Liz Claiborne Inc and Narciso Rodriguez announced that they have agreed to enter into a multi-faceted partnership agreement.
Liz Claiborne Inc is acquiring a 50% ownership interest in the Narciso Rodriguez name and trademarks from Mr. Rodriguez and will form a new company to develop the Narciso Rodriguez brand worldwide with Mr. Rodriguez as Creative Director.
Narciso Rodriguez's women's and men's ready-to-wear collections are known for their clean lines and precision tailoring. Mr. Rodriguez is the first recipient of two consecutive CFDA women's wear design awards and is a graduate of Parson's School of Design. He founded his eponymous brand in 1997.
The Narciso Rodriguez collections are distributed in luxury retailers worldwide including Barney's New York, Bergdorf Goodman, Neiman Marcus, Saks Fifth Avenue and key specialty stores.
In addition to his ready-to-wear, Mr. Rodriguez has created an award winning line of fragrances distributed worldwide under an existing license agreement with Beaute Prestige International.
Commenting on the announcement, Mr. Rodriguez said, "I am excited about the opportunities that this partnership will offer."
"Collaborating with Liz Claiborne will enable me to focus on my work and all of its possibilities. Bill McComb and his team have a clear understanding of my vision and are committed to help me realize my dream."