New name for famous US retail group – Inside Retailing
by Admin on January 20th, 2012 // Filed Under → Uncategorized
Posted Date: 16/01/2012
By Inside Retail
Corporate apparel retailer Liz Claiborne Inc is changing its name as component to a repositioning of the corporate and its three fashion brands and a prelude to “global expansion”.
The listed US business turns into Fifth & Pacific Companies to “better communicate its strategic focus” on growing its three global lifestyle brands Juicy Couture, Kate Spade and Lucky Brand and to mirror the sale of the Liz Claiborne namesake brand to JC Penney.
The change is anticipated to be effective on or about May 15, at which era the corporate will begin trading at the stock exchange as Fifth & Pacific Companies, (NYSE: FNP).
“While it’s difficult to interchange an iconic name like Liz Claiborne, we believe that Fifth & Pacific Companies telegraphs who we’re today – taking inspiration from Ny and California, while describing our reach and our potential,” said CEO William L McComb.
“From The big apple to L. a. to Shanghai and beyond, our intrinsically American brands have global appeal, serving customers worldwide with fine quality and imaginative product.
“With the stairs we’ve taken, the hot Fifth & Pacific Companies is financially stronger, with a healthy balance sheet and significantly reduced operating risk and complexity. Moreover, we’re anchored by three, high-growth retail-based brands with significant expansion potential in global markets, spanning multiple product categories. Briefly, ours is a momentum portfolio, poised for growth and global expansion,” said McComb.
Under the Liz Claiborne moniker, the business was primarily thinking about serving shops. One day it would morph right into a direct-to-consumer retailer built around “three highly distinctive premium brands with global appeal”.
“Today, Juicy Couture, Kate Spade and Lucky Brand offer high growth and high margin opportunities within the US, in addition to abroad,” said McComb, who explains the verdict in a presentation screened on YouTube.
In addition to the core brands, the hot Fifth & Pacific will continue to function its private brand jewellery design and development group and should continue to market brands through department shops in addition to serve JCPenney via an exclusive license for Liz Claiborne and Monet jewelry lines and Kohl’s with a license for Dana Buchman jewellery.
The company also maintains an 18.75 per cent stake in Mexx, the ecu apparel and accessories retail-based brand.
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