exploring options including a sale, according to people with knowledge of the matter.

The company is working with an adviser on the process, the people said, asking not to be identified discussing private information. No final decision has been made and Vince could opt to remain independent, the people said. Sun Capital Partners Inc., a middle-market private equity firm, is Vince’s largest shareholder with a 69% stake, according to data compiled by Bloomberg. 

A representative for Sun Capital declined to comment. Representatives for Vince didn’t immediately respond to requests for comment. 

Vince rose 4.3% to $7.94 at 9:31 a.m. in New York trading Wednesday, giving the company a market value of about $98 million. It also has about $221 million in debt, Bloomberg data shows. 

Vince runs 51 full-price retail stores and 18 outlet locations, according to its website. The company, focused mostly on women’s clothing, went public in 2013 and also owns the Rebecca Taylor and Parker brands.  

It comes to market amid a slump in the valuations for US apparel makers, with companies including Nike Inc. and VF Corp. falling this year amid recession fears and an uncertain economic outlook. 

(Updates trading in fourth paragraph)

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