Juicy Couture sells its brand rights for $195m
Juicy Couture, famous for its branded velour tracksuits, has sold its brand rights to licensing firm Authentic Brands Group for $195m.
Parent company Fifth & Pacific Co., formerly known as Liz Claiborne, has sold of most of its former empire of some its 40 brands as it looks to focus on powerhouse brand Kate Spade.
Following the sale of Juicy Couture, Lucky Brand jeans remains the only one left on its roster.
"Ultimately, this is all about bringing Kate Spade to its full potential," CEO William McComb told the Wall Street Journal.
"We will have much more to say in the coming weeks about the transition of the operating components of the business, the associated restructuring costs and key impacts on our financial outlook," he said.
Fifth & Pacific has not commented on reports that it plans to sell Lucky Brand jeans.