Xcel Brands (XELB) – The Transformation Takes Shape


Thursday, June 25, 2026

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Commercialization phase begins. Following several years of portfolio repositioning and infrastructure investment, Xcel has begun commercializing its next generation of creator-led brands, marking a transition from strategy development to revenue execution.

Creator-commerce platform differentiates the investment story. Unlike traditional consumer products companies, Xcel leverages established creators with highly engaged audiences to develop brands across Fashion, Food & Beverage, Pet, and Home, creating an asset-light, royalty-driven business model with meaningful operating leverage.


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Lands’ End (LE) – Multiple Paths to Value Creation


Thursday, June 18, 2026

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Initiating coverage. The transformational WHP Global partnership unlocks hidden brand value by monetizing the Lands’ End intellectual property portfolio, eliminating significant balance-sheet risk, and providing access to WHP’s global licensing platform. In our view, the market is underappreciating the long-term earnings potential from licensing expansion and future profit-sharing opportunities.

A significantly strengthened balance sheet. Lands’ End fully repaid its $234 million term loan, reduced annual interest expense by more than $30 million, and provided substantial financial flexibility. The company now has the capacity to reinvest in growth initiatives while executing its recently authorized $100 million share repurchase program.


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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Vince Holding Corp. (VNCE) – Momentum Accelerates; Guidance Raised


Wednesday, June 17, 2026

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Strong Q1 results and accelerating momentum. First-quarter revenue growth of $64.0 million, exceeding the high end of management’s guidance range, while adjusted EBITDA improved to a loss of $1.1 million from a loss of $3.0 million in the prior-year period. The quarter marked another step forward in the company’s transition from a turnaround story to a growth and earnings expansion story, with strength across both Direct-to-Consumer (DTC) and wholesale channels.

Growth driven by DTC and pricing. DTC sales rose 15.6%, wholesale sales increased 5.9%, and gross margin expanded despite tariff pressures, driven by higher pricing, lower discounting, and strong customer acquisition.


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Release – Xcel Brands Announces Exclusive Partnership and Launch of Limited-Edition Capsule Collection with Baggallini and Coco Rocha

June 10, 2026 at 3:31 PM EDT

Six-Piece Collaboration Debuts September 17, with Early Access Sign-Ups Beginning August 17.

Featuring the debut of the Super Bagg, an oversized statement silhouette inspired by life behind the runway and beyond.

NEW YORK, June 10, 2026 (GLOBE NEWSWIRE) — Xcel Brands, Inc. today announced an exclusive licensing collaboration between handbag specialist Baggallini and internationally renowned model, entrepreneur, and fashion icon Coco Rocha. The partnership will begin with the launch of a limited-edition capsule collection designed by Coco Rocha for the modern woman.

The collaboration combines Baggallini’s signature expertise in organization and functionality with Coco’s sophisticated style and real world understanding of the demands faced by today’s busy women. The collection draws inspiration from Coco’s many years of endless travel as a super model and businesswoman. The star of the collaboration is the Super Bagg seamlessly blending elevated style with practical organization.

Baggallini, the brand known for designing thoughtfully organized bags, announces the launch of the Baggallini x Coco Rocha Capsule Collection, a limited-edition collaboration with internationally renowned supermodel, entrepreneur, mother, and mentor Coco Rocha. The collection combines fashion-forward design with Baggallini’s signature organizational expertise. 

“This partnership continues Xcel Brands’ vision of connecting influential talent with a lifestyle brand such as Baggallini to create meaningful products for today’s consumer,” said Robert W. D’Loren, Chairman and Chief Executive Officer of Xcel Brands. “Coco Rocha’s global influence, entrepreneurial spirit, and authentic understanding of the modern woman’s lifestyle made her an exceptional partner for Baggallini. The Super Bagg and the broader capsule collection deliver the perfect balance of style, versatility, and function that today’s consumer expects.”

