Through its joint venture operation in China, the Company operates over 40 retail locations under the mac & jac and kenzie names.
Commenting on the announcement, Paul R Charron Chairman and Chief Executive Officer of Liz Claiborne Inc said: "They are quite pleased to announce this acquisition.
Mac & Jac's strong brand names and multi-brand, multi-channel and multi-geography approach complement their portfolio diversification strategy.
Mac & Jac is well positioned for significant organic growth through the opportunity for expanded distribution in the US department store and specialty store channels in addition to further penetration within its existing account base.
They also are encouraged by the opportunity to expand specialty retail, which is in the early stages of development, as well as international opportunities through additional distribution and further growth in their Asian joint venture.
Mac & Jac also has abundant brand extension opportunities in non-apparel categories, as well as in licensing."
Trudy Sullivan, President of Liz Claiborne Inc added: "They are pleased that Mac & Jac founders Eric and Lani Karls will continue to lead the Company.
This will ensure that the focused vision and brand position that created their three distinct brands will remain intact.
A global strategic partner like Liz brings a high level of intellectual and financial capital to the partnership thatwill help Eric, Lani and their team to successfully execute Mac & Jac's growth strategies.
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