Publication: The New York Times
Title: Liz Claiborne Sells Portfolio of Brands
Article by: Evelyn M. Rusli
In an effort to cut its debt load, Liz Claiborne announced that it is selling several of its brands.
Among the brands that have been sold are its namesake brand and Monet to J.C. Penney, and Kensie moving to Bluestar Alliance. In addition, the Dana Buchman brand was recently sold to Kohl’s. These sales will generate $328 million in cash proceeds, the company said.
In August Liz Claiborne sold a group of fragrance licenses to Elizabeth Arden, and in September they sold Mexx brand to a joint venture let by Gores Group.
With all of the changes, including the loss of the Liz Claiborne brand, the group will rebrand itself and look to capture their remaining brands within the new corporate name. The remaining brands are Juicy Couture, Lucky Brand, and kate spade- all of which have remained strong brands for the Liz Claiborne portfolio.