Clothing retailer Vineyard Vines is investing in a new headquarters in Stamford that is expected to bring 200 new jobs over the next five years, adding to the 150 people Vineyard Vines currently employs in the city.
The Connecticut Department of Economic and Community Development will support the $15.6 million project with a $6 million, 10-year loan at 1 percent interest. The state funding may be used to purchase machinery and equipment, make leasehold improvements or offset architect and engineering costs.
“Vineyard Vines has been a great neighbor here in Stamford for nearly two decades now, having grown from its humble origins to the major employer and success story that it is today,” said state Sen. Carlo Leone, D-Stamford/Darien. “That this company has grown so exponentially and wishes to remain in Stamford is a testament to what a great place this city is to do business.”
“Vineyard Vines is a great Connecticut story of two brothers who, fed up with corporate life and determined to make it on their own, began selling their own line of ties nearly 20 years ago,” said Gov. Dannell Malloy. “Today, they are one of the leading retailers of clothing and accessories for men, women and children sold throughout the country and competing with the likes of L.L. Bean and J. Crew. The Murray brothers, CEOs and co-founders of Vineyard Vines, are proof positive that if you are an entrepreneur and you have a dream, you can attain it right here in Connecticut.”
Company executives credited the company’s history in the city along with company location and a high-quality workforce as deciding factors in the decision.
“When we started Vineyard Vines in 1998, we never imagined we’d be where we are today,” said Ian Murray, CEO and co-founder. “You could say our business grew up in Connecticut, and because of our extremely successful partnership with the governor’s office and Connecticut DECD, we will continue to grow in Connecticut.”
“Our new office space will put into practice the core values on which we founded vineyard vines, one of which is making vineyard vines a great place to work,” said Shep Murray, CEO and co-founder.
“Vineyard Vines has been a dedicated, longtime member of our corporate community and I am pleased that they will continue to call Stamford home,” said Stamford Mayor David Martin. “Their tremendous growth has been one of Stamford’s great success stories and has contributed in no small way to Stamford’s reputation as a prime destination for business.”
“DECD is proud to support the growth and expansion of Vineyard Vines,” said Catherine Smith, commissioner of the development department. “Our funding assures a company with strong Connecticut roots can remain in Connecticut and continue to put our residents to work in quality, high paying jobs for years to come.”