Home / Knowledge / News / Apparel/Garments / Liz to sell few brands & exploring options for new name
Liz to sell few brands & exploring options for new name
Oct '11
Liz Claiborne, Inc. announced that it has entered into definitive agreements to sell its Liz Claiborne, Monet and Kensie brands, and has completed the sale of its Dana Buchman brand, for total cash proceeds of approximately $328 million, of which $308 million represents sale proceeds.

The Company has also agreed with Donna Karan International to an early termination of its DKNY Jeans and DKNY Active license. Consummation of the Liz Claiborne, Monet and Kensie sale transactions is subject to customary closing conditions, and these transactions are expected to close in the fourth quarter of 2011.

Liz Claiborne and Monet Brands:

• Agrees to sell the domestic and international trademark rights for the Liz Claiborne, Claiborne, Liz, Liz & Co., Concepts by Claiborne, LC, Elisabeth, LizGolf, LizSport, Liz Claiborne New York (LCNY) and Lizwear brands;
• Agrees to sell the trademark rights for the US and Puerto Rico for the Monet brand;
• Liz Claiborne, Inc. retains international rights for Monet;
• LCNY and Lizwear trademarks will be licensed back royalty-free to Liz Claiborne, Inc. until July 2020;
• Liz Claiborne, Inc. will be the exclusive supplier of jewelry to J.C. Penney for the Liz Claiborne and Monet brands; and
• Total cash proceeds of $288 million include an advance of $20 million in exchange for the Company's agreement to develop exclusive brands for J.C. Penney.

Dana Buchman and Kensie Brands:
• Completed the sale of the Dana Buchman brand to Kohl's;
• Agrees to sell the Kensie, Kensiegirl and Mac & Jac brands to affiliates of Bluestar Alliance;
• Aggregate cash proceeds of approximately $40 million for both transactions; and
• Liz Claiborne, Inc. will be the exclusive supplier of jewelry to Kohl's for the Dana Buchman brand for two years.

DKNY Jeans and DKNY ActiveLicense:
• Agrees to early termination of the DKNY Jeans and DKNY Active license with Donna Karan International; and
• License will terminate at year end 2011, one year ahead of the scheduled license maturity.

William L. McComb, Chief Executive Officer of Liz Claiborne, Inc., said: "Since our Investor Day presentation back in April, we have discussed sale opportunities in our Partnered Brands segment, focusing on the value inherent in both existing Partnered Brands licensing agreements and standalone wholesale brands. Announcement brings those value creation opportunities to reality, resulting in $328 million in total cash proceeds, inclusive of sale proceeds of $308 million.

These sale proceeds represent an implied multiple of nearly 8 times associated 2011 forecasted adjusted EBITDA. Consistent with our stated goal to de-lever the Company, these proceeds will be used to further reduce debt. These transactions, coupled with the previously announced Elizabeth Arden transaction and Mexx joint venture agreement with The Gores Group, underscore our focus on unlocking value for our stakeholders. After the closing of these transactions, we expect year end 2011 net debt to be in the range of $270 to $290 million."

Must ReadView All

Apparel/Garments | On 21st Oct 2016

China’s garment retail sales grow 7.2% in Jan-Sept ’16

Retail sales of garments, footwear, hats and knitwear of Chinese...

Mike Preston, executive director of the Arkansas Economic Development Commission (AEDC), signing MoU with Tang from Suzhou Tianyuan Garments company. Courtesy: Government of Arkansas

Apparel/Garments | On 21st Oct 2016

Suzhou Tianyuan to open $20 mn garment factory in US

Suzhou Tianyuan Garments company, a Chinese manufacturer of casual...

Textiles | On 21st Oct 2016

Pakistan’s textile exports fall 5.96% y-o-y in Q1 FY17

The value of textile and garment exports made by Pakistan decreased...

Interviews View All

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Abhimanyu Singh Rathore & Barbara Anna Kosiorek

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Kevin Nelson

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Eric Scholler

The Indian market has huge potential in technical textiles, and by far,...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Advanced Search