At the center of the collection is the debut of the Super Bagg, a bold new oversized silhouette inspired by the multifaceted lives women lead. Drawing from Rocha’s years balancing castings, fittings, photoshoots, airports, meetings, and family life, the Super Bagg was designed to accommodate it all — from platform heels and beauty essentials to laptops, water bottles, and the everyday necessities that rarely make it into the spotlight. Thoughtfully organized throughout, the bag features dedicated shoe compartments, a padded laptop sleeve, water bottle holders, and multiple interior pockets, bringing effortless order to even the busiest days. 

“For most of my career, I’ve been constantly on the move,” said Coco Rocha. “Traveling between photoshoots, airports, and family life. Along the way, I’ve learned that being prepared is one of life’s most underrated luxuries. With this collection, I wanted to create a bag that reflects that reality, something stylish enough for any setting, yet practical and organized enough to keep up with the demands of a busy modern woman. The Super Bagg was designed to carry everything you need while keeping you confident, and ready for wherever life takes you.

In addition to the Super Bagg, the capsule includes three of Baggallini’s most-loved silhouettes: the Lexington BackpackCrescent Convertible Hobo, and Central Park Sling. Each style is reimagined in an exclusive olive green colorway personally selected by Rocha — an elevated neutral chosen for its richness, versatility, and effortless polish. 

“Coco embodies the multifaceted woman we design for — someone who moves through many roles, places, and moments with confidence and individuality,” said Lydia Feniger, VP of Marketing at Baggallini. “Her experience living life on the move — from runways and photoshoots to business ventures and family life — made her an ideal partner. Together, we created a capsule that blends statement-making style with the thoughtful organization our customers rely on every day.” 

Availability

Early access to the Baggallini x Coco Rocha Capsule Collection begins August 17, 2025 for Baggallini subscribers and select customers.

The collection launches publicly on September 17, 2025, at Baggallini.com and through select retail partners while supplies last.

About Baggallini

Baggallini designs organized bags to simplify life, so women can move through the world feeling prepared and confident.
In today’s world organization isn’t a nice-to-have — it’s essential. From carefully placed compartments that keep essentials within reach to lightweight materials, Baggallini products help women move through their day with ease so they can focus on what matters most.

About Coco Rocha

Coco Rocha is an internationally recognized supermodel, entrepreneur, author, mentor, and advocate. Often referred to as the “Queen of Pose,” and widely regarded as one of the most influential figures in modern fashion, Rocha has appeared on hundreds of magazine covers, walked for the world’s leading luxury brands, and starred in major global advertising campaigns throughout her more than two-decade career.

Beyond modeling, Rocha is a successful businesswoman, educator, and mentor who has helped shape the next generation of fashion talent through her academy, Coco Rocha Model Camp, and as a mentor and host on Project Runway Canada. Known for her entrepreneurial spirit and multifaceted approach to life and career, she continues to inspire audiences around the world through her work across fashion, business, education, and family life.

About Xcel Brands

Xcel Brands, Inc. (NASDAQ: XELB) is a media and consumer products company engaged in the design, licensing, marketing, live streaming, and social commerce sales of branded apparel, footwear, accessories, fine jewelry, home goods, pet products and other consumer products, and the acquisition of dynamic consumer lifestyle brands. Xcel was founded in 2011 with a vision to reimagine shopping, entertainment, and social media as social commerce. Xcel is an industry leader in developing influencer led brands and owns the Halston and C. Wonder brands, as well as the co-branded influencer led brands Tower Hill by Christie Brinkley, Trust. Respect. Love by Cesar Millan, GemmaMade by Gemma Stafford and Off/Duty by Coco Rocha brand and holds noncontrolling interests or long-term license agreement in Mesa Mia by Jenny Martinez. Xcel also owns and manages the Longaberger by Shannon Doherty brand through its controlling interest in Longaberger Licensing, LLC. Xcel is pioneering a modern consumer products sales strategy which includes the promotion and sale of products under its brands through interactive television, digital live-stream shopping, social commerce, brick-and-mortar retailers, and e-commerce channels to be everywhere its customers’ shop. The company’s previously owned and current brands have generated more than $5 billion in retail sales via livestreaming in interactive television and digital channels alone and has over 20,000 hours of content production time in live-stream and social commerce. The brand portfolio reaches more than 46 million social media followers with broadcast reaching 200 million households. Headquartered in New York City, Xcel Brands is led by an executive team with significant live streaming, production, merchandising, design, marketing, retailing, and licensing experience, and a proven track record of success in elevating branded consumer products companies. For more information, visit www.xcelbrands.com.

