Home / Knowledge / News / Apparel/Garments / Sale of Liz Claiborne & Monet completed
Sale of Liz Claiborne & Monet completed
03
Nov '11
Liz Claiborne Inc announced that it has completed the transaction to sell domestic and international trademark rights of its Liz Claiborne family of brands and domestic trademark rights of its Monet brand to J. C. Penney Company, Inc. 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.

Mr. William McComb, Chief Executive Officer of Liz Claiborne, Inc., said: "We are very proud of the value we have unlocked from our Partnered Brands group. What remains of that segment is a private brand jewelry design and development group that will continue to serve J. C. Penney, via our exclusive license for the Liz Claiborne and Monet brand jewelry lines.

It will also continue to market Trifari and Marvella, as well as serve Kohl's with a license for Dana Buchman jewelry. Our jewelry capability is a profitable niche that was worth retaining, and will add to our earnings profile."

Mr. McComb continued: "With this announcement, the company has completed the last in a series of five transactions that in total have raised $471 million, allowing the company to meaningfully de-leverage and transform its balance sheet--while creating a portfolio focused on growth."

Mr. McComb concluded: "We have eliminated significant operating and financial risk and complexity. As we generate our strongest cash flow in the November/December time period, we are reaffirming our expected year-end 2011 net debt to be between $270 and $290 million.

We are now focused on our three global lifestyle brands -- Juicy Couture, kate spade and Lucky Brand--and seeing the high growth and high margin opportunities they offer come to fruition as well."

Liz Claiborne Inc. designs and markets a portfolio of retail-based, premium, global lifestyle brands including Juicy Couture, kate spade, and Lucky Brand.

Liz Claiborne Inc

Must ReadView All

Textiles | On 28th Apr 2017

Fix 5% GST rate for textile goods: Textile bodies

Uniform levy of 5 per cent Goods and Services Tax (GST) on all...

Textiles | On 28th Apr 2017

India lifts CVD imposed on Nepali Jute goods

The countervailing duty (CVD) that was imposed on Nepali jute...

Courtesy: Williamsburg Garment Company

Fashion | On 28th Apr 2017

'We have grown by staying small & maximising efforts'

The easiest way to go out of business is to be too big or expand too...

Interviews View All

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Eric Scholler
Groz-Beckert

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

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X