For further information please contact:

Xcel Brands
[email protected]

Xcel Brands (XELB) – Creator Rollout Gains Momentum Into Second Half


Thursday, May 21, 2026

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Favorable color on Q1 results. Q1 2026 results were pressured by temporary HSN supplier disruptions, although management indicated that delayed shipments should benefit Q2 performance. Importantly, the quarter marked the beginning of commercialization for Xcel’s influencer-led portfolio as Jenny Martinez and Gemma Stafford launched on QVC and HSN.

Product Roadmap Expanding Across Multiple Categories. Early launches for Jenny Martinez and Gemma Stafford showed stronger demand for food products versus hard goods, prompting a broader push into consumables, while Cesar Millan’s Amazon storefront and pet product rollout are expected within 6–8 weeks. Notably, the food products are consumable offerings with shorter lead times, domestic production, and recurring-purchase potential. 


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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Xcel Brands (XELB) – Q1 Marks Shift to Growth Phase


Friday, May 15, 2026

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Q1 Results Reflect Commercialization Transition. Figure #1 Q1 Results highlight Xcel Brands’ transition from a portfolio development phase into active commercialization, as the company began rolling out several influencer-led brands across livestream commerce, retail, and digital channels. While near-term financial results remained pressured by launch timing, the quarter marked an important operational inflection point. 

Mesa Mia Launch Served as Key Growth Driver: The debut of Mesa Mia by Jenny Martinez on HSN represented the quarter’s most important strategic development, validating Xcel’s creator-commerce model by leveraging Martinez’s large social following, culturally authentic content, and integrated omnichannel distribution strategy spanning HSN, social commerce, and retail expansion. 


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Xcel Brands (XELB) – Mesa Mia Debut Marks 2026 Growth Pivot


Wednesday, April 29, 2026

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Mesa Mia Launch Validates Creator-Led Model. XCEL’s partner brand, Mesa Mia by Jenny Martinez, debuted on HSN, showcasing the company’s ability to translate authentic cultural authority and a large social following into a fully commercialized kitchenware and food platform anchored in storytelling and engagement. We believe that the debut represents a milestone for the company’s 2026 growth initiative.

HSN Debut Demonstrates Omnichannel Execution. The launch highlights XCEL’s live-commerce engine in action, leveraging HSN’s broadcast reach alongside Martinez’s digital audience to drive immediate consumer awareness and sales, reinforcing the company’s integrated “content + commerce” distribution strategy.


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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Vince Holding Corp. (VNCE) – Operating Execution Driving EBITDA Upside


Thursday, April 16, 2026

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Strong Q4 caps solid year. Vince delivered Q4 revenue growth of 4.7% to $83.7 million, with DTC up over 10%, and profitability exceeding the high end of guidance despite a ~$2M Saks-related headwind. Adj. EBITDA exceeded our expectations at $4.5 million versus our $2.0 million estimate. This performance underscores the company’s ability to execute effectively even amid wholesale channel disruption and macro uncertainty.

DTC strength and pricing power drive results. Growth was fueled by robust full-price demand, improved customer experience, and successful pricing actions that offset tariff and freight pressures while maintaining unit volumes. Importantly, this signals a structurally higher-quality revenue base with less reliance on promotions.


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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Vince Holding Corp. (VNCE) – Margins Trending Towards the High End of Guidance


Friday, April 10, 2026

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Solid holiday performance. For the nine-week period ended January 3, 2026, total company net sales increased 5.3% year over year, supported primarily by steady demand and continued strength in the Direct-to-Consumer segment. Furthermore, management attributed the improvement to ongoing investments in customer experience, digital capabilities, and omnichannel engagement.

DTC leads the way. Notably, Direct-to-Consumer revenue increased 9.7% versus the prior-year holiday period, underscoring strong traffic conversion across e-commerce and retail locations. In contrast, the Wholesale segment declined 2.7% year over year, reflecting disruption in receipt flow related to its partner Saks Global. Despite this pressure, management indicated that strong point-of-sale performance with key partners partially offset the disruption.


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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Xcel Brands (XELB) – A Solid Foundation For Growth


Thursday, April 09, 2026

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Q4 Results. The company reported Q4 revenue of $1.2 million and an adj. EBITDA loss of $0.6 million, both of which were modestly lower than our estimates of $1.7 million and a loss of $0.5 million, respectively, as illustrated in Figure #1 Q4 Results. Notably, we view 2025 as a transformational year for the company, given several key partnerships and a more efficient operating structure that positions the company for growth.

Favorable Release Pipeline. In 2026, the company is expected to enter a more significant phase of its growth strategy, centered on brand launches and portfolio expansion. Cesar Millan, Gemma Stafford, and Jenny Martinez are expected to debut on QVC and HSN in Q2, with distribution expanding to brick-and-mortar retail and Amazon in the back half of the year. Additionally, Coco Rocha is expected to launch later in 2026.


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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Xcel Brands (XELB) – Solid Foundation For Growth In 2026


Wednesday, April 08, 2026

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Q4 Results. The company reported Q4 revenue of $1.2 million and an adj. EBITDA loss of $0.6 million, both of which were modestly lower than our estimates of $1.7 million and a loss of $0.5 million, respectively, as illustrated in Figure #1 Q4 Results. Notably, we view 2025 as a transformational year for the company, driven by several key partnerships that position it on a solid foundation for growth in 2026 and beyond. 

Strategic partnerships. The company’s influencer brands, with Jenny Martinez, Gemma Stafford, Cesar Millan, and Coco Rocha, are expected to launch throughout 2026. Notably, these partnerships have driven the company’s social media following from 5 million at the start of 2025 to approximately 46 million today. In our view, the company is well-positioned to reach its goal of 100 million social media followers in 2026.


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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Perfect (PERF) – Founder-Led Take-Private Proposal


Thursday, March 19, 2026

Patrick McCann, CFA, Research Analyst, Noble Capital Markets, Inc.

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Take Private Proposal. Perfect Corp. received a preliminary, non-binding proposal from a consortium led by CEO Alice H. Chang and CyberLink to take the company private at $1.95 per share. The transaction would be funded through rollover equity, company cash, and potential debt. The board intends to form a special committee to evaluate the proposal, and there is no assurance that a transaction will be completed.

Ownership structure supports a high likelihood of completion. The consortium controls approximately 53.4% of shares and 81.2% of voting power. In our view, this significantly increases the likelihood of a transaction, subject to special committee approval.


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Vince Holding Corp. (VNCE) – Emerging Growth Levers Provide Favorable 2026 View


Monday, January 05, 2026

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Execution inflection driven by digital and DTC momentum. 2025 marked a clear improvement in operating execution, led by stronger e-commerce performance, enhanced digital capabilities, and early traction from the dropship initiative, which collectively supported revenue growth and improved operating leverage.

Pricing power and profitability improved despite cost headwinds. The company demonstrated brand resilience through higher average selling prices, stable unit volumes, improved full-price sell-through, and disciplined cost management, allowing it to offset tariff and freight pressures and deliver meaningful adjusted EBITDA upside.


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